Truist Financial Issues Positive Forecast for Cracker Barrel Old Country Store (NASDAQ:CBRL) Stock Price

Cracker Barrel Old Country Store (NASDAQ:CBRL) had its target price increased by Truist Financial from $64.00 to $65.00 in a research note released on Friday morning,Benzinga reports. They currently have a buy rating on the restaurant operator’s stock.

Several other brokerages have also issued reports on CBRL. Bank of America boosted their target price on shares of Cracker Barrel Old Country Store from $39.00 to $45.00 and gave the company an “underperform” rating in a research report on Friday, June 6th. UBS Group reiterated a “neutral” rating and issued a $60.00 price target (up from $48.00) on shares of Cracker Barrel Old Country Store in a research report on Tuesday, June 3rd. Wall Street Zen upgraded shares of Cracker Barrel Old Country Store from a “sell” rating to a “hold” rating in a research report on Sunday, March 2nd. Benchmark reiterated a “hold” rating on shares of Cracker Barrel Old Country Store in a research report on Monday, March 10th. Finally, Citigroup reiterated a “sell” rating and issued a $42.00 price target (up from $39.00) on shares of Cracker Barrel Old Country Store in a research report on Friday, May 23rd. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $53.86.

Cracker Barrel Old Country Store Stock Performance

Shares of NASDAQ CBRL opened at $52.06 on Friday. The firm has a 50 day moving average of $49.41 and a 200 day moving average of $50.09. The company has a current ratio of 0.69, a quick ratio of 0.24 and a debt-to-equity ratio of 1.20. The firm has a market capitalization of $1.16 billion, a price-to-earnings ratio of 28.76, a price-to-earnings-growth ratio of 8.36 and a beta of 1.45. Cracker Barrel Old Country Store has a 12-month low of $33.86 and a 12-month high of $65.43.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last announced its earnings results on Thursday, June 5th. The restaurant operator reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.41. The company had revenue of $821.10 million during the quarter, compared to analyst estimates of $824.65 million. Cracker Barrel Old Country Store had a net margin of 1.15% and a return on equity of 18.61%. The firm’s quarterly revenue was up .5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.88 earnings per share. On average, research analysts anticipate that Cracker Barrel Old Country Store will post 2.76 earnings per share for the current year.

Cracker Barrel Old Country Store Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 13th. Investors of record on Friday, July 18th will be given a dividend of $0.25 per share. The ex-dividend date is Friday, July 18th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.92%. Cracker Barrel Old Country Store’s dividend payout ratio is 38.76%.

Insider Buying and Selling

In related news, major shareholder Gmt Capital Corp bought 105,900 shares of the company’s stock in a transaction that occurred on Friday, April 4th. The stock was purchased at an average price of $35.94 per share, for a total transaction of $3,806,046.00. Following the completion of the transaction, the insider now owns 2,452,200 shares in the company, valued at $88,132,068. The trade was a 4.51% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last quarter, insiders purchased 385,307 shares of company stock worth $15,679,910. 1.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Cracker Barrel Old Country Store

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Captrust Financial Advisors boosted its position in shares of Cracker Barrel Old Country Store by 6.1% during the fourth quarter. Captrust Financial Advisors now owns 6,302 shares of the restaurant operator’s stock worth $333,000 after acquiring an additional 361 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Cracker Barrel Old Country Store by 3.4% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,592 shares of the restaurant operator’s stock valued at $666,000 after purchasing an additional 417 shares in the last quarter. Sterling Capital Management LLC raised its stake in Cracker Barrel Old Country Store by 685.9% during the fourth quarter. Sterling Capital Management LLC now owns 558 shares of the restaurant operator’s stock valued at $29,000 after purchasing an additional 487 shares in the last quarter. Whittier Trust Co. of Nevada Inc. purchased a new stake in Cracker Barrel Old Country Store during the first quarter valued at $25,000. Finally, MetLife Investment Management LLC raised its stake in Cracker Barrel Old Country Store by 6.0% during the fourth quarter. MetLife Investment Management LLC now owns 13,371 shares of the restaurant operator’s stock valued at $707,000 after purchasing an additional 754 shares in the last quarter. Institutional investors own 96.01% of the company’s stock.

Cracker Barrel Old Country Store Company Profile

Cracker Barrel Old Country Store, Inc develops and operates the Cracker Barrel Old Country Store concept in the United States. Its Cracker Barrel stores consist of restaurants with a gift shop. The company's restaurants serve breakfast, lunch, and dinner daily, as well as dine-in, pick-up, and delivery services.