Cracker Barrel Old Country Store (NASDAQ:CBRL) Share Price Passes Above 200 Day Moving Average – Here’s What Happened

Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $34.47 and traded as high as $54.71. Cracker Barrel Old Country Store shares last traded at $53.41, with a volume of 1,248,015 shares.

Analyst Ratings Changes

A number of research firms have issued reports on CBRL. Wall Street Zen raised Cracker Barrel Old Country Store from a “strong sell” rating to a “hold” rating in a report on Saturday, June 13th. Benchmark reissued a “hold” rating on shares of Cracker Barrel Old Country Store in a research report on Wednesday, June 10th. Argus raised their price objective on shares of Cracker Barrel Old Country Store from $40.00 to $60.00 and gave the stock a “buy” rating in a research note on Thursday, June 11th. Piper Sandler reaffirmed a “neutral” rating and set a $51.00 target price on shares of Cracker Barrel Old Country Store in a research report on Wednesday. Finally, Weiss Ratings upgraded shares of Cracker Barrel Old Country Store from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, July 8th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $48.14.

Cracker Barrel Old Country Store Trading Down 1.4%

The firm has a market capitalization of $1.19 billion, a price-to-earnings ratio of 45.84 and a beta of 1.20. The business has a 50-day moving average of $42.81 and a two-hundred day moving average of $34.67. The company has a quick ratio of 0.19, a current ratio of 0.50 and a debt-to-equity ratio of 0.72.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last posted its quarterly earnings results on Tuesday, June 9th. The restaurant operator reported $0.29 EPS for the quarter, beating the consensus estimate of ($0.45) by $0.74. Cracker Barrel Old Country Store had a return on equity of 2.78% and a net margin of 0.79%.The firm had revenue of $797.37 million during the quarter, compared to analysts’ expectations of $776.69 million. During the same quarter in the prior year, the firm posted $0.56 EPS. The company’s revenue for the quarter was down 2.9% on a year-over-year basis. Research analysts predict that Cracker Barrel Old Country Store, Inc. will post -0.83 EPS for the current fiscal year.

Cracker Barrel Old Country Store Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 12th. Investors of record on Friday, July 17th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date is Friday, July 17th. Cracker Barrel Old Country Store’s dividend payout ratio is presently 86.21%.

Institutional Investors Weigh In On Cracker Barrel Old Country Store

A number of institutional investors have recently bought and sold shares of CBRL. Alliancebernstein L.P. increased its holdings in Cracker Barrel Old Country Store by 1,068.2% in the 2nd quarter. Alliancebernstein L.P. now owns 1,222,242 shares of the restaurant operator’s stock valued at $74,655,000 after buying an additional 1,117,617 shares during the period. Franklin Resources Inc. lifted its holdings in shares of Cracker Barrel Old Country Store by 13,737.1% during the 3rd quarter. Franklin Resources Inc. now owns 930,131 shares of the restaurant operator’s stock worth $40,982,000 after acquiring an additional 923,409 shares during the period. Balyasny Asset Management L.P. acquired a new stake in shares of Cracker Barrel Old Country Store during the 2nd quarter valued at about $43,930,000. Marshall Wace LLP acquired a new stake in shares of Cracker Barrel Old Country Store during the 4th quarter valued at about $5,225,000. Finally, Bridgeway Capital Management LLC acquired a new stake in shares of Cracker Barrel Old Country Store during the 4th quarter valued at about $3,962,000. Institutional investors and hedge funds own 96.01% of the company’s stock.

About Cracker Barrel Old Country Store

Cracker Barrel Old Country Store, Inc operates a distinctive combination of country-themed restaurants and retail stores across the United States. Since its founding in 1969, the company has focused on providing a nostalgic dining experience reminiscent of Southern hospitality, serving breakfast, lunch and dinner with an emphasis on traditional comfort foods.

The restaurant segment offers an extensive menu featuring signature items such as buttermilk pancakes, country ham, biscuits and gravy, meatloaf and pot roast.