Trade Report: Today, Cracker Barrel Old Country Store, Inc. (CBRL) Rating Increased to Buy at The Zacks Investment Research

Today, Cracker Barrel Old Country Store, Inc. (CBRL) Rating Increased to Buy at The Zacks Investment Research

Zacks Investment Research upgraded shares of Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) from a hold rating to a buy rating in a research note published on Wednesday morning. Zacks Investment Research currently has $186.00 price objective on the stock.

According to Zacks, “Cracker Barrel Old Country Store, Inc., formerly CBRL Group, Inc., is principally engaged in the operation and development of the Cracker Barrel Old Country Store restaurant and retail concept. The format of Cracker Barrel stores consists of a rustic, old country-store design with a separate retail area offering a variety of decorative and functional items featuring rocking chairs, holiday and seasonal gifts and toys, apparel, cookware and foods, including various old fashioned candies and jellies. “

Several other analysts have also weighed in on CBRL. Telsey Advisory Group decreased their target price on shares of Cracker Barrel Old Country Store from $160.00 to $150.00 and set a market perform rating on the stock in a research report on Thursday, September 15th. Maxim Group decreased their target price on shares of Cracker Barrel Old Country Store from $170.00 to $165.00 and set a buy rating on the stock in a research report on Thursday, September 15th. Bank of America Corp. reiterated a sell rating and set a $140.00 target price on shares of Cracker Barrel Old Country Store in a research report on Thursday, September 15th. Finally, Wells Fargo & Co. reiterated a market perform rating and set a $132.50 target price (down from $164.00) on shares of Cracker Barrel Old Country Store in a research report on Friday, September 16th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company. Cracker Barrel Old Country Store presently has an average rating of Hold and a consensus price target of $162.50.

Cracker Barrel Old Country Store (NASDAQ:CBRL) opened at 161.58 on Wednesday. Cracker Barrel Old Country Store has a 1-year low of $118.01 and a 1-year high of $172.89. The firm has a market cap of $3.88 billion, a price-to-earnings ratio of 20.56 and a beta of 0.31. The company’s 50 day moving average is $141.77 and its 200-day moving average is $151.78.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last posted its quarterly earnings data on Tuesday, November 22nd. The company reported $2.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.84 by $0.17. Cracker Barrel Old Country Store had a net margin of 6.74% and a return on equity of 34.26%. The company had revenue of $710 million for the quarter, compared to the consensus estimate of $713.73 million. During the same quarter in the previous year, the firm posted $1.70 EPS. The business’s revenue was up 1.1% compared to the same quarter last year. On average, analysts predict that Cracker Barrel Old Country Store will post $8.23 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, February 6th. Shareholders of record on Friday, January 13th will be given a $1.15 dividend. The ex-dividend date is Wednesday, January 11th. This represents a $4.60 dividend on an annualized basis and a yield of 2.86%. Cracker Barrel Old Country Store’s dividend payout ratio (DPR) is presently 56.23%.

In other news, VP Nicholas V. Flanagan sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, November 25th. The shares were sold at an average price of $164.05, for a total transaction of $1,640,500.00. Following the transaction, the vice president now directly owns 12,679 shares in the company, valued at $2,079,989.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Andrea Weiss sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, November 25th. The stock was sold at an average price of $164.50, for a total transaction of $329,000.00. Following the transaction, the director now owns 11,758 shares in the company, valued at $1,934,191. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by company insiders.

Several institutional investors have recently made changes to their positions in CBRL. BlackRock Fund Advisors raised its position in shares of Cracker Barrel Old Country Store by 5.9% in the third quarter. BlackRock Fund Advisors now owns 1,178,011 shares of the company’s stock worth $155,757,000 after buying an additional 65,256 shares during the last quarter. State Street Corp raised its position in shares of Cracker Barrel Old Country Store by 0.4% in the second quarter. State Street Corp now owns 718,388 shares of the company’s stock worth $123,188,000 after buying an additional 3,062 shares during the last quarter. Ameriprise Financial Inc. raised its position in shares of Cracker Barrel Old Country Store by 12.8% in the third quarter. Ameriprise Financial Inc. now owns 668,820 shares of the company’s stock worth $86,092,000 after buying an additional 76,099 shares during the last quarter. FMR LLC raised its position in shares of Cracker Barrel Old Country Store by 28.8% in the second quarter. FMR LLC now owns 366,455 shares of the company’s stock worth $62,836,000 after buying an additional 81,955 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its position in shares of Cracker Barrel Old Country Store by 5.7% in the third quarter. Robeco Institutional Asset Management B.V. now owns 350,154 shares of the company’s stock worth $46,296,000 after buying an additional 18,736 shares during the last quarter. Institutional investors own 81.95% of the company’s stock.

About Cracker Barrel Old Country Store

Cracker Barrel Old Country Store, Inc is engaged in the operation and development of the Cracker Barrel Old Country Store concept (Cracker Barrel). The Company’s segments include Restaurant and Retail. As of September 19, 2016, the Company operated 640 Cracker Barrel stores in 43 states. The format of its stores consists of a rustic old country-store design offering a restaurant menu that features home-style country food and a range of decorative and functional items, such as rocking chairs, holiday and seasonal gifts an
d toys, apparel, cookware and foods.

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