Cracker Barrel Old Country Store (NASDAQ:CBRL) declared that its board has authorized a stock repurchase program, which permits the company to buyback $25.00 million in outstanding shares on Friday, September 29th, EventVestor reports. This buyback authorization permits the restaurant operator to reacquire up to 0.7% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Cracker Barrel Old Country Store (NASDAQ:CBRL) opened at 152.00 on Thursday. The company has a market cap of $3.66 billion, a price-to-earnings ratio of 18.16 and a beta of 0.51. Cracker Barrel Old Country Store has a 52 week low of $130.15 and a 52 week high of $175.04. The firm has a 50-day moving average of $148.70 and a 200-day moving average of $157.74.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last posted its quarterly earnings results on Wednesday, September 13th. The restaurant operator reported $2.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.18 by $0.05. The firm had revenue of $743.20 million for the quarter, compared to analysts’ expectations of $746.72 million. Cracker Barrel Old Country Store had a return on equity of 35.49% and a net margin of 6.90%. The company’s revenue for the quarter was down .3% compared to the same quarter last year. During the same period in the prior year, the business earned $2.12 EPS. Equities analysts forecast that Cracker Barrel Old Country Store will post $8.81 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 6th. Shareholders of record on Friday, October 13th will be issued a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a dividend yield of 3.16%. The ex-dividend date is Thursday, October 12th. Cracker Barrel Old Country Store’s payout ratio is 57.28%.

Several research firms recently weighed in on CBRL. Zacks Investment Research lowered shares of Cracker Barrel Old Country Store from a “hold” rating to a “sell” rating in a research note on Monday, September 18th. Instinet reissued a “neutral” rating and set a $158.00 price objective (down previously from $162.00) on shares of Cracker Barrel Old Country Store in a research note on Thursday, September 14th. Nomura reduced their price objective on shares of Cracker Barrel Old Country Store from $162.00 to $158.00 and set a “neutral” rating on the stock in a research note on Thursday, September 14th. Bank of America Corporation reduced their price objective on shares of Cracker Barrel Old Country Store from $150.00 to $140.00 and set an “underperform” rating on the stock in a research note on Monday, September 11th. Finally, Maxim Group reissued a “hold” rating and set a $155.00 price objective (down previously from $170.00) on shares of Cracker Barrel Old Country Store in a research note on Thursday, September 7th. Three analysts have rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. Cracker Barrel Old Country Store presently has a consensus rating of “Hold” and a consensus price target of $163.22.

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In other Cracker Barrel Old Country Store news, CEO Sandra B. Cochran sold 36,794 shares of the stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $151.67, for a total transaction of $5,580,545.98. Following the transaction, the chief executive officer now directly owns 157,591 shares in the company, valued at approximately $23,901,826.97. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Andrea Weiss sold 2,000 shares of the stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $153.39, for a total value of $306,780.00. Following the transaction, the director now owns 11,758 shares in the company, valued at $1,803,559.62. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by corporate insiders.

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 and toys, apparel, cookware and foods.

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