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Cracker Barrel Easily Beats Estimates, Raises Dividend Substantially (CBRL)

By Dividend.com,  September 19, 2012, 07:42:48 AM EDT

Lebanon, Tennessee-based Cracker Barrel ( CBRL ) beat analysts estimates for Q4 financial performance this morning when it printed a $1.47 EPS figure on $700M in revenue. Analysts had expected $1.30 in EPS on $658M in revenue.

Revenue and earnings were buoyed by slightly stronger year over year comparable store traffic (+1.4%), comparable store restaurant sales (+3.8%) and comparable store retail sales (3.1%).

Noteworthy here at Dividend.com was the move the company took to increase it's quarterly dividend to $0.50 per share. The dividend hike represents a 25% jump vs the Q3 payout of $0.40 and a 100% increase from the company's Q1 payout of $0.25.

The dividend increase was accompanied by board approval to repurchase $100M worth of common stock.

The Bottom Line
Shares of Cracker Barrel ( CBRL ) will now have a 3.14% dividend yield, based on the higher dividend payout and last night's closing stock price of $63.62. The stock has technical support in the $58-$60 price area. The shares are trading near all-time highs.

Cracker Barrel ( CBRL ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Stocks

Referenced Stocks: CBRL



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