Cracker Barrel Old Country Store (
) has the recipe for happy investors. Earlier this week, the
company delivered quarterly results above views and raised its
On Monday, the operator of home-style restaurants and retail
stores reported fiscal Q3 earnings that grew 19% to $1.02 a
share. Sales rose 5% to $640 million. The company said that
comparable restaurant sales edged up 3.1%, while average checks
Cracker Barrel also raised its guidance on profit and revenue
for its full-year fiscal 2013. The company has delivered higher
earnings each year since 2007.
Analysts polled by Thomson Reuters see profit rising 5% to
$4.86 a share for fiscal 2013. Growth is expected to pick up to
16% in fiscal 2014.
The company's strong results prompted it to raise its
quarterly dividend by 50% to 75 cents a share. Its quarterly
dividend has more than tripled since 2011. Cracker Barrel will
dole out the dividend Aug. 5 to shareholders of record July
At the new quarterly rate, Cracker Barrel pays $3 a share on
an annual basis. This gives it a yield of about 3.1%, which is
one of the highest among the 21 dividend-paying stocks in the
highly ranked Retail-Restaurants group.
Other restaurant names such as
) have been featured in The Income Investor column in recent
Despite recent market volatility, Cracker Barrel has been on a
tear. The stock has climbed for six straight weeks and looked to
be on pace for a seventh straight weekly price gain.
The stock cleared a cup with handle in February and has yet to
test its 10-week moving average.