NEW YORK ( TheStreet) - Cracker Barrel (CBRL - Get Report) did it again. Another solid earnings report sent shares up 6.5% Monday, and while the market fell Tuesday, Cracker Barrel was up another 0.7%.My favorite country restaurant chain beat analysts' estimates on revenue and earnings, and its stock is trading at an all-time high, making a push toward the $100 mark. The company also increased its quarterly dividend 50% to 75 cents, which equates to a 3.1% yield. Since April 2012, the company has tripled its dividend. CBRL data by YCharts
Sardar Biglari may look like a genius for taking a large position in Cracker Barrel, but his issues with the company have all but fallen on deaf ears. Whether he is right or wrong, it is difficult to build a case calling for change when Cracker Barrel's shares are up more than 50% year to date. Shares of Biglari, meawhile, are up just 5% year to date. Considering that Biglari's market cap is just $505 million, and the company owns $456 million worth of Cracker Barrel, something is wrong. Biglari's valuation places a very low value on the firm's other assets, which include the Steak n Shake and Western Sizzlin' restaurant chains, and other investments.