Cramer: Cracker Barrel Results ‘Much Better Than Expected’

NEW YORK (TheStreet) -- Shares of Cracker Barrel Old Country Store (CBRL) are up over 4% Tuesday, following what TheStreet's Jim Cramer called, "much-better-than-expected" earnings. 

The company beat earnings per share estimates of $1.37 by 12 cents per share and beat on revenue estimates, with sales growing 6.3% year over year. 

In addition to the strong results, Cracker Barrel boosted its quarterly dividend by 10% and announced a special dividend of $3 per share, Cramer, the portfolio manager of the Action Alerts PLUS portfolio, pointed out on CNBC's "Mad Dash" segment. 

CBRL Chart
Cracker Barrel Old Country Store CBRL data by YCharts

When it comes to food, there's two different kinds of people in the world, Cramer said. There are those who focus on eating natural and organic foods and those who don't mind eating food not comprised of all-natural ingredients

That explains why companies like Zoe's Kitchen (ZOES) are doing so well while at the same time companies like Darden Restaurants (DRI), Dunkin' Donuts (DNKN) and Cracker Barrel are doing well, too, Cramer concluded. 

At the time of publication, Cramer's Action Alerts PLUS had no position in companies mentioned.

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