Brokerages Set The Cheesecake Factory Incorporated (NASDAQ:CAKE) Price Target at $61.81
by Kim Johansen · The Markets DailyShares of The Cheesecake Factory Incorporated (NASDAQ:CAKE – Get Free Report) have been assigned an average rating of “Hold” from the seventeen analysts that are presently covering the stock, MarketBeat reports. Four investment analysts have rated the stock with a sell recommendation, seven have given a hold recommendation and six have given a buy recommendation to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $61.8125.
Several analysts have recently weighed in on the stock. Mizuho set a $75.00 price objective on shares of Cheesecake Factory in a research report on Thursday, February 19th. UBS Group set a $53.00 price target on shares of Cheesecake Factory and gave the company a “sell” rating in a research report on Friday, February 20th. Wells Fargo & Company upped their price target on shares of Cheesecake Factory from $55.00 to $60.00 and gave the company an “equal weight” rating in a research report on Thursday, February 19th. Stephens downgraded shares of Cheesecake Factory from an “overweight” rating to an “equal weight” rating and set a $65.00 price target for the company. in a research report on Thursday, February 19th. Finally, Raymond James Financial downgraded shares of Cheesecake Factory from an “outperform” rating to a “market perform” rating in a research report on Wednesday, January 21st.
Read Our Latest Report on Cheesecake Factory
Cheesecake Factory Stock Up 3.3%
Shares of NASDAQ:CAKE opened at $57.06 on Friday. The company has a market capitalization of $2.85 billion, a PE ratio of 18.59, a P/E/G ratio of 1.43 and a beta of 1.01. The company has a current ratio of 0.59, a quick ratio of 0.52 and a debt-to-equity ratio of 1.29. Cheesecake Factory has a twelve month low of $42.69 and a twelve month high of $69.70. The firm has a 50 day simple moving average of $59.81 and a 200-day simple moving average of $54.74.
Cheesecake Factory (NASDAQ:CAKE – Get Free Report) last issued its quarterly earnings data on Wednesday, February 18th. The restaurant operator reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.02. The business had revenue of $961.56 million during the quarter, compared to the consensus estimate of $949.03 million. Cheesecake Factory had a net margin of 3.96% and a return on equity of 45.68%. The company’s revenue was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.04 EPS. On average, equities analysts predict that Cheesecake Factory will post 3.71 EPS for the current fiscal year.
Cheesecake Factory Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 17th. Investors of record on Wednesday, March 4th were given a $0.30 dividend. This is a positive change from Cheesecake Factory’s previous quarterly dividend of $0.27. The ex-dividend date was Wednesday, March 4th. This represents a $1.20 annualized dividend and a yield of 2.1%. Cheesecake Factory’s payout ratio is currently 39.09%.
Insider Transactions at Cheesecake Factory
In other Cheesecake Factory news, EVP Spero G. Alex sold 4,790 shares of the business’s stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $66.00, for a total value of $316,140.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Matthew Eliot Clark sold 7,000 shares of the business’s stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $65.70, for a total transaction of $459,900.00. Following the completion of the transaction, the chief financial officer directly owned 44,090 shares in the company, valued at $2,896,713. This represents a 13.70% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 20,582 shares of company stock worth $1,337,936 over the last 90 days. Company insiders own 8.40% of the company’s stock.
Hedge Funds Weigh In On Cheesecake Factory
Several institutional investors have recently bought and sold shares of the company. Rockefeller Capital Management L.P. increased its stake in Cheesecake Factory by 34.5% in the 4th quarter. Rockefeller Capital Management L.P. now owns 91,357 shares of the restaurant operator’s stock valued at $4,612,000 after buying an additional 23,448 shares during the period. Invesco Ltd. increased its stake in Cheesecake Factory by 13.6% in the 4th quarter. Invesco Ltd. now owns 2,337,671 shares of the restaurant operator’s stock valued at $118,006,000 after buying an additional 280,553 shares during the period. Mercer Global Advisors Inc. ADV increased its stake in Cheesecake Factory by 5.9% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 4,642 shares of the restaurant operator’s stock valued at $234,000 after buying an additional 260 shares during the period. SummitTX Capital L.P. increased its stake in Cheesecake Factory by 102.7% in the 4th quarter. SummitTX Capital L.P. now owns 80,975 shares of the restaurant operator’s stock valued at $4,088,000 after buying an additional 41,034 shares during the period. Finally, Numerai GP LLC acquired a new position in shares of Cheesecake Factory during the 4th quarter worth $2,027,000. 94.48% of the stock is owned by institutional investors and hedge funds.
About Cheesecake Factory
The Cheesecake Factory Incorporated (NASDAQ:CAKE) is an American restaurant company and distributor renowned for its full-service casual-dining concept and specialty cheesecakes. Headquartered in Calabasas Hills, California, the company operates more than 200 restaurants under The Cheesecake Factory® brand across the United States, Puerto Rico and select international markets. In addition to sit-down dining, Cheesecake Factory franchised locations offer catering and take-out services, while a separate manufacturing arm supplies branded cheesecakes and desserts to supermarkets, hotels and other foodservice operators.
The origins of the brand trace back to a small cheesecake bakery founded in Detroit in the 1940s.