Cheesecake Factory (NASDAQ:CAKE) Price Target Raised to $105.00

Cheesecake Factory (NASDAQ:CAKE) had its price target increased by Wells Fargo & Company from $90.00 to $105.00 in a report published on Tuesday morning, Marketbeat reports. Wells Fargo & Company currently has an equal weight rating on the restaurant operator’s stock.

Several other equities analysts have also recently weighed in on the company. Citigroup raised their price objective on Cheesecake Factory from $76.00 to $90.00 and gave the company a “buy” rating in a report on Friday, July 10th. UBS Group upped their target price on Cheesecake Factory from $53.00 to $60.00 and gave the stock a “sell” rating in a report on Thursday, July 23rd. Weiss Ratings raised Cheesecake Factory from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, August 13th. Mizuho raised their price target on Cheesecake Factory from $85.00 to $93.00 and gave the company a “neutral” rating in a research note on Wednesday, July 29th. Finally, Oppenheimer raised their price target on Cheesecake Factory from $91.00 to $101.00 and gave the company an “outperform” rating in a research note on Wednesday, July 29th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Cheesecake Factory currently has a consensus rating of “Hold” and an average target price of $85.47.

Cheesecake Factory Stock Performance

Shares of CAKE opened at $95.87 on Tuesday. Cheesecake Factory has a 12 month low of $43.07 and a 12 month high of $118.46. The firm has a fifty day simple moving average of $101.29 and a 200 day simple moving average of $77.43. The stock has a market capitalization of $4.77 billion, a price-to-earnings ratio of 25.98, a PEG ratio of 1.59 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 1.08.

Cheesecake Factory (NASDAQ:CAKE) last released its earnings results on Tuesday, July 28th. The restaurant operator reported $1.44 earnings per share for the quarter, beating analysts’ consensus estimates of $1.18 by $0.26. Cheesecake Factory had a net margin of 4.61% and a return on equity of 43.97%. The business had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $999.54 million. During the same quarter last year, the firm earned $1.16 earnings per share. The firm’s revenue for the quarter was up 7.7% compared to the same quarter last year. Research analysts forecast that Cheesecake Factory will post 4.53 EPS for the current fiscal year.

Cheesecake Factory Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 25th. Stockholders of record on Tuesday, August 11th were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend was Tuesday, August 11th. Cheesecake Factory’s dividend payout ratio (DPR) is 32.52%.

Insider Activity at Cheesecake Factory

In related news, insider Ashley W. Hanscom sold 3,500 shares of the firm’s stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $100.00, for a total value of $350,000.00. Following the completion of the sale, the insider directly owned 7,541 shares in the company, valued at approximately $754,100. This trade represents a 31.70% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, President David M. Gordon sold 31,950 shares of the firm’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $110.03, for a total transaction of $3,515,458.50. Following the completion of the sale, the president owned 26,875 shares of the company’s stock, valued at $2,957,056.25. This trade represents a 54.31% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 213,749 shares of company stock worth $22,301,899 over the last ninety days. Company insiders own 8.00% of the company’s stock.

Hedge Funds Weigh In On Cheesecake Factory

Institutional investors have recently bought and sold shares of the business. Bank of New York Mellon Corp bought a new stake in shares of Cheesecake Factory in the second quarter valued at about $38,020,000. Bamco Inc. NY bought a new position in Cheesecake Factory during the second quarter worth about $35,793,000. PDT Partners LLC bought a new position in Cheesecake Factory during the second quarter worth about $13,743,000. Palisade Capital Management LP acquired a new stake in Cheesecake Factory in the 2nd quarter worth about $10,014,000. Finally, Legal & General Group Plc acquired a new stake in Cheesecake Factory in the 2nd quarter worth about $8,396,000. Institutional investors and hedge funds own 94.48% of the company’s stock.

Cheesecake Factory Company Profile

The Cheesecake Factory Incorporated (NASDAQ: CAKE) operates full-service casual dining restaurants in the United States. Its flagship Cheesecake Factory restaurants offer an extensive menu of made-to-order dishes spanning American and international cuisines, along with a broad selection of cheesecakes and other desserts.

The company also operates North Italia, an Italian restaurant concept, and restaurants developed through Fox Restaurant Concepts. In addition, its bakery division produces cheesecakes and other baked goods for the company’s restaurants, retailers, and other foodservice customers.

Founded in 1978 by David Overton, The Cheesecake Factory began as a bakery business before opening its first restaurant in Beverly Hills, California, in 1978.