Cheesecake Factory (NASDAQ:CAKE) PT Raised to $47.00

Cheesecake Factory (NASDAQ:CAKE) had its price target upped by Bank of America from $45.00 to $47.00 in a research report released on Tuesday morning, Benzinga reports. Bank of America currently has a neutral rating on the restaurant operator’s stock.

A number of other brokerages have also issued reports on CAKE. Robert W. Baird lifted their price target on shares of Cheesecake Factory from $37.00 to $40.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. JPMorgan Chase & Co. decreased their price objective on shares of Cheesecake Factory from $40.00 to $38.00 and set an “underweight” rating for the company in a report on Tuesday, August 6th. Stephens reaffirmed an “overweight” rating and issued a $50.00 price objective on shares of Cheesecake Factory in a report on Tuesday. Barclays boosted their price target on shares of Cheesecake Factory from $35.00 to $38.00 and gave the company an “underweight” rating in a report on Tuesday. Finally, Citigroup boosted their price target on shares of Cheesecake Factory from $46.00 to $51.00 and gave the company a “buy” rating in a report on Friday, October 4th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $42.18.

Cheesecake Factory Trading Down 1.0 %

CAKE opened at $42.04 on Tuesday. The firm has a market capitalization of $2.14 billion, a P/E ratio of 19.28, a P/E/G ratio of 1.13 and a beta of 1.49. The firm’s 50 day moving average is $39.24 and its 200-day moving average is $37.96. Cheesecake Factory has a 52-week low of $29.27 and a 52-week high of $43.51. The company has a quick ratio of 0.32, a current ratio of 0.43 and a debt-to-equity ratio of 1.26.

Cheesecake Factory (NASDAQ:CAKE) last posted its quarterly earnings data on Wednesday, July 31st. The restaurant operator reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.09. The company had revenue of $904.04 million for the quarter, compared to analyst estimates of $909.19 million. Cheesecake Factory had a net margin of 3.32% and a return on equity of 43.62%. The business’s quarterly revenue was up 4.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.88 earnings per share. Analysts expect that Cheesecake Factory will post 3.21 EPS for the current fiscal year.

Cheesecake Factory Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 27th. Investors of record on Wednesday, August 14th were paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.57%. The ex-dividend date was Wednesday, August 14th. Cheesecake Factory’s dividend payout ratio is currently 49.54%.

Institutional Investors Weigh In On Cheesecake Factory

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Foundations Investment Advisors LLC bought a new stake in Cheesecake Factory in the third quarter worth about $227,000. Inspire Investing LLC raised its holdings in Cheesecake Factory by 11.4% during the 3rd quarter. Inspire Investing LLC now owns 11,343 shares of the restaurant operator’s stock worth $460,000 after buying an additional 1,158 shares during the period. Creative Planning grew its stake in Cheesecake Factory by 39.9% during the 2nd quarter. Creative Planning now owns 10,135 shares of the restaurant operator’s stock valued at $398,000 after acquiring an additional 2,892 shares in the last quarter. JCP Investment Management LLC purchased a new position in Cheesecake Factory during the 2nd quarter valued at about $5,149,000. Finally, Shellback Capital LP purchased a new position in Cheesecake Factory during the 2nd quarter valued at about $1,120,000. 94.48% of the stock is currently owned by institutional investors.

Cheesecake Factory Company Profile

The Cheesecake Factory Incorporated operates and licenses restaurants in the United States and Canada. The company operates bakeries that produce cheesecakes and other baked products for its restaurants, international licensees, third-party bakery customers, external foodservice operators, retailers, and distributors.