The Cheesecake Factory Incorporated (NASDAQ:CAKE) had its target price reduced by Canaccord Genuity from $50.00 to $48.00 in a research note released on Thursday, November 2nd. They currently have a hold rating on the restaurant operator’s stock.
Several other research firms also recently commented on CAKE. BidaskClub downgraded shares of The Cheesecake Factory from a sell rating to a strong sell rating in a report on Thursday, July 27th. Wells Fargo & Company decreased their price target on shares of The Cheesecake Factory from $46.00 to $43.00 and set a market perform rating on the stock in a research note on Tuesday, October 24th. Nomura decreased their price target on shares of The Cheesecake Factory from $50.00 to $44.00 and set a neutral rating on the stock in a research note on Thursday, August 3rd. Wedbush assumed coverage on shares of The Cheesecake Factory in a research note on Monday, July 10th. They issued an outperform rating and a $57.00 price target on the stock. They noted that the move was a valuation call. Finally, Jefferies Group LLC reaffirmed a hold rating and set a $46.00 price objective on shares of The Cheesecake Factory in a research report on Thursday, September 7th. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have given a buy rating to the stock. The stock has a consensus rating of Hold and an average price target of $49.24.
Shares of The Cheesecake Factory (CAKE) opened at $44.29 on Thursday. The company has a quick ratio of 0.37, a current ratio of 0.51 and a debt-to-equity ratio of 0.05. The company has a market cap of $2,028.75, a price-to-earnings ratio of 16.23, a PEG ratio of 1.18 and a beta of 0.29. The Cheesecake Factory has a 1 year low of $38.34 and a 1 year high of $67.14.
The Cheesecake Factory (NASDAQ:CAKE) last issued its earnings results on Wednesday, November 1st. The restaurant operator reported $0.56 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.60 by ($0.04). The Cheesecake Factory had a return on equity of 21.65% and a net margin of 5.76%. The firm had revenue of $555.40 million for the quarter, compared to analyst estimates of $566.09 million. During the same quarter in the previous year, the firm posted $0.70 earnings per share. The Cheesecake Factory’s quarterly revenue was down .8% on a year-over-year basis. research analysts forecast that The Cheesecake Factory will post 2.61 EPS for the current year.
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The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 28th. Investors of record on Wednesday, November 15th will be paid a $0.29 dividend. The ex-dividend date of this dividend is Tuesday, November 14th. This represents a $1.16 annualized dividend and a yield of 2.62%. The Cheesecake Factory’s payout ratio is 42.80%.
In related news, Director Herbert Simon bought 25,000 shares of the business’s stock in a transaction dated Monday, November 6th. The shares were purchased at an average cost of $43.50 per share, with a total value of $1,087,500.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Debby R. Zurzolo sold 2,415 shares of the company’s stock in a transaction on Thursday, November 9th. The shares were sold at an average price of $44.20, for a total value of $106,743.00. The disclosure for this sale can be found here. Over the last ninety days, insiders purchased 25,730 shares of company stock worth $1,119,535. 8.40% of the stock is owned by insiders.
Several large investors have recently made changes to their positions in CAKE. BlackRock Inc. lifted its holdings in The Cheesecake Factory by 21,381.3% in the first quarter. BlackRock Inc. now owns 4,842,308 shares of the restaurant operator’s stock valued at $306,812,000 after acquiring an additional 4,819,766 shares during the period. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in The Cheesecake Factory by 54.8% in the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,457,364 shares of the restaurant operator’s stock valued at $103,504,000 after acquiring an additional 869,579 shares during the period. First Trust Advisors LP lifted its holdings in The Cheesecake Factory by 750.5% in the third quarter. First Trust Advisors LP now owns 580,508 shares of the restaurant operator’s stock valued at $24,451,000 after acquiring an additional 512,255 shares during the period. Renaissance Technologies LLC bought a new position in The Cheesecake Factory in the second quarter valued at about $25,369,000. Finally, Epoch Investment Partners Inc. lifted its holdings in The Cheesecake Factory by 207.7% in the third quarter. Epoch Investment Partners Inc. now owns 734,252 shares of the restaurant operator’s stock valued at $30,926,000 after acquiring an additional 495,642 shares during the period. 98.67% of the stock is currently owned by hedge funds and other institutional investors.
The Cheesecake Factory Company Profile
The Cheesecake Factory Incorporated is engaged in the restaurant and bakery business. As of March 2, 2017, the Company operated 208 Company-owned restaurants: 194 under The Cheesecake Factory mark, 13 under the Grand Lux Cafe mark and one under the Rock Sugar Pan Asian Kitchen mark. The Company’s segments include The Cheesecake Factory restaurants, and other.
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