Shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE – Get Rating) have been assigned an average recommendation of “Hold” from the thirteen research firms that are covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $42.83.
CAKE has been the topic of a number of recent analyst reports. Barclays dropped their price objective on Cheesecake Factory from $32.00 to $28.00 and set an “underweight” rating on the stock in a report on Thursday, July 28th. Morgan Stanley dropped their price objective on Cheesecake Factory from $37.00 to $26.00 and set an “underweight” rating on the stock in a report on Monday, July 18th. Citigroup upped their price objective on Cheesecake Factory from $39.00 to $40.00 in a report on Thursday, July 28th. Deutsche Bank Aktiengesellschaft decreased their target price on Cheesecake Factory from $35.00 to $31.00 in a research report on Thursday, July 28th. Finally, Piper Sandler decreased their target price on Cheesecake Factory from $38.00 to $30.00 and set a “neutral” rating on the stock in a research report on Monday, July 11th.
Institutional Trading of Cheesecake Factory
Several institutional investors and hedge funds have recently made changes to their positions in the stock. Captrust Financial Advisors lifted its position in shares of Cheesecake Factory by 170.4% in the second quarter. Captrust Financial Advisors now owns 5,754 shares of the restaurant operator’s stock valued at $152,000 after acquiring an additional 3,626 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Cheesecake Factory by 2.1% in the second quarter. Price T Rowe Associates Inc. MD now owns 28,907 shares of the restaurant operator’s stock valued at $764,000 after acquiring an additional 598 shares in the last quarter. Caption Management LLC purchased a new stake in shares of Cheesecake Factory in the second quarter valued at $674,000. AQR Capital Management LLC purchased a new stake in shares of Cheesecake Factory in the second quarter valued at $223,000. Finally, State Street Corp lifted its position in Cheesecake Factory by 1.0% during the second quarter. State Street Corp now owns 1,738,875 shares of the restaurant operator’s stock worth $45,941,000 after buying an additional 17,383 shares during the period. 87.42% of the stock is currently owned by hedge funds and other institutional investors.
Cheesecake Factory Trading Down 3.2 %
NASDAQ:CAKE opened at $32.78 on Thursday. The firm has a market cap of $1.71 billion, a P/E ratio of 20.11, a PEG ratio of 1.95 and a beta of 1.45. The company has a current ratio of 0.63, a quick ratio of 0.54 and a debt-to-equity ratio of 1.29. The stock’s 50 day simple moving average is $29.00 and its 200-day simple moving average is $33.90. Cheesecake Factory has a 12-month low of $26.05 and a 12-month high of $51.19.
Cheesecake Factory (NASDAQ:CAKE – Get Rating) last announced its quarterly earnings data on Wednesday, July 27th. The restaurant operator reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.27). Cheesecake Factory had a return on equity of 31.69% and a net margin of 2.65%. The business had revenue of $832.60 million for the quarter, compared to analyst estimates of $836.64 million. During the same period in the prior year, the company earned $0.80 EPS. The company’s revenue was up 8.3% on a year-over-year basis. Equities analysts anticipate that Cheesecake Factory will post 2.04 EPS for the current year.
Cheesecake Factory Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 23rd. Stockholders of record on Wednesday, August 10th will be given a $0.27 dividend. The ex-dividend date is Tuesday, August 9th. This represents a $1.08 annualized dividend and a dividend yield of 3.29%. Cheesecake Factory’s dividend payout ratio is currently 66.26%.
About Cheesecake Factory
The Cheesecake Factory Incorporated operates restaurants. It operates two bakeries that produces cheesecakes and other baked products for its restaurants, international licensees, third-party bakery customers, external foodservice operators, retailers, and distributors. The company owns and operates 306 restaurants throughout the United States and Canada under brands, including 208 The Cheesecake Factory and 29 North Italia; and a collection of Fox Restaurant Concepts, as well as 29 The Cheesecake Factory restaurants under licensing agreements internationally.
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