Cheesecake Factory (NASDAQ:CAKE – Get Rating) is set to issue its quarterly earnings data after the market closes on Wednesday, July 27th. Analysts expect the company to announce earnings of $0.79 per share for the quarter. Individual that are interested in participating in the company’s earnings conference call can do so using this link.
Cheesecake Factory (NASDAQ:CAKE – Get Rating) last released its quarterly earnings data on Wednesday, April 27th. The restaurant operator reported $0.47 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.03). Cheesecake Factory had a return on equity of 38.98% and a net margin of 2.96%. The business had revenue of $793.71 million during the quarter, compared to analysts’ expectations of $782.10 million. During the same quarter in the prior year, the firm earned $0.20 earnings per share. On average, analysts expect Cheesecake Factory to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.
Cheesecake Factory Trading Up 5.2 %
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Shares of CAKE stock opened at $28.48 on Wednesday. The firm has a 50-day moving average price of $29.61 and a 200 day moving average price of $34.98. Cheesecake Factory has a twelve month low of $26.05 and a twelve month high of $55.31. The company has a market capitalization of $1.50 billion, a price-to-earnings ratio of 18.99, a PEG ratio of 1.16 and a beta of 1.45. The company has a current ratio of 0.62, a quick ratio of 0.54 and a debt-to-equity ratio of 1.31.
Cheesecake Factory Cuts Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 24th. Investors of record on Wednesday, May 11th were issued a dividend of $0.27 per share. The ex-dividend date was Tuesday, May 10th. This represents a $1.08 annualized dividend and a dividend yield of 3.79%. Cheesecake Factory’s payout ratio is 72.00%.
Wall Street Analyst Weigh In
A number of equities research analysts recently weighed in on CAKE shares. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Cheesecake Factory from $43.00 to $35.00 and set a “hold” rating for the company in a research report on Tuesday, July 5th. Morgan Stanley decreased their price target on Cheesecake Factory from $37.00 to $26.00 and set an “underweight” rating for the company in a research note on Monday. Piper Sandler reduced their price objective on Cheesecake Factory from $38.00 to $30.00 and set a “neutral” rating for the company in a research report on Monday, July 11th. Citigroup lowered their price target on shares of Cheesecake Factory from $52.00 to $43.00 and set a “buy” rating on the stock in a report on Thursday, June 16th. Finally, Barclays dropped their target price on shares of Cheesecake Factory from $39.00 to $32.00 and set an “underweight” rating for the company in a research report on Thursday, June 9th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $45.33.
Institutional Trading of Cheesecake Factory
A number of hedge funds have recently made changes to their positions in CAKE. Walleye Capital LLC raised its stake in Cheesecake Factory by 51.9% in the 1st quarter. Walleye Capital LLC now owns 66,863 shares of the restaurant operator’s stock valued at $2,660,000 after acquiring an additional 22,844 shares during the period. Weiss Multi Strategy Advisers LLC bought a new position in Cheesecake Factory in the first quarter valued at approximately $10,360,000. Evergreen Capital Management LLC increased its stake in shares of Cheesecake Factory by 7.6% in the 1st quarter. Evergreen Capital Management LLC now owns 8,364 shares of the restaurant operator’s stock valued at $333,000 after purchasing an additional 590 shares during the last quarter. First Republic Investment Management Inc. raised its stake in Cheesecake Factory by 8.3% during the first quarter. First Republic Investment Management Inc. now owns 46,027 shares of the restaurant operator’s stock worth $1,831,000 after acquiring an additional 3,530 shares in the last quarter. Finally, State Street Corp lifted its holdings in shares of Cheesecake Factory by 4.0% in the first quarter. State Street Corp now owns 1,721,492 shares of the restaurant operator’s stock worth $68,498,000 after acquiring an additional 65,774 shares during the last quarter. 87.42% of the stock is owned by institutional investors and hedge funds.
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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