Analysts at Stephens assumed coverage on shares of Cheesecake Factory (NASDAQ:CAKE – Get Rating) in a report released on Thursday, The Fly reports. The firm set an “overweight” rating on the restaurant operator’s stock.
Several other brokerages have also recently issued reports on CAKE. Piper Sandler reduced their target price on Cheesecake Factory from $38.00 to $30.00 and set a “neutral” rating on the stock in a report on Monday, July 11th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Cheesecake Factory from $35.00 to $31.00 in a research note on Thursday, July 28th. UBS Group reduced their price target on Cheesecake Factory from $42.00 to $30.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 26th. Morgan Stanley cut their target price on Cheesecake Factory from $37.00 to $26.00 and set an “underweight” rating on the stock in a research report on Monday, July 18th. Finally, Citigroup upped their price target on shares of Cheesecake Factory from $39.00 to $40.00 in a report on Thursday, July 28th. Two analysts have rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $42.83.
Cheesecake Factory Price Performance
NASDAQ CAKE traded down $2.22 during trading on Thursday, reaching $29.14. The company’s stock had a trading volume of 1,494,765 shares, compared to its average volume of 1,016,951. The firm has a fifty day moving average of $30.97 and a 200 day moving average of $32.61. Cheesecake Factory has a one year low of $26.05 and a one year high of $51.19. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.63 and a quick ratio of 0.54. The stock has a market capitalization of $1.52 billion, a PE ratio of 17.88, a P/E/G ratio of 1.83 and a beta of 1.40.
Cheesecake Factory (NASDAQ:CAKE – Get Rating) last announced its earnings results on Wednesday, July 27th. The restaurant operator reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.79 by ($0.27). Cheesecake Factory had a return on equity of 31.69% and a net margin of 2.65%. The firm had revenue of $832.60 million during the quarter, compared to the consensus estimate of $836.64 million. During the same period in the prior year, the company posted $0.80 EPS. The firm’s revenue was up 8.3% on a year-over-year basis. Analysts expect that Cheesecake Factory will post 2.04 EPS for the current fiscal year.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently made changes to their positions in the company. Tcwp LLC acquired a new stake in Cheesecake Factory during the first quarter worth $43,000. Lindbrook Capital LLC grew its position in shares of Cheesecake Factory by 996.6% in the 1st quarter. Lindbrook Capital LLC now owns 2,599 shares of the restaurant operator’s stock valued at $103,000 after purchasing an additional 2,362 shares during the period. Quantbot Technologies LP boosted its position in Cheesecake Factory by 356.8% during the 2nd quarter. Quantbot Technologies LP now owns 3,965 shares of the restaurant operator’s stock worth $104,000 after acquiring an additional 3,097 shares during the last quarter. Prospera Financial Services Inc boosted its holdings in shares of Cheesecake Factory by 10.5% in the 2nd quarter. Prospera Financial Services Inc now owns 4,058 shares of the restaurant operator’s stock valued at $107,000 after buying an additional 387 shares during the last quarter. Finally, KBC Group NV bought a new position in Cheesecake Factory during the 2nd quarter worth $111,000. 84.62% of the stock is currently 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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