The Cheesecake Factory Incorporated (NASDAQ:CAKE – Get Rating) was the target of unusually large options trading activity on Thursday. Stock traders acquired 3,236 call options on the stock. This represents an increase of 260% compared to the typical daily volume of 898 call options.
Cheesecake Factory Trading Up 2.2 %
Shares of Cheesecake Factory stock traded up $0.71 during trading on Thursday, reaching $33.50. The company’s stock had a trading volume of 14,765 shares, compared to its average volume of 934,944. Cheesecake Factory has a 52-week low of $26.05 and a 52-week high of $51.19. The company has a market cap of $1.75 billion, a price-to-earnings ratio of 20.12, a PEG ratio of 1.89 and a beta of 1.40. The firm’s 50-day moving average is $30.46 and its two-hundred day moving average is $32.88. The company has a quick ratio of 0.54, a current ratio of 0.63 and a debt-to-equity ratio of 1.29.
Cheesecake Factory (NASDAQ:CAKE – Get Rating) last announced its quarterly earnings results on Wednesday, July 27th. The restaurant operator reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.79 by ($0.27). The firm had revenue of $832.60 million for the quarter, compared to analysts’ expectations of $836.64 million. Cheesecake Factory had a net margin of 2.65% and a return on equity of 31.69%. The company’s quarterly revenue was up 8.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.80 EPS. On average, sell-side analysts anticipate that Cheesecake Factory will post 2.04 earnings per share for the current year.
Cheesecake Factory Dividend Announcement
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The company also recently declared a quarterly dividend, which was paid on Tuesday, August 23rd. Shareholders of record on Wednesday, August 10th were given a dividend of $0.27 per share. The ex-dividend date was Tuesday, August 9th. This represents a $1.08 annualized dividend and a yield of 3.22%. Cheesecake Factory’s payout ratio is currently 66.26%.
Institutional Investors Weigh In On Cheesecake Factory
Several institutional investors and hedge funds have recently modified their holdings of CAKE. Raymond James Financial Services Advisors Inc. lifted its position in shares of Cheesecake Factory by 204.1% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 29,199 shares of the restaurant operator’s stock worth $1,143,000 after purchasing an additional 19,596 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Cheesecake Factory by 0.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,001,790 shares of the restaurant operator’s stock worth $39,221,000 after acquiring an additional 3,187 shares in the last quarter. Teacher Retirement System of Texas increased its stake in shares of Cheesecake Factory by 37.9% in the 4th quarter. Teacher Retirement System of Texas now owns 9,680 shares of the restaurant operator’s stock worth $379,000 after acquiring an additional 2,661 shares in the last quarter. Qube Research & Technologies Ltd increased its stake in shares of Cheesecake Factory by 32.7% in the 4th quarter. Qube Research & Technologies Ltd now owns 8,652 shares of the restaurant operator’s stock worth $339,000 after acquiring an additional 2,131 shares in the last quarter. Finally, Rhumbline Advisers increased its stake in shares of Cheesecake Factory by 3.4% in the 4th quarter. Rhumbline Advisers now owns 122,261 shares of the restaurant operator’s stock worth $4,787,000 after acquiring an additional 4,055 shares in the last quarter. 84.62% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of research firms have weighed in on CAKE. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Cheesecake Factory from $35.00 to $31.00 in a research note on Thursday, July 28th. Piper Sandler dropped their target price on shares of Cheesecake Factory from $38.00 to $30.00 and set a “neutral” rating on the stock in a research note on Monday, July 11th. Citigroup boosted their target price on shares of Cheesecake Factory from $39.00 to $40.00 in a research note on Thursday, July 28th. UBS Group lowered their price target on shares of Cheesecake Factory from $42.00 to $30.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 26th. Finally, Morgan Stanley lowered their price target on shares of Cheesecake Factory from $37.00 to $26.00 and set an “underweight” rating on the stock in a research report on Monday, July 18th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $42.83.
Cheesecake Factory Company Profile
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.
Further Reading
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