The Cheesecake Factory Incorporated (NASDAQ:CAKE – Get Rating) was the recipient of a large drop in short interest during the month of September. As of September 15th, there was short interest totalling 7,410,000 shares, a drop of 5.8% from the August 31st total of 7,870,000 shares. Based on an average daily trading volume, of 1,030,000 shares, the short-interest ratio is currently 7.2 days.
Analyst Upgrades and Downgrades
CAKE has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Cheesecake Factory from $35.00 to $31.00 in a research note on Thursday, July 28th. Citigroup lifted their target price on shares of Cheesecake Factory from $39.00 to $40.00 in a research report on Thursday, July 28th. Morgan Stanley decreased their price objective 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. Stephens assumed coverage on shares of Cheesecake Factory in a research note on Thursday, September 22nd. They set an “overweight” rating and a $38.00 target price on the stock. Finally, Piper Sandler cut 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. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $40.00.
Hedge Funds Weigh In On Cheesecake Factory
Several institutional investors have recently bought and sold shares of CAKE. Millennium Management LLC lifted its position in Cheesecake Factory by 2,369.2% during the second quarter. Millennium Management LLC now owns 905,116 shares of the restaurant operator’s stock valued at $23,913,000 after purchasing an additional 868,460 shares during the last quarter. Frontier Capital Management Co. LLC raised its stake in shares of Cheesecake Factory by 32.5% in the first quarter. Frontier Capital Management Co. LLC now owns 1,816,789 shares of the restaurant operator’s stock valued at $72,290,000 after acquiring an additional 445,208 shares during the period. Samlyn Capital LLC purchased a new stake in shares of Cheesecake Factory in the second quarter valued at $10,018,000. Cubist Systematic Strategies LLC raised its stake in shares of Cheesecake Factory by 411.7% in the second quarter. Cubist Systematic Strategies LLC now owns 378,692 shares of the restaurant operator’s stock valued at $10,005,000 after acquiring an additional 304,683 shares during the period. Finally, Weiss Multi Strategy Advisers LLC purchased a new stake in shares of Cheesecake Factory in the first quarter valued at $10,360,000. Institutional investors own 84.62% of the company’s stock.
Cheesecake Factory Price Performance
Shares of NASDAQ:CAKE opened at $29.28 on Monday. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.54 and a current ratio of 0.63. The firm has a fifty day moving average price of $31.15 and a 200 day moving average price of $32.28. Cheesecake Factory has a fifty-two week low of $26.05 and a fifty-two week high of $50.04. The firm has a market cap of $1.53 billion, a price-to-earnings ratio of 17.96, a P/E/G ratio of 1.69 and a beta of 1.35.
Cheesecake Factory (NASDAQ:CAKE – Get Rating) last issued its earnings results on Wednesday, July 27th. The restaurant operator reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.26). Cheesecake Factory had a return on equity of 31.69% and a net margin of 2.65%. The company had revenue of $832.60 million for the quarter, compared to the consensus estimate of $836.64 million. During the same quarter in the prior year, the company posted $0.80 EPS. Cheesecake Factory’s revenue was up 8.3% compared to the same quarter last year. As a group, sell-side analysts expect that Cheesecake Factory will post 2.04 earnings per share for the current fiscal year.
Cheesecake Factory Announces Dividend
The firm also recently disclosed 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 of this dividend was Tuesday, August 9th. This represents a $1.08 annualized dividend and a yield of 3.69%. Cheesecake Factory’s dividend payout ratio (DPR) is currently 66.26%.
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.
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