Cheesecake Factory (NASDAQ:CAKE) Price Target Raised to $41.00

Cheesecake Factory (NASDAQ:CAKE) had its target price increased by UBS Group from $36.00 to $41.00 in a report published on Tuesday,Benzinga reports. UBS Group currently has a sell rating on the restaurant operator’s stock.

CAKE has been the topic of a number of other research reports. Barclays lifted their price target on Cheesecake Factory from $38.00 to $44.00 and gave the stock an “underweight” rating in a research note on Wednesday, October 30th. Wedbush raised their price objective on Cheesecake Factory from $52.00 to $59.00 and gave the stock an “outperform” rating in a research report on Thursday, November 14th. Citigroup raised their price objective on Cheesecake Factory from $46.00 to $51.00 and gave the stock a “buy” rating in a research report on Friday, October 4th. Robert W. Baird raised their price objective on Cheesecake Factory from $40.00 to $47.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Finally, Wells Fargo & Company raised their price objective on Cheesecake Factory from $38.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $49.40.

Cheesecake Factory Trading Down 1.4 %

Shares of CAKE opened at $49.73 on Tuesday. The business’s 50-day moving average price is $48.58 and its 200 day moving average price is $42.36. The stock has a market capitalization of $2.54 billion, a P/E ratio of 18.91, a P/E/G ratio of 1.37 and a beta of 1.50. Cheesecake Factory has a 1-year low of $31.24 and a 1-year high of $52.10. The company has a current ratio of 0.44, a quick ratio of 0.33 and a debt-to-equity ratio of 1.19.

Cheesecake Factory (NASDAQ:CAKE) last issued its quarterly earnings results on Tuesday, October 29th. The restaurant operator reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.11. The firm had revenue of $865.50 million for the quarter, compared to analysts’ expectations of $866.13 million. Cheesecake Factory had a return on equity of 43.90% and a net margin of 3.63%. Cheesecake Factory’s revenue was up 4.3% on a year-over-year basis. During the same quarter last year, the business posted $0.39 EPS. Analysts expect that Cheesecake Factory will post 3.31 earnings per share for the current year.

Cheesecake Factory Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 26th. Stockholders of record on Wednesday, November 13th were issued a dividend of $0.27 per share. The ex-dividend date of this dividend was Wednesday, November 13th. This represents a $1.08 annualized dividend and a dividend yield of 2.17%. Cheesecake Factory’s dividend payout ratio is 41.06%.

Insider Activity at Cheesecake Factory

In related news, insider Keith Carango sold 13,095 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $49.88, for a total value of $653,178.60. Following the transaction, the insider now directly owns 14,977 shares of the company’s stock, valued at approximately $747,052.76. This trade represents a 46.65 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 8.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. Earnest Partners LLC increased its position in Cheesecake Factory by 2.8% in the 2nd quarter. Earnest Partners LLC now owns 2,831,381 shares of the restaurant operator’s stock worth $111,245,000 after buying an additional 76,578 shares during the period. State Street Corp increased its position in Cheesecake Factory by 3.7% in the 3rd quarter. State Street Corp now owns 1,876,295 shares of the restaurant operator’s stock worth $76,084,000 after buying an additional 67,550 shares during the period. Dimensional Fund Advisors LP increased its position in Cheesecake Factory by 3.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,241,272 shares of the restaurant operator’s stock worth $48,772,000 after buying an additional 43,128 shares during the period. Geode Capital Management LLC increased its position in Cheesecake Factory by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 1,118,549 shares of the restaurant operator’s stock worth $45,365,000 after buying an additional 12,493 shares during the period. Finally, American Century Companies Inc. increased its position in Cheesecake Factory by 31.1% in the 2nd quarter. American Century Companies Inc. now owns 942,694 shares of the restaurant operator’s stock worth $37,038,000 after buying an additional 223,497 shares during the period. 94.48% of the stock is owned by institutional investors.

About Cheesecake Factory

The Cheesecake Factory Incorporated operates and licenses restaurants in the United States and Canada. The company operates bakeries that produce cheesecakes and other baked products for its restaurants, international licensees, third-party bakery customers, external foodservice operators, retailers, and distributors.