Cheesecake Factory (NASDAQ:CAKE) Price Target Raised to $51.00

Cheesecake Factory (NASDAQ:CAKE) had its price objective increased by Stephens from $50.00 to $51.00 in a research report report published on Wednesday morning, Benzinga reports. The firm currently has an overweight rating on the restaurant operator’s stock.

Several other research firms have also recently issued reports on CAKE. Wells Fargo & Company upped their price target on shares of Cheesecake Factory from $36.00 to $38.00 and gave the company an “equal weight” rating in a report on Thursday, August 1st. Robert W. Baird lifted their price target on Cheesecake Factory from $40.00 to $47.00 and gave the stock a “neutral” rating in a research note on Wednesday. Barclays upped their price objective on Cheesecake Factory from $35.00 to $38.00 and gave the company an “underweight” rating in a research note on Tuesday, October 22nd. JPMorgan Chase & Co. decreased their target price on Cheesecake Factory from $40.00 to $38.00 and set an “underweight” rating for the company in a research report on Tuesday, August 6th. Finally, UBS Group raised their price objective on Cheesecake Factory from $32.00 to $36.00 and gave the stock a “sell” rating in a research note on Friday, October 25th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $44.17.

Cheesecake Factory Stock Performance

Shares of CAKE stock opened at $45.82 on Wednesday. The company’s fifty day moving average price is $40.27 and its two-hundred day moving average price is $38.50. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.43 and a quick ratio of 0.32. The firm has a market capitalization of $2.33 billion, a P/E ratio of 17.42, a P/E/G ratio of 1.33 and a beta of 1.49. Cheesecake Factory has a 12 month low of $29.27 and a 12 month high of $49.75.

Cheesecake Factory (NASDAQ:CAKE) last released its quarterly earnings results on Tuesday, October 29th. The restaurant operator reported $0.58 EPS for the quarter, topping the consensus estimate of $0.47 by $0.11. Cheesecake Factory had a return on equity of 45.66% and a net margin of 3.63%. The business had revenue of $865.50 million for the quarter, compared to analysts’ expectations of $866.13 million. During the same quarter in the previous year, the firm posted $0.39 earnings per share. The company’s revenue was up 4.3% compared to the same quarter last year. On average, research analysts anticipate that Cheesecake Factory will post 3.22 earnings per share for the current fiscal year.

Cheesecake Factory Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 26th. Stockholders of record on Wednesday, November 13th will be paid a $0.27 dividend. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $1.08 annualized dividend and a dividend yield of 2.36%. Cheesecake Factory’s dividend payout ratio is currently 41.06%.

Institutional Trading of Cheesecake Factory

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC lifted its position in shares of Cheesecake Factory by 2,360.7% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 689 shares of the restaurant operator’s stock valued at $25,000 after acquiring an additional 661 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of Cheesecake Factory by 276.4% in the second quarter. GAMMA Investing LLC now owns 1,449 shares of the restaurant operator’s stock worth $57,000 after buying an additional 1,064 shares during the period. nVerses Capital LLC purchased a new position in shares of Cheesecake Factory in the second quarter worth approximately $67,000. SG Americas Securities LLC purchased a new stake in shares of Cheesecake Factory in the 1st quarter valued at approximately $121,000. Finally, Wealth Alliance acquired a new stake in Cheesecake Factory during the 2nd quarter valued at $213,000. 94.48% of the stock is owned by institutional investors and hedge funds.

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.