The Cheesecake Factory Inc. (CAKE) Lowered to Hold at Maxim Group
Maxim Group cut shares of The Cheesecake Factory Inc. (NASDAQ:CAKE) from a buy rating to a hold rating in a report published on Tuesday morning. Maxim Group currently has $59.00 price objective on the stock.
Other research analysts also recently issued research reports about the stock. Zacks Investment Research upgraded shares of The Cheesecake Factory from a sell rating to a hold rating in a report on Monday, July 25th. Stifel Nicolaus downgraded shares of The Cheesecake Factory from a buy rating to a sell rating and dropped their target price for the stock from $65.00 to $43.00 in a report on Tuesday, July 26th. Telsey Advisory Group upgraded shares of The Cheesecake Factory from a market perform rating to an outperform rating and lifted their target price for the stock from $56.00 to $61.00 in a report on Wednesday, November 9th. Barclays PLC lifted their target price on shares of The Cheesecake Factory from $53.00 to $54.00 and gave the stock an equal weight rating in a report on Thursday, July 28th. Finally, Jefferies Group reiterated a hold rating and issued a $51.00 target price (up previously from $49.00) on shares of The Cheesecake Factory in a report on Friday, October 28th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. The company has an average rating of Hold and a consensus target price of $56.26.
Shares of The Cheesecake Factory (NASDAQ:CAKE) traded down 1.60% during trading on Tuesday, hitting $57.24. 1,475,501 shares of the stock traded hands. The Cheesecake Factory has a one year low of $44.16 and a one year high of $60.16. The firm has a 50 day moving average price of $52.02 and a 200-day moving average price of $50.96. The company has a market cap of $2.62 billion, a PE ratio of 21.22 and a beta of 0.15.
The Cheesecake Factory (NASDAQ:CAKE) last released its quarterly earnings data on Wednesday, October 26th. The company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.09. The Cheesecake Factory had a net margin of 6.11% and a return on equity of 22.76%. The business earned $560 million during the quarter, compared to analyst estimates of $356.58 million. During the same quarter in the previous year, the business earned $0.59 EPS. The Cheesecake Factory’s quarterly revenue was up 6.3% compared to the same quarter last year. Analysts anticipate that The Cheesecake Factory will post $2.83 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 22nd. Investors of record on Wednesday, November 9th will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 1.65%. The ex-dividend date of this dividend is Monday, November 7th. The Cheesecake Factory’s payout ratio is 35.56%.
In related news, CFO Doug Benn sold 13,004 shares of the stock in a transaction on Thursday, November 10th. The shares were sold at an average price of $55.75, for a total transaction of $724,973.00. Following the completion of the transaction, the chief financial officer now owns 52,332 shares in the company, valued at $2,917,509. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 8.50% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of The Cheesecake Factory by 5.0% in the second quarter. Vanguard Group Inc. now owns 3,344,266 shares of the company’s stock worth $160,992,000 after buying an additional 159,860 shares in the last quarter. BlackRock Fund Advisors boosted its stake in shares of The Cheesecake Factory by 5.7% in the third quarter. BlackRock Fund Advisors now owns 2,379,057 shares of the company’s stock worth $119,096,000 after buying an additional 127,771 shares in the last quarter. BlackRock Institutional Trust Company N.A. boosted its stake in shares of The Cheesecake Factory by 7.9% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 1,607,009 shares of the company’s stock worth $77,361,000 after buying an additional 117,546 shares in the last quarter. State Street Corp boosted its stake in shares of The Cheesecake Factory by 1.3% in the first quarter. State Street Corp now owns 1,511,119 shares of the company’s stock worth $80,223,000 after buying an additional 19,751 shares in the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC boosted its stake in shares of The Cheesecake Factory by 16.1% in the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,390,747 shares of the company’s stock worth $69,620,000 after buying an additional 193,125 shares in the last quarter. Hedge funds and other institutional investors own 89.77% of the company’s stock.
About The Cheesecake Factory
The Cheesecake Factory Incorporated is engaged in the restaurant and bakery business. The Company operates approximately 200 Company-owned restaurants, including approximately 190 restaurants under The Cheesecake Factory mark and approximately 10 restaurants under the Grand Lux Cafe mark. The Company’s segments include The Cheesecake Factory restaurants, and other, which includes Grand Lux Cafe, RockSugar Pan Asian Kitchen, bakery and international licensing.
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