The Cheesecake Factory Inc. (CAKE) Downgraded by Stephens to Equal Weight
Other research analysts also recently issued research reports about the stock. Jefferies Group restated a hold rating and set a $51.00 price target (up previously from $49.00) on shares of The Cheesecake Factory in a research report on Friday, October 28th. Argus upgraded shares of The Cheesecake Factory from a hold rating to a buy rating and set a $69.00 price target for the company in a research report on Tuesday. They noted that the move was a valuation call. Telsey Advisory Group upgraded shares of The Cheesecake Factory from a market perform rating to an outperform rating and upped their price target for the stock from $56.00 to $61.00 in a research report on Wednesday, November 9th. Barclays PLC upped their price target on shares of The Cheesecake Factory from $53.00 to $54.00 and gave the stock an equal weight rating in a research report on Thursday, July 28th. Finally, Maxim Group downgraded shares of The Cheesecake Factory from a buy rating to a hold rating and set a $59.00 price target for the company. in a research report on Tuesday. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of Hold and a consensus price target of $56.26.
Shares of The Cheesecake Factory (NASDAQ:CAKE) traded up 0.90% on Wednesday, hitting $57.38. The company’s stock had a trading volume of 398,762 shares. The Cheesecake Factory has a one year low of $44.16 and a one year high of $60.16. The firm has a market cap of $2721.53 billion, a price-to-earnings ratio of 21.25 and a beta of 0.15. The stock has a 50-day moving average price of $52.04 and a 200 day moving average price of $51.01.
The Cheesecake Factory (NASDAQ:CAKE) last posted its earnings results on Wednesday, October 26th. The company reported $0.70 earnings per share (EPS) for the quarter, topping 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 had revenue of $560 million for the quarter, compared to analyst estimates of $356.58 million. During the same period in the prior year, the company posted $0.59 EPS. The company’s revenue for the quarter was up 6.3% on a year-over-year basis. Equities research analysts predict that The Cheesecake Factory will post $2.83 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 22nd. Stockholders of record on Wednesday, November 9th will be issued a $0.24 dividend. The ex-dividend date of this dividend is Monday, November 7th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.69%. The Cheesecake Factory’s payout ratio is 35.56%.
In other news, CFO Doug Benn sold 13,004 shares of the firm’s stock in a transaction on Thursday, November 10th. The shares were sold at an average price of $55.75, for a total value of $724,973.00. Following the sale, the chief financial officer now directly owns 52,332 shares in the company, valued at approximately $2,917,509. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 8.50% of the stock is currently owned by insiders.
Several large investors have recently made changes to their positions in CAKE. Bank of Montreal Can bought a new stake in shares of The Cheesecake Factory during the second quarter valued at approximately $216,000. Parametrica Management Ltd bought a new stake in shares of The Cheesecake Factory during the second quarter valued at approximately $207,000. LS Investment Advisors LLC raised its stake in shares of The Cheesecake Factory by 66.1% in the second quarter. LS Investment Advisors LLC now owns 2,740 shares of the company’s stock valued at $132,000 after buying an additional 1,090 shares in the last quarter. Nordea Investment Management AB raised its stake in shares of The Cheesecake Factory by 331.0% in the second quarter. Nordea Investment Management AB now owns 12,509 shares of the company’s stock valued at $602,000 after buying an additional 9,607 shares in the last quarter. Finally, BNP Paribas Arbitrage SA raised its stake in shares of The Cheesecake Factory by 139.2% in the second quarter. BNP Paribas Arbitrage SA now owns 55,512 shares of the company’s stock valued at $2,672,000 after buying an additional 32,307 shares in the last quarter. Institutional investors and hedge funds own 89.77% of the company’s stock.
The Cheesecake Factory Company Profile
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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