The Cheesecake Factory Inc. (CAKE) Stock Rating Upgraded by Argus
The Cheesecake Factory Inc. (NASDAQ:CAKE) was upgraded by equities researchers at Argus from a “hold” rating to a “buy” rating in a research note issued on Tuesday. The brokerage presently has a $69.00 price target on the stock. Argus’ target price suggests a potential upside of 21.33% from the company’s previous close. The analysts noted that the move was a valuation call.
CAKE has been the subject of several other research reports. Zacks Investment Research downgraded shares of The Cheesecake Factory from a “hold” rating to a “sell” rating in a report on Monday, July 18th. Jefferies Group reaffirmed a “hold” rating and issued a $51.00 price objective (up previously from $49.00) on shares of The Cheesecake Factory in a report on Friday, October 28th. Telsey Advisory Group raised shares of The Cheesecake Factory from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $56.00 to $61.00 in a report on Wednesday, November 9th. Barclays PLC upped their price objective 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, 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 report on Tuesday. Two investment 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 stock. The Cheesecake Factory presently has an average rating of “Hold” and an average price target of $56.26.
Shares of The Cheesecake Factory (NASDAQ:CAKE) opened at 56.87 on Tuesday. The stock has a market capitalization of $2.60 billion, a P/E ratio of 21.08 and a beta of 0.15. The stock’s 50 day moving average is $52.04 and its 200-day moving average is $51.01. The Cheesecake Factory has a one year low of $44.16 and a one year high of $60.16.
The Cheesecake Factory (NASDAQ:CAKE) last posted its quarterly earnings data on Wednesday, October 26th. The company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.09. The business earned $560 million during the quarter, compared to the consensus estimate of $356.58 million. The Cheesecake Factory had a net margin of 6.11% and a return on equity of 22.76%. The company’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.59 earnings per share. On average, equities research analysts expect 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. Investors of record on Wednesday, November 9th will be issued a $0.24 dividend. The ex-dividend date is Monday, November 7th. This represents a $0.96 dividend on an annualized basis and a yield of 1.69%. The Cheesecake Factory’s dividend payout ratio is currently 35.56%.
In related news, CFO Doug Benn sold 13,004 shares of the stock in a transaction that occurred on Thursday, November 10th. The stock was sold at an average price of $55.75, for a total value of $724,973.00. Following the transaction, the chief financial officer now owns 52,332 shares in the company, valued at $2,917,509. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 8.50% of the stock is owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the company. Rice Hall James & Associates LLC increased its position in The Cheesecake Factory by 1.4% in the second quarter. Rice Hall James & Associates LLC now owns 269,589 shares of the company’s stock worth $12,978,000 after buying an additional 3,689 shares in the last quarter. M&T Bank Corp bought a new stake in shares of The Cheesecake Factory during the first quarter worth about $209,000. BlackRock Group LTD boosted its stake in shares of The Cheesecake Factory by 12.2% in the first quarter. BlackRock Group LTD now owns 42,698 shares of the company’s stock worth $2,266,000 after buying an additional 4,636 shares during the last quarter. Springbok Capital Management LLC bought a new stake in shares of The Cheesecake Factory during the first quarter worth about $637,000. Finally, Nordea Investment Management AB boosted 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 worth $602,000 after buying an additional 9,607 shares during the last quarter. Hedge funds and other institutional investors 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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