The Cheesecake Factory Incorporated (NASDAQ:CAKE) Coverage Initiated by Analysts at Instinet
Instinet initiated coverage on shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE) in a research report sent to investors on Wednesday, July 12th, Marketbeat reports. The brokerage issued a neutral rating and a $50.00 price objective on the restaurant operator’s stock.
Several other research analysts also recently commented on the company. Nomura began coverage on The Cheesecake Factory in a research note on Wednesday, July 12th. They set a neutral rating and a $50.00 target price for the company. Wedbush initiated coverage on The Cheesecake Factory in a report on Monday, July 10th. They set an outperform rating and a $57.00 price target on the stock. They noted that the move was a valuation call. BidaskClub cut The Cheesecake Factory from a hold rating to a sell rating in a report on Thursday, June 22nd. Goldman Sachs Group, Inc. (The) reduced their target price on The Cheesecake Factory from $56.00 to $48.00 and set a sell rating on the stock in a report on Wednesday, June 21st. Finally, Argus cut The Cheesecake Factory from a buy rating to a hold rating in a report on Tuesday, June 20th. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and five have issued a buy rating to the company. The Cheesecake Factory has an average rating of Hold and a consensus price target of $55.18.
Shares of The Cheesecake Factory (NASDAQ:CAKE) opened at 45.81 on Wednesday. The stock has a 50 day moving average of $50.13 and a 200 day moving average of $58.36. The company has a market cap of $2.11 billion, a price-to-earnings ratio of 16.02 and a beta of 0.31. The Cheesecake Factory has a 12-month low of $45.10 and a 12-month high of $67.14.
The Cheesecake Factory (NASDAQ:CAKE) last issued its earnings results on Wednesday, August 2nd. The restaurant operator reported $0.78 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.76 by $0.02. The firm had revenue of $569.87 million during the quarter, compared to the consensus estimate of $573.12 million. The Cheesecake Factory had a return on equity of 22.92% and a net margin of 6.10%. The business’s quarterly revenue was up 2.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.78 earnings per share. On average, equities analysts expect that The Cheesecake Factory will post $2.67 earnings per share for the current fiscal year.
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The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 29th. Investors of record on Wednesday, August 16th will be given a dividend of $0.29 per share. The ex-dividend date is Monday, August 14th. This is a positive change from The Cheesecake Factory’s previous quarterly dividend of $0.24. This represents a $1.16 annualized dividend and a dividend yield of 2.53%. The Cheesecake Factory’s payout ratio is currently 33.68%.
In other The Cheesecake Factory news, VP Debby R. Zurzolo sold 6,424 shares of The Cheesecake Factory stock in a transaction on Thursday, June 1st. The stock was sold at an average price of $59.09, for a total transaction of $379,594.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 8.50% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of CAKE. Waratah Capital Advisors Ltd. acquired a new position in The Cheesecake Factory during the first quarter valued at $4,628,000. Nordea Investment Management AB boosted its position in The Cheesecake Factory by 15.5% in the first quarter. Nordea Investment Management AB now owns 25,505 shares of the restaurant operator’s stock valued at $1,616,000 after buying an additional 3,419 shares in the last quarter. Hendershot Investments Inc. boosted its position in The Cheesecake Factory by 4.3% in the second quarter. Hendershot Investments Inc. now owns 69,805 shares of the restaurant operator’s stock valued at $3,511,000 after buying an additional 2,865 shares in the last quarter. Louisiana State Employees Retirement System boosted its position in The Cheesecake Factory by 2.8% in the first quarter. Louisiana State Employees Retirement System now owns 11,200 shares of the restaurant operator’s stock valued at $710,000 after buying an additional 300 shares in the last quarter. Finally, Mutual of America Capital Management LLC boosted its position in The Cheesecake Factory by 3.9% in the first quarter. Mutual of America Capital Management LLC now owns 35,790 shares of the restaurant operator’s stock valued at $2,268,000 after buying an additional 1,336 shares in the last quarter. Hedge funds and other institutional investors own 96.40% of the company’s stock.
About The Cheesecake Factory
The Cheesecake Factory Incorporated is engaged in the restaurant and bakery business. As of March 2, 2017, the Company operated 208 Company-owned restaurants: 194 under The Cheesecake Factory mark, 13 under the Grand Lux Cafe mark and one under the Rock Sugar Pan Asian Kitchen mark. The Company’s segments include The Cheesecake Factory restaurants, and other.
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