The Cheesecake Factory Incorporated (CAKE) Price Target Lowered to $46.00 at Barclays PLC
The Cheesecake Factory Incorporated (NASDAQ:CAKE) had its price target trimmed by Barclays PLC from $48.00 to $46.00 in a report published on Wednesday. The firm currently has an equal weight rating on the restaurant operator’s stock.
A number of other brokerages also recently issued reports on CAKE. Argus downgraded The Cheesecake Factory from a buy rating to a hold rating in a research report on Tuesday, June 20th. Goldman Sachs Group, Inc. (The) reduced their price target on The Cheesecake Factory from $56.00 to $48.00 and set a sell rating on the stock in a research report on Wednesday, June 21st. Piper Jaffray Companies reaffirmed a buy rating and set a $65.00 price target on shares of The Cheesecake Factory in a research report on Wednesday, July 26th. Wedbush reaffirmed a buy rating on shares of The Cheesecake Factory in a research report on Thursday, July 13th. Finally, BidaskClub downgraded The Cheesecake Factory from a hold rating to a sell rating in a research report on Thursday, June 22nd. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have assigned a buy rating to the stock. The company has an average rating of Hold and an average price target of $52.12.
Shares of The Cheesecake Factory (NASDAQ:CAKE) traded up 0.65% during mid-day trading on Wednesday, reaching $43.28. The company’s stock had a trading volume of 423,577 shares. The firm’s 50 day moving average is $41.27 and its 200 day moving average is $50.88. The Cheesecake Factory has a one year low of $38.34 and a one year high of $67.14. The firm has a market cap of $1.99 billion, a PE ratio of 15.14 and a beta of 0.32.
The Cheesecake Factory (NASDAQ:CAKE) last issued its quarterly earnings data on Wednesday, August 2nd. The restaurant operator reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.02. The company had revenue of $569.87 million during the quarter, compared to the consensus estimate of $573.12 million. The Cheesecake Factory had a net margin of 6.10% and a return on equity of 22.92%. The Cheesecake Factory’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.78 earnings per share. On average, equities analysts anticipate that The Cheesecake Factory will post $2.65 earnings per share for the current fiscal year.
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Institutional investors and hedge funds have recently made changes to their positions in the company. Hendershot Investments Inc. grew its holdings in shares of The Cheesecake Factory by 4.3% during 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 during the last quarter. Sciencast Management LP purchased a new stake in shares of The Cheesecake Factory during the second quarter valued at $357,000. Kayne Anderson Rudnick Investment Management LLC grew its holdings in shares of The Cheesecake Factory by 11.3% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,587,785 shares of the restaurant operator’s stock valued at $79,866,000 after buying an additional 161,779 shares during the last quarter. Bridgewater Associates LP purchased a new stake in shares of The Cheesecake Factory during the second quarter valued at $606,000. Finally, Marshall Wace North America L.P. purchased a new stake in shares of The Cheesecake Factory during the first quarter valued at $1,644,000. 96.14% of the stock is currently owned by hedge funds and other institutional investors.
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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