Cheesecake Factory (NASDAQ:CAKE) Upgraded at BidaskClub
Other equities analysts also recently issued reports about the stock. TheStreet downgraded shares of Cheesecake Factory from a b rating to a c+ rating in a report on Wednesday, May 29th. Wells Fargo & Co raised shares of Cheesecake Factory from a market perform rating to an outperform rating and set a $50.00 price objective on the stock in a report on Friday, September 6th. JPMorgan Chase & Co. cut their price target on shares of Cheesecake Factory from $52.00 to $45.00 and set a neutral rating on the stock in a report on Friday, June 28th. Wedbush cut their price target on shares of Cheesecake Factory from $45.00 to $43.00 and set a neutral rating on the stock in a report on Thursday, August 1st. Finally, Telsey Advisory Group reissued a market perform rating and issued a $50.00 price target (down from $54.00) on shares of Cheesecake Factory in a report on Thursday, August 1st. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the stock. The company has a consensus rating of Hold and an average price target of $49.58.
CAKE opened at $40.03 on Wednesday. The company has a debt-to-equity ratio of 1.81, a current ratio of 0.36 and a quick ratio of 0.26. The company has a market capitalization of $1.79 billion, a price-to-earnings ratio of 16.47, a P/E/G ratio of 1.38 and a beta of 0.43. The firm’s fifty day moving average price is $39.59 and its two-hundred day moving average price is $44.40. Cheesecake Factory has a 1 year low of $35.83 and a 1 year high of $54.20.
The business also recently declared a quarterly dividend, which was paid on Tuesday, August 27th. Investors of record on Wednesday, August 14th were issued a $0.36 dividend. This is an increase from Cheesecake Factory’s previous quarterly dividend of $0.33. This represents a $1.44 dividend on an annualized basis and a dividend yield of 3.60%. The ex-dividend date was Tuesday, August 13th. Cheesecake Factory’s payout ratio is 59.26%.
In other news, Director Laurence B. Mindel acquired 2,500 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were acquired at an average cost of $39.04 per share, for a total transaction of $97,600.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Edie A. Ames acquired 750 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was purchased at an average price of $42.18 per share, for a total transaction of $31,635.00. Following the completion of the purchase, the director now directly owns 3,880 shares in the company, valued at approximately $163,658.40. The disclosure for this purchase can be found here. 8.50% of the stock is currently owned by insiders.
A number of institutional investors have recently made changes to their positions in CAKE. Dimensional Fund Advisors LP raised its stake in Cheesecake Factory by 7.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,413,874 shares of the restaurant operator’s stock valued at $61,516,000 after acquiring an additional 95,965 shares during the period. Geode Capital Management LLC raised its stake in Cheesecake Factory by 6.4% in the 4th quarter. Geode Capital Management LLC now owns 515,688 shares of the restaurant operator’s stock valued at $22,437,000 after acquiring an additional 30,830 shares during the period. Rhumbline Advisers raised its stake in Cheesecake Factory by 4.2% in the 1st quarter. Rhumbline Advisers now owns 147,452 shares of the restaurant operator’s stock valued at $7,213,000 after acquiring an additional 5,930 shares during the period. Texas Permanent School Fund raised its stake in Cheesecake Factory by 3.8% in the 1st quarter. Texas Permanent School Fund now owns 28,319 shares of the restaurant operator’s stock valued at $1,385,000 after acquiring an additional 1,026 shares during the period. Finally, Victory Capital Management Inc. raised its stake in Cheesecake Factory by 50.3% in the 1st quarter. Victory Capital Management Inc. now owns 30,474 shares of the restaurant operator’s stock valued at $1,491,000 after acquiring an additional 10,200 shares during the period.
Cheesecake Factory Company Profile
The Cheesecake Factory Incorporated engages in the operation of restaurants. The company produces cheesecakes and other baked products for own restaurants and international licensees, as well as external foodservice operators, retailers, and distributors. As of April 16, 2019, it owned and operated 219 full-service casual-dining restaurants in the United States, including Puerto Rico and Canada comprising 202 restaurants under The Cheesecake Factory name; 14 restaurants under the Grand Lux Café name; and 2 restaurants under the RockSugar Southeast Asian Kitchen name, as well as 22 The Cheesecake Factory restaurants under licensing agreements internationally.
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