Brokerages Set The Cheesecake Factory Incorporated (NASDAQ:CAKE) Target Price at $59.35

Shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE) have been given a consensus recommendation of “Hold” by the nineteen analysts that are currently covering the stock, MarketBeat.com reports. Four investment analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation and eight have issued a buy recommendation on the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $59.4118.

CAKE has been the topic of a number of research reports. Bank of America decreased their target price on shares of Cheesecake Factory from $61.00 to $56.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 29th. Wells Fargo & Company cut their price target on shares of Cheesecake Factory from $60.00 to $55.00 and set an “equal weight” rating for the company in a report on Wednesday, October 29th. Oppenheimer set a $70.00 target price on shares of Cheesecake Factory in a research note on Wednesday, October 29th. Mizuho set a $65.00 price objective on Cheesecake Factory and gave the company an “outperform” rating in a research note on Wednesday, October 29th. Finally, Morgan Stanley increased their price target on shares of Cheesecake Factory from $49.00 to $50.00 and gave the stock an “underweight” rating in a research report on Tuesday.

Hedge Funds Weigh In On Cheesecake Factory

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Ameritas Advisory Services LLC purchased a new stake in shares of Cheesecake Factory during the second quarter worth $28,000. Parkside Financial Bank & Trust grew its stake in Cheesecake Factory by 39.2% during the 2nd quarter. Parkside Financial Bank & Trust now owns 632 shares of the restaurant operator’s stock worth $40,000 after purchasing an additional 178 shares in the last quarter. Quarry LP increased its holdings in Cheesecake Factory by 3,343.8% during the 3rd quarter. Quarry LP now owns 1,102 shares of the restaurant operator’s stock worth $60,000 after purchasing an additional 1,070 shares during the period. Allworth Financial LP raised its position in Cheesecake Factory by 170.7% in the 3rd quarter. Allworth Financial LP now owns 1,164 shares of the restaurant operator’s stock valued at $64,000 after purchasing an additional 734 shares in the last quarter. Finally, CWM LLC raised its position in Cheesecake Factory by 36.7% in the 3rd quarter. CWM LLC now owns 1,357 shares of the restaurant operator’s stock valued at $74,000 after purchasing an additional 364 shares in the last quarter. Hedge funds and other institutional investors own 94.48% of the company’s stock.

Cheesecake Factory Stock Up 3.7%

NASDAQ CAKE opened at $59.83 on Monday. The business has a fifty day moving average price of $51.07 and a 200 day moving average price of $55.64. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.47 and a current ratio of 0.55. The company has a market cap of $2.98 billion, a P/E ratio of 18.13, a P/E/G ratio of 1.56 and a beta of 0.97. Cheesecake Factory has a one year low of $42.69 and a one year high of $69.70.

Cheesecake Factory (NASDAQ:CAKE) last released its earnings results on Tuesday, October 28th. The restaurant operator reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.08. The business had revenue of $907.23 million during the quarter, compared to analyst estimates of $912.95 million. Cheesecake Factory had a net margin of 4.33% and a return on equity of 46.35%. The company’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.58 earnings per share. Research analysts anticipate that Cheesecake Factory will post 3.71 EPS for the current fiscal year.

About Cheesecake Factory

The Cheesecake Factory Incorporated (NASDAQ:CAKE) is an American restaurant company and distributor renowned for its full-service casual-dining concept and specialty cheesecakes. Headquartered in Calabasas Hills, California, the company operates more than 200 restaurants under The Cheesecake Factory® brand across the United States, Puerto Rico and select international markets. In addition to sit-down dining, Cheesecake Factory franchised locations offer catering and take-out services, while a separate manufacturing arm supplies branded cheesecakes and desserts to supermarkets, hotels and other foodservice operators.

The origins of the brand trace back to a small cheesecake bakery founded in Detroit in the 1940s.