Cheesecake Factory (NASDAQ:CAKE) Price Target Raised to $70.00

Cheesecake Factory (NASDAQ:CAKE) had its target price upped by Mizuho from $65.00 to $70.00 in a report released on Thursday,Benzinga reports. The brokerage currently has an outperform rating on the restaurant operator’s stock.

A number of other research analysts have also weighed in on the stock. Jefferies Financial Group set a $70.00 target price on shares of Cheesecake Factory and gave the stock a “buy” rating in a research note on Wednesday, October 29th. Weiss Ratings cut Cheesecake Factory from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, January 15th. JPMorgan Chase & Co. reduced their price objective on Cheesecake Factory from $57.00 to $52.00 and set an “underweight” rating on the stock in a research report on Thursday, October 30th. Citigroup boosted their price objective on Cheesecake Factory from $65.00 to $72.00 and gave the stock a “buy” rating in a research note on Monday, February 9th. Finally, Stephens cut their target price on Cheesecake Factory from $70.00 to $64.00 and set an “overweight” rating for the company in a research note on Wednesday, October 29th. Eight research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $60.12.

Cheesecake Factory Trading Down 0.0%

Shares of CAKE opened at $58.67 on Thursday. Cheesecake Factory has a 52-week low of $42.69 and a 52-week high of $69.70. The stock has a market cap of $2.92 billion, a PE ratio of 17.78, a price-to-earnings-growth ratio of 1.49 and a beta of 1.02. The firm’s fifty day moving average is $55.66 and its two-hundred day moving average is $55.10. The company has a quick ratio of 0.47, a current ratio of 0.55 and a debt-to-equity ratio of 1.32.

Hedge Funds Weigh In On Cheesecake Factory

Large investors have recently made changes to their positions in the stock. CANADA LIFE ASSURANCE Co increased its holdings in Cheesecake Factory by 9.8% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 41,988 shares of the restaurant operator’s stock valued at $2,120,000 after purchasing an additional 3,737 shares during the last quarter. Morgan Stanley boosted its position in shares of Cheesecake Factory by 13.6% during the fourth quarter. Morgan Stanley now owns 1,145,216 shares of the restaurant operator’s stock worth $57,811,000 after buying an additional 136,978 shares during the period. Headlands Technologies LLC boosted its position in shares of Cheesecake Factory by 94.4% during the fourth quarter. Headlands Technologies LLC now owns 33,124 shares of the restaurant operator’s stock worth $1,672,000 after buying an additional 16,084 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of Cheesecake Factory by 1.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 597,400 shares of the restaurant operator’s stock valued at $30,157,000 after buying an additional 6,188 shares in the last quarter. Finally, State Street Corp raised its holdings in shares of Cheesecake Factory by 0.3% in the 4th quarter. State Street Corp now owns 1,785,955 shares of the restaurant operator’s stock valued at $90,155,000 after buying an additional 4,535 shares during the period. 94.48% of the stock is currently owned by institutional investors and hedge funds.

Cheesecake Factory Company Profile

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.