Wall Street Zen upgraded shares of Cheesecake Factory (NASDAQ:CAKE – Free Report) from a hold rating to a buy rating in a research report sent to investors on Saturday,Wall Street Zen reports.
Other analysts have also issued research reports about the stock. Weiss Ratings raised shares of Cheesecake Factory from a “buy (b)” rating to a “buy (b+)” rating in a report on Thursday, October 8th. Robert W. Baird boosted their price objective on shares of Cheesecake Factory from $105.00 to $120.00 and gave the stock a “neutral” rating in a research report on Thursday, October 22nd. Jefferies Financial Group downgraded Cheesecake Factory from a “buy” rating to a “hold” rating and upped their price objective for the stock from $75.00 to $88.00 in a report on Wednesday, July 29th. JPMorgan Chase & Co. increased their price objective on Cheesecake Factory from $92.00 to $105.00 and gave the company a “neutral” rating in a research report on Wednesday, August 26th. Finally, William Blair reissued an “outperform” rating on shares of Cheesecake Factory in a research note on Thursday, October 29th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, twelve have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Cheesecake Factory currently has a consensus rating of “Hold” and a consensus target price of $95.47.
Get Our Latest Analysis on Cheesecake Factory
Cheesecake Factory Stock Down 3.6%
Shares of NASDAQ CAKE opened at $106.76 on Friday. The firm’s 50-day simple moving average is $107.81 and its 200 day simple moving average is $80.97. The company has a market cap of $5.32 billion, a price-to-earnings ratio of 25.30, a price-to-earnings-growth ratio of 1.55 and a beta of 1.14. Cheesecake Factory has a 12-month low of $43.07 and a 12-month high of $118.63.
Cheesecake Factory (NASDAQ:CAKE – Get Free Report) last posted its quarterly earnings data on Tuesday, October 27th. The restaurant operator reported $1.02 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.06. Cheesecake Factory had a net margin of 5.20% and a return on equity of 44.53%. The firm had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.01 billion. During the same quarter last year, the company posted $0.66 EPS. The company’s quarterly revenue was up 13.9% compared to the same quarter last year. On average, equities analysts expect that Cheesecake Factory will post 4.68 earnings per share for the current year.
Cheesecake Factory Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 24th. Stockholders of record on Tuesday, November 10th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Tuesday, November 10th. Cheesecake Factory’s dividend payout ratio (DPR) is 28.44%.
Insider Buying and Selling
In related news, CFO Matthew Clark sold 23,832 shares of the business’s stock in a transaction that occurred on Thursday, October 29th. The shares were sold at an average price of $113.31, for a total transaction of $2,700,403.92. Following the completion of the sale, the chief financial officer directly owned 45,109 shares of the company’s stock, valued at $5,111,300.79. The trade was a 34.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Scarlett May sold 2,939 shares of the stock in a transaction that occurred on Thursday, October 29th. The shares were sold at an average price of $114.12, for a total transaction of $335,398.68. Following the completion of the transaction, the executive vice president owned 15,302 shares in the company, valued at $1,746,264.24. This represents a 16.11% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 64,104 shares of company stock worth $7,134,565. 8.00% of the stock is currently owned by company insiders.
Institutional Trading of Cheesecake Factory
Institutional investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP raised its position in shares of Cheesecake Factory by 2.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,242,143 shares of the restaurant operator’s stock valued at $68,008,000 after acquiring an additional 29,037 shares during the last quarter. Fisher Asset Management LLC boosted its position in shares of Cheesecake Factory by 3.0% in the 3rd quarter. Fisher Asset Management LLC now owns 482,442 shares of the restaurant operator’s stock worth $50,772,000 after purchasing an additional 13,970 shares during the last quarter. Bank of New York Mellon Corp acquired a new stake in shares of Cheesecake Factory during the second quarter worth $38,020,000. Bamco Inc. NY acquired a new stake in shares of Cheesecake Factory during the second quarter worth $35,793,000. Finally, TD Waterhouse Canada Inc. acquired a new stake in shares of Cheesecake Factory during the third quarter worth $13,792,000. Institutional investors and hedge funds own 94.48% of the company’s stock.
Cheesecake Factory News Summary
Here are the key news stories impacting Cheesecake Factory this week:
- Positive Sentiment: Zacks characterized CAKE as a strong momentum stock, a potentially supportive signal for trend-focused investors. The article does not point to a new company announcement or change in fundamentals. Zacks article
- Neutral Sentiment: Several articles discuss election results in districts with Cheesecake Factory locations, along with a political joke and references to the restaurant at an election-night event. These stories appear to use the chain as a cultural or geographic reference, not report changes to CAKE’s business. Article about election results in Cheesecake Factory districts Article about political coverage involving Cheesecake Factory
About Cheesecake Factory
The Cheesecake Factory Incorporated is a restaurant company best known for The Cheesecake Factory, a full-service casual dining brand offering an extensive menu of American and international-inspired dishes, along with a broad selection of cheesecakes and other desserts. The company also operates North Italia, an Italian restaurant concept, and owns Fox Restaurant Concepts, which develops and operates additional restaurant brands, including Flower Child and Culinary Dropout.
The company was founded by David Overton, who opened the first Cheesecake Factory restaurant in Beverly Hills, California, in 1978 after his parents began a cheesecake business.
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