Cheesecake Factory (NASDAQ:CAKE) Price Target Raised to $44.00

by · The Cerbat Gem

Cheesecake Factory (NASDAQ:CAKE – Free Report) had its price objective upped by Barclays from $38.00 to $44.00 in a research note issued to investors on Wednesday, Benzinga reports. Barclays currently has an underweight rating on the restaurant operator’s stock.

CAKE has been the topic of a number of other reports. JPMorgan Chase & Co. decreased their price objective on Cheesecake Factory from $40.00 to $38.00 and set an “underweight” rating on the stock in a report on Tuesday, August 6th. Bank of America boosted their price target on shares of Cheesecake Factory from $45.00 to $47.00 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. Wedbush upped their price objective on shares of Cheesecake Factory from $48.00 to $52.00 and gave the stock an “outperform” rating in a research note on Wednesday. Robert W. Baird lifted their target price on shares of Cheesecake Factory from $40.00 to $47.00 and gave the company a “neutral” rating in a research note on Wednesday. Finally, Wells Fargo & Company increased their price target on Cheesecake Factory from $38.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $44.17.

Read Our Latest Research Report on Cheesecake Factory

Cheesecake Factory Price Performance

NASDAQ CAKE opened at $45.82 on Wednesday. The stock has a market capitalization of $2.33 billion, a PE ratio of 17.42, a P/E/G ratio of 1.33 and a beta of 1.49. The stock has a 50-day simple moving average of $40.27 and a 200 day simple moving average of $38.50. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.32 and a current ratio of 0.43. Cheesecake Factory has a twelve month low of $29.27 and a twelve month high of $49.75.

Cheesecake Factory (NASDAQ:CAKE – Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The restaurant operator reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.11. Cheesecake Factory had a net margin of 3.63% and a return on equity of 45.66%. The company had revenue of $865.50 million for the quarter, compared to analyst estimates of $866.13 million. During the same period last year, the business posted $0.39 EPS. The business’s quarterly revenue was up 4.3% on a year-over-year basis. Research analysts anticipate that Cheesecake Factory will post 3.22 EPS for the current year.

Cheesecake Factory Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 26th. Investors of record on Wednesday, November 13th will be given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 2.36%. The ex-dividend date of this dividend is Wednesday, November 13th. Cheesecake Factory’s dividend payout ratio is currently 41.06%.

Institutional Investors Weigh In On Cheesecake Factory

Institutional investors and hedge funds have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC increased its stake in Cheesecake Factory by 2,360.7% in the first quarter. Allspring Global Investments Holdings LLC now owns 689 shares of the restaurant operator’s stock valued at $25,000 after acquiring an additional 661 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of Cheesecake Factory by 276.4% in the 2nd quarter. GAMMA Investing LLC now owns 1,449 shares of the restaurant operator’s stock valued at $57,000 after purchasing an additional 1,064 shares in the last quarter. nVerses Capital LLC bought a new position in shares of Cheesecake Factory in the 2nd quarter valued at $67,000. SG Americas Securities LLC bought a new position in shares of Cheesecake Factory in the 1st quarter valued at $121,000. Finally, Wealth Alliance acquired a new position in shares of Cheesecake Factory during the 2nd quarter worth $213,000. Institutional investors own 94.48% of the company’s stock.

Cheesecake Factory Company Profile

(Get Free Report)

The Cheesecake Factory Incorporated operates and licenses restaurants in the United States and Canada. The company operates bakeries that produce cheesecakes and other baked products for its restaurants, international licensees, third-party bakery customers, external foodservice operators, retailers, and distributors.

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