Wells Fargo & Company Boosts Cheesecake Factory (NASDAQ:CAKE) Price Target to $105.00

by · The Markets Daily

Cheesecake Factory (NASDAQ:CAKE – Get Free Report) had its price objective lifted by research analysts at Wells Fargo & Company from $90.00 to $105.00 in a research note issued on Tuesday, Benzinga reports. The brokerage currently has an “equal weight” rating on the restaurant operator’s stock. Wells Fargo & Company‘s price objective indicates a potential downside of 0.16% from the company’s previous close.

CAKE has been the topic of a number of other research reports. Argus boosted their target price on Cheesecake Factory from $72.00 to $110.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Morgan Stanley upgraded Cheesecake Factory from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $50.00 to $80.00 in a report on Wednesday, July 29th. Jefferies Financial Group cut Cheesecake Factory from a “buy” rating to a “hold” rating and boosted their price objective for the stock from $75.00 to $88.00 in a research report on Wednesday, July 29th. Stephens restated a “positive” rating on shares of Cheesecake Factory in a research note on Wednesday, July 29th. Finally, Robert W. Baird raised Cheesecake Factory to a “hold” rating in a research report on Monday, August 24th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $85.47.

View Our Latest Analysis on CAKE

Cheesecake Factory Stock Up 2.4%

CAKE opened at $105.17 on Tuesday. Cheesecake Factory has a fifty-two week low of $43.07 and a fifty-two week high of $118.46. The firm has a market capitalization of $5.23 billion, a P/E ratio of 28.50, a PEG ratio of 1.68 and a beta of 1.01. The company’s 50-day moving average is $100.16 and its 200 day moving average is $76.77. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.59 and a quick ratio of 0.52.

Cheesecake Factory (NASDAQ:CAKE – Get Free Report) last issued its quarterly earnings data on Tuesday, July 28th. The restaurant operator reported $1.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.18 by $0.26. The business had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $999.54 million. Cheesecake Factory had a net margin of 4.61% and a return on equity of 43.97%. The firm’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.16 EPS. Research analysts expect that Cheesecake Factory will post 4.53 earnings per share for the current fiscal year.

Insider Buying and Selling at Cheesecake Factory

In other news, EVP Scarlett May sold 7,978 shares of the company’s stock in a transaction on Friday, July 31st. The stock was sold at an average price of $102.66, for a total transaction of $819,021.48. Following the transaction, the executive vice president owned 18,241 shares of the company’s stock, valued at $1,872,621.06. This represents a 30.43% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President David M. Gordon sold 31,950 shares of Cheesecake Factory stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $110.03, for a total value of $3,515,458.50. Following the completion of the sale, the president directly owned 26,875 shares of the company’s stock, valued at approximately $2,957,056.25. This trade represents a 54.31% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 213,749 shares of company stock valued at $22,301,899 in the last quarter. Insiders own 8.00% of the company’s stock.

Institutional Investors Weigh In On Cheesecake Factory

Institutional investors have recently added to or reduced their stakes in the business. Tidal Investments LLC boosted its position in Cheesecake Factory by 13.9% during the second quarter. Tidal Investments LLC now owns 10,145 shares of the restaurant operator’s stock worth $807,000 after purchasing an additional 1,238 shares during the period. Nykredit A S purchased a new stake in shares of Cheesecake Factory during the 2nd quarter valued at approximately $212,000. Corient Private Wealth LP lifted its stake in shares of Cheesecake Factory by 269.9% during the 2nd quarter. Corient Private Wealth LP now owns 100,951 shares of the restaurant operator’s stock valued at $8,030,000 after buying an additional 73,659 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Cheesecake Factory during the 2nd quarter valued at approximately $239,000. Finally, California State Teachers Retirement System boosted its holdings in Cheesecake Factory by 7,444.0% in the 2nd quarter. California State Teachers Retirement System now owns 4,192,633 shares of the restaurant operator’s stock worth $333,482,000 after buying an additional 4,137,057 shares during the period. 94.48% of the stock is owned by hedge funds and other institutional investors.

About Cheesecake Factory

(Get Free Report)

The Cheesecake Factory Incorporated (NASDAQ: CAKE) operates full-service casual dining restaurants in the United States. Its flagship Cheesecake Factory restaurants offer an extensive menu of made-to-order dishes spanning American and international cuisines, along with a broad selection of cheesecakes and other desserts.

The company also operates North Italia, an Italian restaurant concept, and restaurants developed through Fox Restaurant Concepts. In addition, its bakery division produces cheesecakes and other baked goods for the company’s restaurants, retailers, and other foodservice customers.

Founded in 1978 by David Overton, The Cheesecake Factory began as a bakery business before opening its first restaurant in Beverly Hills, California, in 1978.

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