Brokerages Set The Cheesecake Factory Incorporated (NASDAQ:CAKE) PT at $40.08

Shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE) have been given a consensus recommendation of “Hold” by the fourteen analysts that are currently covering the firm, Marketbeat Ratings reports. Three investment analysts have rated the stock with a sell recommendation, six have issued a hold recommendation and five have given a buy recommendation to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $40.08.

A number of analysts have recently issued reports on CAKE shares. Wedbush reaffirmed an “outperform” rating and issued a $45.00 price target on shares of Cheesecake Factory in a research note on Thursday, August 1st. Robert W. Baird increased their price target on shares of Cheesecake Factory from $37.00 to $40.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Stephens restated an “overweight” rating and set a $50.00 price target on shares of Cheesecake Factory in a report on Thursday, August 1st. JPMorgan Chase & Co. reduced their price objective on shares of Cheesecake Factory from $40.00 to $38.00 and set an “underweight” rating on the stock in a report on Tuesday, August 6th. Finally, Wells Fargo & Company boosted their target price on Cheesecake Factory from $36.00 to $38.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 1st.

Cheesecake Factory Stock Down 2.2 %

CAKE stock opened at $40.53 on Tuesday. Cheesecake Factory has a one year low of $28.63 and a one year high of $41.80. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.32 and a current ratio of 0.43. The firm’s fifty day moving average is $38.10 and its 200 day moving average is $37.49. The firm has a market cap of $2.07 billion, a PE ratio of 18.59, a P/E/G ratio of 1.14 and a beta of 1.49.

Cheesecake Factory (NASDAQ:CAKE) last posted its earnings results on Wednesday, July 31st. The restaurant operator reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $1.00 by $0.09. The firm had revenue of $904.04 million for the quarter, compared to analysts’ expectations of $909.19 million. Cheesecake Factory had a return on equity of 43.62% and a net margin of 3.32%. The company’s quarterly revenue was up 4.4% on a year-over-year basis. During the same period last year, the firm earned $0.88 EPS. On average, research analysts forecast that Cheesecake Factory will post 3.21 EPS for the current year.

Cheesecake Factory Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 27th. Stockholders of record on Wednesday, August 14th were paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 2.66%. The ex-dividend date of this dividend was Wednesday, August 14th. Cheesecake Factory’s dividend payout ratio (DPR) is presently 49.54%.

Institutional Trading of Cheesecake Factory

Hedge funds and other institutional investors have recently made changes to their positions in the company. Arizona State Retirement System raised its stake in shares of Cheesecake Factory by 2.5% during the 2nd quarter. Arizona State Retirement System now owns 13,593 shares of the restaurant operator’s stock worth $534,000 after buying an additional 337 shares during the last quarter. Louisiana State Employees Retirement System increased its position in shares of Cheesecake Factory by 2.2% in the second quarter. Louisiana State Employees Retirement System now owns 23,600 shares of the restaurant operator’s stock worth $927,000 after acquiring an additional 500 shares in the last quarter. ProShare Advisors LLC raised its position in Cheesecake Factory by 5.9% in the first quarter. ProShare Advisors LLC now owns 9,608 shares of the restaurant operator’s stock valued at $347,000 after purchasing an additional 537 shares during the period. Texas Permanent School Fund Corp lifted its position in Cheesecake Factory by 1.4% during the 1st quarter. Texas Permanent School Fund Corp now owns 40,881 shares of the restaurant operator’s stock worth $1,478,000 after acquiring an additional 547 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its holdings in Cheesecake Factory by 2,360.7% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 689 shares of the restaurant operator’s stock valued at $25,000 after purchasing an additional 661 shares in the last quarter. Hedge funds and other institutional investors own 94.48% of the company’s stock.

Cheesecake Factory Company Profile

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.