Cheesecake Factory (NASDAQ:CAKE) PT Raised to $38.00

Cheesecake Factory (NASDAQ:CAKE) had its price target hoisted by Barclays from $35.00 to $38.00 in a research report sent to investors on Tuesday, Benzinga reports. The firm currently has an underweight rating on the restaurant operator’s stock.

A number of other equities analysts also recently weighed in on the stock. Robert W. Baird raised their target price on shares of Cheesecake Factory from $37.00 to $40.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Wells Fargo & Company raised their price target on shares of Cheesecake Factory from $36.00 to $38.00 and gave the company an “equal weight” rating in a research report on Thursday, August 1st. JPMorgan Chase & Co. reduced their price target on shares of Cheesecake Factory from $40.00 to $38.00 and set an “underweight” rating for the company in a research report on Tuesday, August 6th. Wedbush reaffirmed an “outperform” rating and issued a $45.00 target price on shares of Cheesecake Factory in a research report on Tuesday. Finally, Citigroup lifted their target price on shares of Cheesecake Factory from $46.00 to $51.00 and gave the stock a “buy” rating in a research report on Friday, October 4th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $42.18.

Cheesecake Factory Stock Performance

Cheesecake Factory stock opened at $42.04 on Tuesday. The company has a current ratio of 0.43, a quick ratio of 0.32 and a debt-to-equity ratio of 1.26. Cheesecake Factory has a 1-year low of $29.27 and a 1-year high of $43.51. The firm has a 50-day moving average of $39.24 and a 200-day moving average of $37.96. The firm has a market cap of $2.14 billion, a P/E ratio of 19.28, a P/E/G ratio of 1.13 and a beta of 1.49.

Cheesecake Factory (NASDAQ:CAKE) last issued its quarterly earnings data on Wednesday, July 31st. The restaurant operator reported $1.09 EPS for the quarter, topping the consensus estimate of $1.00 by $0.09. Cheesecake Factory had a net margin of 3.32% and a return on equity of 43.62%. The business had revenue of $904.04 million during the quarter, compared to analyst estimates of $909.19 million. During the same period last year, the business posted $0.88 earnings per share. Cheesecake Factory’s quarterly revenue was up 4.4% compared to the same quarter last year. Sell-side analysts expect that Cheesecake Factory will post 3.21 EPS for the current year.

Cheesecake Factory Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 27th. Shareholders of record on Wednesday, August 14th were issued a $0.27 dividend. The ex-dividend date was Wednesday, August 14th. This represents a $1.08 dividend on an annualized basis and a yield of 2.57%. Cheesecake Factory’s dividend payout ratio is currently 49.54%.

Institutional Trading of Cheesecake Factory

Institutional investors and hedge funds have recently bought and sold shares of the stock. 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 during the last quarter. New Century Financial Group LLC purchased a new stake in shares of Cheesecake Factory in the 1st quarter worth approximately $1,108,000. Texas Permanent School Fund Corp lifted its position in shares of Cheesecake Factory by 1.4% in the 1st quarter. Texas Permanent School Fund Corp now owns 40,881 shares of the restaurant operator’s stock worth $1,478,000 after purchasing an additional 547 shares during the period. Duality Advisers LP purchased a new stake in shares of Cheesecake Factory in the 1st quarter worth approximately $1,829,000. Finally, Sciencast Management LP purchased a new stake in shares of Cheesecake Factory in the 1st quarter worth approximately $400,000. 94.48% of the stock is currently owned by institutional investors.

About Cheesecake Factory

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.