Cheesecake Factory (NASDAQ:CAKE) PT Raised to $47.00 at Bank of America

Cheesecake Factory (NASDAQ:CAKE) had its price objective upped by analysts at Bank of America from $45.00 to $47.00 in a note issued to investors on Tuesday, Benzinga reports. The firm presently has a “neutral” rating on the restaurant operator’s stock. Bank of America‘s target price would suggest a potential upside of 13.23% from the company’s previous close.

CAKE has been the topic of several other reports. Wells Fargo & Company raised their price objective on Cheesecake Factory from $36.00 to $38.00 and gave the company an “equal weight” rating in a research note on Thursday, August 1st. 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 report on Thursday, August 1st. Wedbush reiterated an “outperform” rating and issued a $45.00 price target on shares of Cheesecake Factory in a research note on Tuesday. Stephens restated an “overweight” rating and set a $50.00 price objective on shares of Cheesecake Factory in a research report on Tuesday. Finally, Barclays increased their target price on Cheesecake Factory from $35.00 to $38.00 and gave the company an “underweight” rating in a research report on Tuesday. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $42.18.

Cheesecake Factory Price Performance

CAKE stock opened at $41.51 on Tuesday. The company’s 50-day moving average price is $39.36 and its two-hundred day moving average price is $38.02. The firm has a market cap of $2.12 billion, a P/E ratio of 19.04, a P/E/G ratio of 1.13 and a beta of 1.49. The company has a quick ratio of 0.32, a current ratio of 0.43 and a debt-to-equity ratio of 1.26. Cheesecake Factory has a 12 month low of $29.27 and a 12 month high of $43.51.

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

Institutional Investors Weigh In On Cheesecake Factory

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Earnest Partners LLC increased its position in Cheesecake Factory by 2.8% in the 2nd quarter. Earnest Partners LLC now owns 2,831,381 shares of the restaurant operator’s stock valued at $111,245,000 after buying an additional 76,578 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Cheesecake Factory by 3.6% in the second quarter. Dimensional Fund Advisors LP now owns 1,241,272 shares of the restaurant operator’s stock valued at $48,772,000 after acquiring an additional 43,128 shares during the period. American Century Companies Inc. increased its holdings in shares of Cheesecake Factory by 31.1% during the second quarter. American Century Companies Inc. now owns 942,694 shares of the restaurant operator’s stock valued at $37,038,000 after acquiring an additional 223,497 shares in the last quarter. William Blair Investment Management LLC raised its position in shares of Cheesecake Factory by 8.0% during the second quarter. William Blair Investment Management LLC now owns 819,328 shares of the restaurant operator’s stock worth $32,191,000 after purchasing an additional 60,545 shares during the period. Finally, Natixis Advisors LLC lifted its holdings in shares of Cheesecake Factory by 0.7% in the 2nd quarter. Natixis Advisors LLC now owns 530,497 shares of the restaurant operator’s stock worth $20,843,000 after purchasing an additional 3,872 shares in the last quarter. 94.48% of the stock is 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.