Cheesecake Factory (NASDAQ:CAKE) Price Target Raised to $56.00 at Raymond James

Cheesecake Factory (NASDAQ:CAKE) had its target price upped by stock analysts at Raymond James from $51.00 to $56.00 in a report released on Monday,Benzinga reports. The firm presently has an “outperform” rating on the restaurant operator’s stock. Raymond James’ price objective points to a potential upside of 11.13% from the stock’s current price.

A number of other brokerages have also recently commented on CAKE. UBS Group lifted their price target on Cheesecake Factory from $32.00 to $36.00 and gave the stock a “sell” rating in a research report on Friday, October 25th. Barclays lifted their price target on Cheesecake Factory from $38.00 to $44.00 and gave the stock an “underweight” rating in a research report on Wednesday, October 30th. Wedbush lifted their price target on Cheesecake Factory from $52.00 to $59.00 and gave the stock an “outperform” rating in a research report on Thursday, November 14th. Bank of America lifted their price target on Cheesecake Factory from $47.00 to $49.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Finally, Stephens lifted their price target on Cheesecake Factory from $51.00 to $57.00 and gave the stock an “overweight” rating in a research report on Thursday, December 12th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $47.93.

Cheesecake Factory Trading Down 1.9 %

Shares of NASDAQ:CAKE opened at $50.39 on Monday. Cheesecake Factory has a 12-month low of $31.24 and a 12-month high of $52.10. The business’s fifty day simple moving average is $46.34 and its 200-day simple moving average is $41.32. The company has a market capitalization of $2.57 billion, a PE ratio of 19.16, a P/E/G ratio of 1.37 and a beta of 1.48. The company has a current ratio of 0.44, a quick ratio of 0.33 and a debt-to-equity ratio of 1.19.

Cheesecake Factory (NASDAQ:CAKE) last announced its quarterly earnings results on Tuesday, October 29th. The restaurant operator reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.11. Cheesecake Factory had a return on equity of 43.90% and a net margin of 3.63%. The business had revenue of $865.50 million for the quarter, compared to the consensus estimate of $866.13 million. During the same period last year, the business posted $0.39 EPS. The business’s revenue was up 4.3% compared to the same quarter last year. As a group, equities research analysts predict that Cheesecake Factory will post 3.31 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Keith Carango sold 13,095 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $49.88, for a total value of $653,178.60. Following the completion of the transaction, the insider now directly owns 14,977 shares in the company, valued at approximately $747,052.76. This represents a 46.65 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 8.10% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Quest Partners LLC acquired a new position in Cheesecake Factory during the third quarter worth $973,000. Principal Financial Group Inc. lifted its stake in Cheesecake Factory by 9.6% during the third quarter. Principal Financial Group Inc. now owns 255,595 shares of the restaurant operator’s stock worth $10,364,000 after purchasing an additional 22,416 shares in the last quarter. Victory Capital Management Inc. lifted its stake in Cheesecake Factory by 32.7% during the third quarter. Victory Capital Management Inc. now owns 403,271 shares of the restaurant operator’s stock worth $16,353,000 after purchasing an additional 99,341 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Cheesecake Factory by 3.6% during the second quarter. Dimensional Fund Advisors LP now owns 1,241,272 shares of the restaurant operator’s stock worth $48,772,000 after purchasing an additional 43,128 shares in the last quarter. Finally, Earnest Partners LLC raised its stake in shares of Cheesecake Factory by 2.8% in the second quarter. Earnest Partners LLC now owns 2,831,381 shares of the restaurant operator’s stock valued at $111,245,000 after acquiring an additional 76,578 shares in the last quarter. 94.48% of the stock is currently owned by institutional investors and hedge funds.

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.