Wedbush Equities Analysts Boost Earnings Estimates for CAKE

The Cheesecake Factory Incorporated (NASDAQ:CAKE) – Equities research analysts at Wedbush increased their FY2024 earnings per share estimates for shares of Cheesecake Factory in a report issued on Friday, February 14th. Wedbush analyst N. Setyan now expects that the restaurant operator will earn $3.33 per share for the year, up from their previous estimate of $3.30. Wedbush currently has a “Outperform” rating and a $59.00 target price on the stock. The consensus estimate for Cheesecake Factory’s current full-year earnings is $3.31 per share. Wedbush also issued estimates for Cheesecake Factory’s Q4 2024 earnings at $0.93 EPS.

Several other research analysts also recently weighed in on the company. UBS Group increased their price target on Cheesecake Factory from $36.00 to $41.00 and gave the stock a “sell” rating in a research note on Tuesday, January 7th. Oppenheimer upgraded Cheesecake Factory from a “market perform” rating to an “outperform” rating and set a $65.00 price target for the company in a research note on Tuesday, January 7th. StockNews.com downgraded Cheesecake Factory from a “buy” rating to a “hold” rating in a research note on Thursday, November 28th. Raymond James raised their target price on Cheesecake Factory from $51.00 to $56.00 and gave the stock an “outperform” rating in a research note on Monday, December 16th. Finally, Stephens raised their target price on Cheesecake Factory from $51.00 to $57.00 and gave the stock an “overweight” rating in a research note on Thursday, December 12th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $49.93.

Cheesecake Factory Stock Up 1.6 %

CAKE stock opened at $53.34 on Monday. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.33 and a current ratio of 0.44. The company has a market capitalization of $2.72 billion, a price-to-earnings ratio of 20.28, a PEG ratio of 1.33 and a beta of 1.51. Cheesecake Factory has a fifty-two week low of $33.05 and a fifty-two week high of $57.32. The stock has a fifty day moving average of $50.78 and a 200-day moving average of $45.04.

Hedge Funds Weigh In On Cheesecake Factory

A number of large investors have recently bought and sold shares of CAKE. Foundations Investment Advisors LLC purchased a new position in Cheesecake Factory in the 3rd quarter worth approximately $227,000. New York State Teachers Retirement System grew its position in shares of Cheesecake Factory by 5.5% in the 3rd quarter. New York State Teachers Retirement System now owns 77,660 shares of the restaurant operator’s stock worth $3,149,000 after buying an additional 4,053 shares during the last quarter. Oak Harvest Investment Services bought a new stake in shares of Cheesecake Factory in the 3rd quarter worth approximately $345,000. Harbor Capital Advisors Inc. grew its position in shares of Cheesecake Factory by 2.4% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 23,110 shares of the restaurant operator’s stock worth $937,000 after buying an additional 532 shares during the last quarter. Finally, Principal Financial Group Inc. grew its position in shares of Cheesecake Factory by 9.6% in the 3rd quarter. Principal Financial Group Inc. now owns 255,595 shares of the restaurant operator’s stock worth $10,364,000 after buying an additional 22,416 shares during the last quarter. 94.48% of the stock is owned by hedge funds and other 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.