William Blair Has Positive Outlook for CAKE FY2024 Earnings

The Cheesecake Factory Incorporated (NASDAQ:CAKE) – Stock analysts at William Blair boosted their FY2024 EPS estimates for shares of Cheesecake Factory in a note issued to investors on Tuesday, October 29th. William Blair analyst S. Zackfia now anticipates that the restaurant operator will post earnings per share of $3.31 for the year, up from their prior estimate of $3.19. The consensus estimate for Cheesecake Factory’s current full-year earnings is $3.22 per share. William Blair also issued estimates for Cheesecake Factory’s FY2025 earnings at $3.64 EPS.

Cheesecake Factory (NASDAQ:CAKE) last posted its earnings results on Tuesday, October 29th. The restaurant operator reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.11. Cheesecake Factory had a return on equity of 45.66% and a net margin of 3.63%. The company had revenue of $865.50 million for the quarter, compared to analyst estimates of $866.13 million. During the same period last year, the company earned $0.39 earnings per share. The business’s revenue was up 4.3% compared to the same quarter last year.

Several other equities analysts also recently commented on the company. Wedbush increased their price target on Cheesecake Factory from $48.00 to $52.00 and gave the company an “outperform” rating in a report on Wednesday. Citigroup raised their target price on shares of Cheesecake Factory from $46.00 to $51.00 and gave the company a “buy” rating in a research note on Friday, October 4th. Robert W. Baird lifted their target price on shares of Cheesecake Factory from $40.00 to $47.00 and gave the stock a “neutral” rating in a report on Wednesday. Bank of America upped their price target on shares of Cheesecake Factory from $47.00 to $49.00 and gave the company a “neutral” rating in a report on Wednesday. Finally, Stephens lifted their price objective on Cheesecake Factory from $50.00 to $51.00 and gave the stock an “overweight” rating in a research note on Wednesday. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $44.17.

Cheesecake Factory Stock Performance

Shares of NASDAQ CAKE opened at $45.82 on Friday. The business’s 50-day simple moving average is $40.27 and its 200-day simple moving average is $38.50. Cheesecake Factory has a 52 week low of $29.27 and a 52 week high of $49.75. 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 has a market cap of $2.33 billion, a price-to-earnings ratio of 17.42, a P/E/G ratio of 1.33 and a beta of 1.47.

Cheesecake Factory Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 26th. Shareholders of record on Wednesday, November 13th will be issued a $0.27 dividend. The ex-dividend date is Wednesday, November 13th. This represents a $1.08 annualized dividend and a yield of 2.36%. Cheesecake Factory’s dividend payout ratio (DPR) is 41.06%.

Institutional Trading of Cheesecake Factory

A number of hedge funds have recently modified their holdings of the company. Duality Advisers LP acquired a new position in shares of Cheesecake Factory in the first quarter valued at $1,829,000. Dimensional Fund Advisors LP increased its holdings in Cheesecake Factory by 3.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,241,272 shares of the restaurant operator’s stock valued at $48,772,000 after buying an additional 43,128 shares during the period. Earnest Partners LLC raised its stake in shares of 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. JCP Investment Management LLC bought a new position in shares of Cheesecake Factory during the 2nd quarter worth about $5,149,000. Finally, State Board of Administration of Florida Retirement System boosted its position in shares of Cheesecake Factory by 38.7% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 19,215 shares of the restaurant operator’s stock valued at $673,000 after acquiring an additional 5,360 shares in the last quarter. Institutional investors own 94.48% of the company’s stock.

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.