Stephens Boosts Cheesecake Factory (NASDAQ:CAKE) Price Target to $57.00

Cheesecake Factory (NASDAQ:CAKE) had its target price boosted by Stephens from $51.00 to $57.00 in a research report sent to investors on Thursday morning,Benzinga reports. The brokerage currently has an overweight rating on the restaurant operator’s stock.

Several other brokerages also recently commented on CAKE. StockNews.com downgraded shares of Cheesecake Factory from a “buy” rating to a “hold” rating in a research report on Thursday, November 28th. Citigroup increased their price objective on shares of Cheesecake Factory from $46.00 to $51.00 and gave the company a “buy” rating in a research report on Friday, October 4th. Wells Fargo & Company increased their price objective on shares of Cheesecake Factory from $38.00 to $45.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Robert W. Baird increased their price objective on shares of Cheesecake Factory from $40.00 to $47.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Finally, Bank of America increased their price objective on shares of Cheesecake Factory from $47.00 to $49.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Cheesecake Factory presently has an average rating of “Hold” and a consensus price target of $46.08.

Cheesecake Factory Stock Down 0.2 %

NASDAQ:CAKE opened at $49.87 on Thursday. The firm’s 50-day moving average price is $45.92 and its 200-day moving average price is $41.12. The company has a market capitalization of $2.55 billion, a PE ratio of 18.96, a P/E/G ratio of 1.37 and a beta of 1.48. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.44 and a quick ratio of 0.33. Cheesecake Factory has a 1-year low of $31.24 and a 1-year high of $52.10.

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

Cheesecake Factory Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 26th. Shareholders of record on Wednesday, November 13th were paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 2.17%. The ex-dividend date of this dividend was Wednesday, November 13th. Cheesecake Factory’s dividend payout ratio is currently 41.06%.

Insider Transactions at Cheesecake Factory

In other news, insider Keith Carango sold 13,095 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $49.88, for a total value of $653,178.60. Following the transaction, the insider now owns 14,977 shares in the company, valued at $747,052.76. This represents a 46.65 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 8.10% of the company’s stock.

Hedge Funds Weigh In On Cheesecake Factory

Institutional investors have recently made changes to their positions in the business. nVerses Capital LLC bought a new position in shares of Cheesecake Factory in the 2nd quarter worth approximately $67,000. Wealth Alliance bought a new position in shares of Cheesecake Factory in the 2nd quarter worth approximately $213,000. Glenmede Trust Co. NA bought a new position in shares of Cheesecake Factory in the 3rd quarter worth approximately $223,000. Foundations Investment Advisors LLC purchased a new stake in Cheesecake Factory in the 3rd quarter worth approximately $227,000. Finally, Commonwealth Equity Services LLC increased its holdings in Cheesecake Factory by 13.4% in the 2nd quarter. Commonwealth Equity Services LLC now owns 6,771 shares of the restaurant operator’s stock worth $266,000 after acquiring an additional 802 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.