Cheesecake Factory (NASDAQ:CAKE) PT Raised to $38.00

Cheesecake Factory (NASDAQ:CAKE) had its target price raised by Barclays from $35.00 to $38.00 in a research report report published on Tuesday morning, Benzinga reports. Barclays currently has an underweight rating on the restaurant operator’s stock.

Other equities research analysts also recently issued research reports about the company. JPMorgan Chase & Co. cut their price objective on Cheesecake Factory from $40.00 to $38.00 and set an “underweight” rating on the stock in a report on Tuesday, August 6th. Stephens reissued an “overweight” rating and set a $50.00 price objective on shares of Cheesecake Factory in a report on Tuesday. Robert W. Baird raised their price objective on Cheesecake Factory from $37.00 to $40.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Citigroup raised their price objective on Cheesecake Factory from $46.00 to $51.00 and gave the company a “buy” rating in a report on Friday, October 4th. Finally, 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 report on Thursday, August 1st. Three analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $41.67.

Cheesecake Factory Trading Up 1.3 %

Shares of CAKE stock opened at $42.04 on Tuesday. The stock’s fifty day moving average price is $39.66 and its two-hundred day moving average price is $38.12. The company has a market cap of $2.14 billion, a PE ratio of 19.28, a P/E/G ratio of 1.13 and a beta of 1.49. Cheesecake Factory has a fifty-two week low of $29.27 and a fifty-two week high of $43.51. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.32 and a current ratio of 0.43.

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

Cheesecake Factory Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 27th. Stockholders of record on Wednesday, August 14th were given a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 2.57%. The ex-dividend date was Wednesday, August 14th. Cheesecake Factory’s dividend payout ratio (DPR) is presently 49.54%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC increased its position in Cheesecake Factory by 2,360.7% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 689 shares of the restaurant operator’s stock valued at $25,000 after buying an additional 661 shares in the last quarter. GAMMA Investing LLC increased its position in Cheesecake Factory by 276.4% in the 2nd quarter. GAMMA Investing LLC now owns 1,449 shares of the restaurant operator’s stock valued at $57,000 after buying an additional 1,064 shares in the last quarter. nVerses Capital LLC bought a new stake in Cheesecake Factory in the 2nd quarter valued at about $67,000. SG Americas Securities LLC bought a new stake in Cheesecake Factory in the 1st quarter valued at about $121,000. Finally, Wealth Alliance bought a new stake in Cheesecake Factory in the 2nd quarter valued at about $213,000. 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.