Cheesecake Factory (NASDAQ:CAKE) Given New $47.00 Price Target at Robert W. Baird

Cheesecake Factory (NASDAQ:CAKE) had its target price boosted by Robert W. Baird from $40.00 to $47.00 in a research note published on Wednesday morning, Benzinga reports. They currently have a neutral rating on the restaurant operator’s stock.

CAKE has been the topic of several other research reports. Wedbush reiterated an “outperform” rating and set a $45.00 price target on shares of Cheesecake Factory in a research report on Tuesday, October 22nd. Stephens reiterated an “overweight” rating and set a $50.00 price target on shares of Cheesecake Factory in a research report on Tuesday, October 22nd. Citigroup boosted their price target 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. Bank of America boosted their price target on shares of Cheesecake Factory from $45.00 to $47.00 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. Finally, Barclays upped their price objective on shares of Cheesecake Factory from $35.00 to $38.00 and gave the stock an “underweight” rating in a report on Tuesday, October 22nd. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $44.17.

Cheesecake Factory Price Performance

CAKE stock opened at $46.64 on Wednesday. Cheesecake Factory has a 12-month low of $29.27 and a 12-month high of $49.75. The company has a current ratio of 0.43, a quick ratio of 0.32 and a debt-to-equity ratio of 1.26. The firm’s 50-day moving average price is $40.01 and its two-hundred day moving average price is $38.36. The stock has a market capitalization of $2.38 billion, a price-to-earnings ratio of 19.51, a PEG ratio of 1.13 and a beta of 1.49.

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 the consensus estimate of $0.47 by $0.11. Cheesecake Factory had a net margin of 3.32% and a return on equity of 43.62%. The company had revenue of $865.50 million for the quarter, compared to analysts’ expectations of $866.13 million. During the same quarter in the previous year, the company earned $0.39 earnings per share. Cheesecake Factory’s quarterly revenue was up 4.3% on a year-over-year basis. As a group, equities analysts predict that Cheesecake Factory will post 3.21 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Earnest Partners LLC lifted 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 worth $111,245,000 after buying an additional 76,578 shares in the last quarter. Dimensional Fund Advisors LP lifted its position 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 valued at $48,772,000 after purchasing an additional 43,128 shares during the period. American Century Companies Inc. lifted its position in Cheesecake Factory by 31.1% during the second quarter. American Century Companies Inc. now owns 942,694 shares of the restaurant operator’s stock valued at $37,038,000 after purchasing an additional 223,497 shares during the period. William Blair Investment Management LLC lifted its position in Cheesecake Factory by 8.0% during the second quarter. William Blair Investment Management LLC now owns 819,328 shares of the restaurant operator’s stock valued at $32,191,000 after purchasing an additional 60,545 shares during the period. Finally, Natixis Advisors LLC lifted its position in Cheesecake Factory by 0.7% during the second quarter. Natixis Advisors LLC now owns 530,497 shares of the restaurant operator’s stock valued at $20,843,000 after purchasing an additional 3,872 shares during the period. 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.