Robert W. Baird restated their neutral rating on shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE) in a research report sent to investors on Wednesday. They currently have a $57.00 price target on the restaurant operator’s stock, down from their previous price target of $60.00.

Several other analysts also recently commented on CAKE. Bank of America Corporation restated a neutral rating and issued a $62.00 target price (down from $67.00) on shares of The Cheesecake Factory in a research note on Wednesday, June 14th. Telsey Advisory Group reduced their target price on The Cheesecake Factory from $66.00 to $62.00 and set an outperform rating for the company in a research note on Wednesday, June 14th. Morgan Stanley restated an equal weight rating and issued a $56.00 target price (down from $62.00) on shares of The Cheesecake Factory in a research note on Wednesday, June 14th. Wells Fargo & Company restated a market perform rating and issued a $55.00 target price (down from $61.50) on shares of The Cheesecake Factory in a research note on Wednesday, June 14th. Finally, BidaskClub upgraded The Cheesecake Factory from a sell rating to a hold rating in a research note on Tuesday, June 13th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the company. The stock has an average rating of Hold and a consensus target price of $58.54.

Analyst Recommendations for The Cheesecake Factory (NASDAQ:CAKE)

Shares of The Cheesecake Factory (NASDAQ:CAKE) opened at 52.74 on Wednesday. The stock’s 50 day moving average price is $59.00 and its 200-day moving average price is $60.89. The company has a market cap of $2.43 billion, a P/E ratio of 18.44 and a beta of 0.29. The Cheesecake Factory has a 52-week low of $46.93 and a 52-week high of $67.14.

The Cheesecake Factory (NASDAQ:CAKE) last posted its quarterly earnings data on Wednesday, May 3rd. The restaurant operator reported $0.72 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.73 by $0.01. The Cheesecake Factory had a return on equity of 23.35% and a net margin of 6.15%. The business had revenue of $563.43 million during the quarter, compared to the consensus estimate of $565.42 million. Equities analysts expect that The Cheesecake Factory will post $2.87 EPS for the current year.

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The business also recently declared a quarterly dividend, which was paid on Tuesday, May 30th. Shareholders of record on Wednesday, May 17th were paid a dividend of $0.24 per share. The ex-dividend date was Monday, May 15th. This represents a $0.96 dividend on an annualized basis and a yield of 1.82%. The Cheesecake Factory’s dividend payout ratio (DPR) is currently 33.68%.

In other The Cheesecake Factory news, VP Debby R. Zurzolo sold 6,424 shares of The Cheesecake Factory stock in a transaction dated Thursday, June 1st. The stock was sold at an average price of $59.09, for a total transaction of $379,594.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Doug Benn sold 16,901 shares of The Cheesecake Factory stock in a transaction dated Monday, April 24th. The shares were sold at an average price of $64.02, for a total value of $1,082,002.02. Following the transaction, the chief financial officer now owns 70,261 shares of the company’s stock, valued at approximately $4,498,109.22. The disclosure for this sale can be found here. Insiders have sold a total of 44,351 shares of company stock valued at $2,759,859 in the last quarter. Company insiders own 8.50% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its position in The Cheesecake Factory by 21,381.3% in the first quarter. BlackRock Inc. now owns 4,842,308 shares of the restaurant operator’s stock worth $306,812,000 after buying an additional 4,819,766 shares during the period. Vanguard Group Inc. increased its position in The Cheesecake Factory by 5.5% in the first quarter. Vanguard Group Inc. now owns 4,025,161 shares of the restaurant operator’s stock worth $255,034,000 after buying an additional 210,618 shares during the period. Neuberger Berman Group LLC increased its position in The Cheesecake Factory by 15.7% in the first quarter. Neuberger Berman Group LLC now owns 2,141,608 shares of the restaurant operator’s stock worth $135,692,000 after buying an additional 291,097 shares during the period. Wellington Management Group LLP increased its position in The Cheesecake Factory by 3.9% in the first quarter. Wellington Management Group LLP now owns 1,846,350 shares of the restaurant operator’s stock worth $116,985,000 after buying an additional 69,832 shares during the period. Finally, Bank of New York Mellon Corp increased its position in The Cheesecake Factory by 2.1% in the first quarter. Bank of New York Mellon Corp now owns 1,693,864 shares of the restaurant operator’s stock worth $107,324,000 after buying an additional 34,923 shares during the period. Institutional investors and hedge funds own 97.01% of the company’s stock.

About The Cheesecake Factory

The Cheesecake Factory Incorporated is engaged in the restaurant and bakery business. As of March 2, 2017, the Company operated 208 Company-owned restaurants: 194 under The Cheesecake Factory mark, 13 under the Grand Lux Cafe mark and one under the Rock Sugar Pan Asian Kitchen mark. The Company’s segments include The Cheesecake Factory restaurants, and other.

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