The Cheesecake Factory Incorporated (NASDAQ:CAKE) Cut to Strong Sell at BidaskClub
The Cheesecake Factory Incorporated (NASDAQ:CAKE) was downgraded by investment analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued on Thursday.
CAKE has been the topic of several other reports. Zacks Investment Research raised shares of The Cheesecake Factory from a “sell” rating to a “hold” rating in a research note on Tuesday, April 4th. Argus cut shares of The Cheesecake Factory from a “buy” rating to a “hold” rating in a research note on Tuesday, June 20th. Barclays PLC decreased their price objective on shares of The Cheesecake Factory from $56.00 to $53.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 19th. Nomura initiated coverage on shares of The Cheesecake Factory in a research note on Wednesday, July 12th. They set a “neutral” rating and a $50.00 price objective on the stock. Finally, Maxim Group reaffirmed a “hold” rating and set a $65.00 price objective (up from $59.00) on shares of The Cheesecake Factory in a research note on Monday, May 1st. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have assigned a buy rating to the company’s stock. The Cheesecake Factory has an average rating of “Hold” and a consensus price target of $58.06.
Shares of The Cheesecake Factory (NASDAQ:CAKE) traded down 0.43% during trading on Thursday, reaching $48.75. The company’s stock had a trading volume of 1,591,806 shares. The Cheesecake Factory has a 1-year low of $48.25 and a 1-year high of $67.14. The company’s 50-day moving average price is $51.27 and its 200 day moving average price is $58.72. The stock has a market capitalization of $2.25 billion, a price-to-earnings ratio of 17.05 and a beta of 0.33.
The Cheesecake Factory (NASDAQ:CAKE) last issued 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 firm had revenue of $563.43 million for the quarter, compared to the consensus estimate of $565.42 million. The Cheesecake Factory had a return on equity of 23.35% and a net margin of 6.15%. Analysts anticipate that The Cheesecake Factory will post $2.84 EPS for the current year.
In other The Cheesecake Factory news, VP Debby R. Zurzolo sold 6,424 shares of the stock in a transaction on Thursday, June 1st. The shares were sold at an average price of $59.09, for a total value of $379,594.16. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 8.50% of the company’s stock.
Large investors have recently bought and sold shares of the company. Janney Montgomery Scott LLC purchased a new stake in The Cheesecake Factory during the second quarter valued at $907,000. NGAM Advisors L.P. increased its stake in shares of The Cheesecake Factory by 3.6% in the second quarter. NGAM Advisors L.P. now owns 105,211 shares of the restaurant operator’s stock valued at $5,292,000 after buying an additional 3,648 shares in the last quarter. Campbell & CO Investment Adviser LLC bought a new stake in shares of The Cheesecake Factory during the second quarter valued at about $746,000. ING Groep NV bought a new stake in shares of The Cheesecake Factory during the second quarter valued at about $273,000. Finally, Russell Investments Group Ltd. increased its stake in shares of The Cheesecake Factory by 0.6% in the second quarter. Russell Investments Group Ltd. now owns 72,247 shares of the restaurant operator’s stock valued at $3,634,000 after buying an additional 410 shares in the last quarter. Institutional investors own 97.02% 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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