The Cheesecake Factory Incorporated (CAKE) Receives Equal Weight Rating from Barclays PLC
The Cheesecake Factory Incorporated (NASDAQ:CAKE)‘s stock had its “equal weight” rating reiterated by equities researchers at Barclays PLC in a report released on Thursday, Marketbeat.com reports. They presently have a $48.00 price objective on the restaurant operator’s stock, down from their previous price objective of $53.00. Barclays PLC’s target price suggests a potential upside of 6.36% from the stock’s current price.
Several other research analysts have also weighed in on the stock. Telsey Advisory Group cut their price objective on shares of The Cheesecake Factory from $66.00 to $62.00 and set an “outperform” rating on the stock in a report on Wednesday, June 14th. Zacks Investment Research lowered shares of The Cheesecake Factory from a “hold” rating to a “sell” rating in a report on Monday, May 8th. Maxim Group reiterated a “hold” rating and set a $65.00 price objective (up from $59.00) on shares of The Cheesecake Factory in a report on Monday, May 1st. Goldman Sachs Group, Inc. (The) cut their price objective on shares of The Cheesecake Factory from $56.00 to $48.00 and set a “sell” rating on the stock in a report on Wednesday, June 21st. Finally, Jefferies Group LLC upgraded shares of The Cheesecake Factory from an “underperform” rating to a “hold” rating and set a $52.00 price objective on the stock in a report on Tuesday, June 13th. They noted that the move was a valuation call. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $55.18.
Shares of The Cheesecake Factory (NASDAQ CAKE) traded up 2.13% during midday trading on Thursday, hitting $45.13. 1,889,752 shares of the company’s stock were exchanged. The stock’s 50-day moving average price is $50.13 and its 200 day moving average price is $58.36. The Cheesecake Factory has a one year low of $44.02 and a one year high of $67.14. The firm has a market cap of $2.08 billion, a PE ratio of 15.79 and a beta of 0.31.
The Cheesecake Factory (NASDAQ:CAKE) last announced its quarterly earnings data on Wednesday, August 2nd. The restaurant operator reported $0.78 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.76 by $0.02. The business had revenue of $569.87 million for the quarter, compared to analyst estimates of $573.12 million. The Cheesecake Factory had a net margin of 6.10% and a return on equity of 22.92%. The company’s revenue was up 2.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.78 EPS. Equities research analysts forecast that The Cheesecake Factory will post $2.67 EPS for the current year.
In related news, VP Debby R. Zurzolo sold 6,424 shares of the stock in a transaction that occurred on Thursday, June 1st. The shares were 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. 8.50% of the stock is currently owned by corporate insiders.
Hedge funds have recently bought and sold shares of the company. FMR LLC acquired a new stake in The Cheesecake Factory during the fourth quarter worth about $5,988,000. Norges Bank acquired a new stake in The Cheesecake Factory during the fourth quarter worth about $23,189,000. Quadrature Capital Ltd acquired a new stake in The Cheesecake Factory during the fourth quarter worth about $280,000. UBS Asset Management Americas Inc. increased its stake in The Cheesecake Factory by 174.9% in the fourth quarter. UBS Asset Management Americas Inc. now owns 81,051 shares of the restaurant operator’s stock worth $4,854,000 after buying an additional 51,562 shares during the period. Finally, Bank of Montreal Can increased its stake in The Cheesecake Factory by 14.7% in the first quarter. Bank of Montreal Can now owns 5,128 shares of the restaurant operator’s stock worth $325,000 after buying an additional 659 shares during the period. 96.93% of the stock is owned by hedge funds and other institutional investors.
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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