The Cheesecake Factory Incorporated (NASDAQ:CAKE) to Issue Quarterly Dividend of $0.29 on August 29th
The Cheesecake Factory Incorporated (NASDAQ:CAKE) declared a quarterly dividend on Wednesday, August 2nd, RTT News reports. Shareholders of record on Wednesday, August 16th will be given a dividend of 0.29 per share by the restaurant operator on Tuesday, August 29th. This represents a $1.16 dividend on an annualized basis and a yield of 2.58%. The ex-dividend date is Monday, August 14th. This is a positive change from The Cheesecake Factory’s previous quarterly dividend of $0.24.
The Cheesecake Factory (CAKE) opened at 44.93 on Wednesday. The firm has a market capitalization of $2.07 billion, a PE ratio of 15.72 and a beta of 0.31. The Cheesecake Factory has a 52-week low of $44.02 and a 52-week high of $67.14. The firm’s 50-day moving average is $49.50 and its 200-day moving average is $58.08.
The Cheesecake Factory (NASDAQ:CAKE) last released its quarterly earnings results on Wednesday, August 2nd. The restaurant operator reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.02. The business had revenue of $569.87 million during the quarter, compared to the consensus estimate of $573.12 million. The Cheesecake Factory had a return on equity of 22.92% and a net margin of 6.10%. The business’s revenue was up 2.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.78 EPS. On average, analysts anticipate that The Cheesecake Factory will post $2.67 earnings per share for the current year.
CAKE has been the subject of several research reports. BidaskClub downgraded The Cheesecake Factory from a “sell” rating to a “strong sell” rating in a research note on Thursday, July 27th. Robert W. Baird reaffirmed a “neutral” rating and set a $57.00 price target (down previously from $60.00) on shares of The Cheesecake Factory in a research note on Wednesday, June 14th. Jefferies Group LLC raised The Cheesecake Factory from an “underperform” rating to a “hold” rating and set a $52.00 price target for the company in a research note on Tuesday, June 13th. They noted that the move was a valuation call. Bank of America Corporation reaffirmed a “neutral” rating and set a $62.00 price target (down previously from $67.00) on shares of The Cheesecake Factory in a research note on Wednesday, June 14th. Finally, Nomura cut their price target on The Cheesecake Factory from $50.00 to $44.00 and set a “neutral” rating for the company in a research note on Thursday, August 3rd. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $55.18.
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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 value of $379,594.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 8.50% of the stock is owned by insiders.
The Cheesecake Factory Company Profile
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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