The Cheesecake Factory Incorporated (NASDAQ:CAKE) Given Average Rating of “Hold” by Analysts
The Cheesecake Factory Incorporated (NASDAQ:CAKE) has received an average recommendation of “Hold” from the twenty research firms that are currently covering the stock, MarketBeat.com reports. Three equities research analysts have rated the stock with a sell recommendation, twelve have given a hold recommendation and five have issued a buy recommendation on the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $53.00.
A number of research analysts have issued reports on CAKE shares. Telsey Advisory Group reduced their price objective 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. Zacks Investment Research downgraded The Cheesecake Factory from a “hold” rating to a “sell” rating in a research note on Monday, May 8th. Maxim Group restated a “hold” rating and issued a $65.00 price objective (up previously from $59.00) on shares of The Cheesecake Factory in a research note on Monday, May 1st. Goldman Sachs Group, Inc. (The) reduced their price objective on The Cheesecake Factory from $56.00 to $48.00 and set a “sell” rating for the company in a research note on Wednesday, June 21st. Finally, Jefferies Group LLC upgraded The Cheesecake Factory from an “underperform” rating to a “hold” rating and set a $52.00 price objective for the company in a research note on Tuesday, June 13th. They noted that the move was a valuation call.
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In related news, VP Debby R. Zurzolo sold 6,000 shares of the stock in a transaction dated Thursday, May 25th. The stock was sold at an average price of $59.15, for a total transaction of $354,900.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 8.50% of the company’s stock.
A number of hedge funds have recently modified their holdings of CAKE. BlackRock Inc. boosted its stake in shares of 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. Renaissance Technologies LLC bought a new stake in shares of The Cheesecake Factory during the second quarter worth about $25,369,000. FMR LLC boosted its stake in shares of The Cheesecake Factory by 445.8% in the first quarter. FMR LLC now owns 545,840 shares of the restaurant operator’s stock worth $34,584,000 after buying an additional 445,840 shares during the period. AQR Capital Management LLC boosted its stake in shares of The Cheesecake Factory by 52.2% in the first quarter. AQR Capital Management LLC now owns 1,125,972 shares of the restaurant operator’s stock worth $71,342,000 after buying an additional 386,165 shares during the period. Finally, Marshall Wace North America L.P. boosted its stake in shares of The Cheesecake Factory by 1,407.1% in the second quarter. Marshall Wace North America L.P. now owns 393,218 shares of the restaurant operator’s stock worth $19,661,000 after buying an additional 367,127 shares during the period. 96.40% of the stock is currently owned by institutional investors and hedge funds.
Shares of The Cheesecake Factory (NASDAQ:CAKE) traded down 0.31% during midday trading on Friday, reaching $44.80. The company’s stock had a trading volume of 1,090,284 shares. The firm has a 50-day moving average of $48.62 and a 200-day moving average of $57.57. The Cheesecake Factory has a one year low of $44.02 and a one year high of $67.14. The stock has a market cap of $2.06 billion, a PE ratio of 15.67 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 (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.02. The firm 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 for the quarter was up 2.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.78 EPS. On average, analysts forecast that The Cheesecake Factory will post $2.67 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 29th. Investors of record on Wednesday, August 16th will be issued a dividend of $0.29 per share. This is a boost from The Cheesecake Factory’s previous quarterly dividend of $0.24. The ex-dividend date is Monday, August 14th. This represents a $1.16 dividend on an annualized basis and a yield of 2.59%. The Cheesecake Factory’s dividend payout ratio is 33.68%.
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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