Piper Jaffray Companies Increases Cheesecake Factory (CAKE) Price Target to $52.00
Cheesecake Factory (NASDAQ:CAKE) had its target price hoisted by Piper Jaffray Companies from $45.00 to $52.00 in a research note issued to investors on Monday morning, MarketBeat.com reports. They currently have an overweight rating on the restaurant operator’s stock.
Several other analysts also recently issued reports on the company. Maxim Group dropped their price target on Cheesecake Factory from $57.00 to $54.00 and set a buy rating on the stock in a research note on Thursday, November 2nd. BTIG Research reissued a buy rating and issued a $50.00 price target on shares of Cheesecake Factory in a research note on Wednesday, September 20th. Barclays dropped their price target on Cheesecake Factory from $48.00 to $46.00 and set an equal weight rating on the stock in a research note on Wednesday, October 18th. Stephens lowered their target price on Cheesecake Factory from $48.00 to $45.00 and set an equal weight rating on the stock in a research report on Wednesday, October 11th. Finally, Morgan Stanley lowered their target price on Cheesecake Factory from $48.00 to $44.00 and set an equal weight rating on the stock in a research report on Thursday, November 2nd. Two equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have given a buy rating to the company’s stock. Cheesecake Factory has an average rating of Hold and a consensus price target of $48.56.
Cheesecake Factory (NASDAQ:CAKE) traded down $0.18 during mid-day trading on Monday, reaching $47.24. The company’s stock had a trading volume of 1,189,800 shares, compared to its average volume of 1,088,214. The company has a current ratio of 0.51, a quick ratio of 0.37 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $2,160.00, a price-to-earnings ratio of 17.43, a PEG ratio of 1.31 and a beta of 0.33. Cheesecake Factory has a 52-week low of $38.34 and a 52-week high of $67.14.
Cheesecake Factory (NASDAQ:CAKE) last posted its earnings results on Wednesday, November 1st. The restaurant operator reported $0.56 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.60 by ($0.04). The business had revenue of $555.40 million for the quarter, compared to the consensus estimate of $566.09 million. Cheesecake Factory had a return on equity of 21.65% and a net margin of 5.76%. The business’s revenue was down .8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.70 earnings per share. sell-side analysts expect that Cheesecake Factory will post 2.6 earnings per share for the current year.
In related news, VP Debby R. Zurzolo sold 2,306 shares of the business’s stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $44.75, for a total value of $103,193.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Herbert Simon purchased 25,000 shares of the business’s stock in a transaction that occurred on Monday, November 6th. The stock was bought at an average price of $43.50 per share, with a total value of $1,087,500.00. The disclosure for this purchase can be found here. Company insiders own 8.40% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. Koch Industries Inc. bought a new stake in shares of Cheesecake Factory in the second quarter valued at approximately $353,000. Public Employees Retirement System of Ohio boosted its stake in shares of Cheesecake Factory by 8.7% in the third quarter. Public Employees Retirement System of Ohio now owns 74,481 shares of the restaurant operator’s stock valued at $3,137,000 after buying an additional 5,938 shares during the period. Sciencast Management LP acquired a new position in Cheesecake Factory during the second quarter valued at approximately $357,000. Bridgewater Associates LP acquired a new position in Cheesecake Factory during the second quarter valued at approximately $606,000. Finally, Macquarie Group Ltd. raised its position in Cheesecake Factory by 18.4% during the second quarter. Macquarie Group Ltd. now owns 1,351,873 shares of the restaurant operator’s stock valued at $67,999,000 after purchasing an additional 209,711 shares in the last quarter. Institutional investors and hedge funds own 97.47% of the company’s stock.
About 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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