Cheesecake Factory (NASDAQ:CAKE) Price Target Raised to $45.00 at Wedbush

Cheesecake Factory (NASDAQ:CAKE) had its price objective lifted by stock analysts at Wedbush from $40.00 to $45.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm presently has an “outperform” rating on the restaurant operator’s stock. Wedbush’s target price would indicate a potential upside of 32.47% from the company’s previous close. Wedbush also issued estimates for Cheesecake Factory’s Q1 2024 earnings at $0.64 EPS and Q3 2024 earnings at $0.49 EPS.

Other analysts have also issued reports about the stock. Barclays increased their target price on shares of Cheesecake Factory from $32.00 to $33.00 and gave the company an “underweight” rating in a research note on Thursday, February 22nd. Stephens reaffirmed an “overweight” rating and set a $44.00 target price on shares of Cheesecake Factory in a research report on Thursday. Raymond James raised Cheesecake Factory from a “market perform” rating to an “outperform” rating and set a $42.00 price target on the stock in a research note on Thursday. Robert W. Baird raised their target price on shares of Cheesecake Factory from $32.00 to $37.00 and gave the stock a “neutral” rating in a report on Thursday. Finally, Piper Sandler upped their price target on shares of Cheesecake Factory from $33.00 to $37.00 and gave the company a “neutral” rating in a research report on Thursday, February 22nd. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Cheesecake Factory has a consensus rating of “Hold” and a consensus price target of $35.83.

Cheesecake Factory Price Performance

NASDAQ CAKE opened at $33.97 on Thursday. The firm has a market capitalization of $1.73 billion, a PE ratio of 16.49, a P/E/G ratio of 1.12 and a beta of 1.48. The company has a debt-to-equity ratio of 1.48, a current ratio of 0.46 and a quick ratio of 0.37. Cheesecake Factory has a 12 month low of $28.58 and a 12 month high of $38.19. The company’s 50 day simple moving average is $35.14 and its 200 day simple moving average is $33.97.

Cheesecake Factory (NASDAQ:CAKE) last posted its quarterly earnings data on Wednesday, May 8th. The restaurant operator reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.10. Cheesecake Factory had a return on equity of 41.66% and a net margin of 2.95%. The company had revenue of $891.22 million for the quarter, compared to the consensus estimate of $890.49 million. During the same quarter in the previous year, the business earned $0.61 EPS. The company’s quarterly revenue was up 2.9% compared to the same quarter last year. As a group, equities research analysts forecast that Cheesecake Factory will post 3.06 EPS for the current fiscal year.

Institutional Investors Weigh In On Cheesecake Factory

Institutional investors and hedge funds have recently modified their holdings of the business. Norges Bank bought a new position in Cheesecake Factory during the fourth quarter valued at about $11,729,000. Sapient Capital LLC acquired a new position in Cheesecake Factory during the fourth quarter valued at approximately $6,838,000. Envestnet Asset Management Inc. lifted its stake in shares of Cheesecake Factory by 46.9% in the third quarter. Envestnet Asset Management Inc. now owns 411,017 shares of the restaurant operator’s stock worth $12,454,000 after buying an additional 131,295 shares during the last quarter. IPG Investment Advisors LLC boosted its holdings in shares of Cheesecake Factory by 104.7% during the 4th quarter. IPG Investment Advisors LLC now owns 151,695 shares of the restaurant operator’s stock worth $5,311,000 after buying an additional 77,575 shares during the period. Finally, Campbell & CO Investment Adviser LLC acquired a new position in Cheesecake Factory in the 4th quarter valued at $2,532,000. Institutional investors and hedge funds own 94.48% of the company’s stock.

About Cheesecake Factory

The Cheesecake Factory Incorporated operates and licenses restaurants in the United States and Canada. The company operates bakeries that produce cheesecakes and other baked products for its restaurants, international licensees, third-party bakery customers, external foodservice operators, retailers, and distributors.