Wells Fargo & Company Boosts Cheesecake Factory (NASDAQ:CAKE) Price Target to $36.00

Cheesecake Factory (NASDAQ:CAKE) had its target price increased by equities researchers at Wells Fargo & Company from $35.00 to $36.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm presently has an “equal weight” rating on the restaurant operator’s stock. Wells Fargo & Company‘s price objective would suggest a potential downside of 2.01% from the stock’s current price.

A number of other research analysts have also recently weighed in on CAKE. Piper Sandler lifted their price objective on Cheesecake Factory from $33.00 to $37.00 and gave the company a “neutral” rating in a research report on Thursday, February 22nd. Wedbush upped their price target on shares of Cheesecake Factory from $40.00 to $45.00 and gave the stock an “outperform” rating in a research report on Thursday. Barclays raised their price objective on shares of Cheesecake Factory from $32.00 to $33.00 and gave the company an “underweight” rating in a research report on Thursday, February 22nd. Stephens reiterated an “overweight” rating and issued a $44.00 price target on shares of Cheesecake Factory in a research note on Thursday. Finally, JPMorgan Chase & Co. downgraded Cheesecake Factory from a “neutral” rating to an “underweight” rating and set a $33.00 price objective on the stock. in a research report on Tuesday, January 23rd. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $36.50.

Cheesecake Factory Stock Performance

Cheesecake Factory stock traded up $2.77 during mid-day trading on Thursday, reaching $36.74. 1,749,929 shares of the stock traded hands, compared to its average volume of 842,060. The stock has a market capitalization of $1.88 billion, a PE ratio of 17.78, a price-to-earnings-growth 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. The business’s 50-day moving average is $35.14 and its 200-day moving average is $33.97. Cheesecake Factory has a 12-month low of $28.58 and a 12-month high of $38.19.

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

Institutional Trading of Cheesecake Factory

Institutional investors have recently bought and sold shares of the stock. New York State Teachers Retirement System grew its stake in Cheesecake Factory by 3.6% in the 3rd quarter. New York State Teachers Retirement System now owns 74,035 shares of the restaurant operator’s stock worth $2,243,000 after acquiring an additional 2,577 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Cheesecake Factory by 40.7% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,148 shares of the restaurant operator’s stock valued at $307,000 after purchasing an additional 2,935 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Cheesecake Factory by 2.3% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,642 shares of the restaurant operator’s stock worth $656,000 after buying an additional 487 shares in the last quarter. Inspire Investing LLC grew its position in shares of Cheesecake Factory by 10.2% during the 3rd quarter. Inspire Investing LLC now owns 11,366 shares of the restaurant operator’s stock worth $344,000 after buying an additional 1,049 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of Cheesecake Factory by 4.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 48,533 shares of the restaurant operator’s stock valued at $1,471,000 after buying an additional 2,170 shares during the period. 94.48% of the stock is currently owned by institutional investors.

Cheesecake Factory Company Profile

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.