The Cheesecake Factory Incorporated (CAKE) to Issue Quarterly Dividend of $0.30 on May 26th

The Cheesecake Factory Incorporated (NASDAQ:CAKE) announced a quarterly dividend on Thursday, April 23rd. Shareholders of record on Wednesday, May 13th will be given a dividend of 0.30 per share by the restaurant operator on Tuesday, May 26th. This represents a c) annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Wednesday, May 13th.

Cheesecake Factory has raised its dividend payment by an average of 0.2%per year over the last three years. Cheesecake Factory has a payout ratio of 29.4% meaning its dividend is sufficiently covered by earnings. Analysts expect Cheesecake Factory to earn $4.39 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 27.3%.

Cheesecake Factory Stock Performance

NASDAQ:CAKE opened at $61.65 on Monday. The business’s 50-day moving average price is $59.81 and its two-hundred day moving average price is $55.72. Cheesecake Factory has a twelve month low of $43.07 and a twelve month high of $69.70. The stock has a market cap of $3.06 billion, a P/E ratio of 18.03, a PEG ratio of 1.47 and a beta of 1.04. The company has a quick ratio of 0.53, a current ratio of 0.59 and a debt-to-equity ratio of 1.22.

Cheesecake Factory (NASDAQ:CAKE) last released its quarterly earnings results on Wednesday, April 29th. The restaurant operator reported $1.05 earnings per share for the quarter, beating the consensus estimate of $1.03 by $0.02. Cheesecake Factory had a return on equity of 43.74% and a net margin of 4.34%.The firm had revenue of $978.83 million for the quarter, compared to analysts’ expectations of $964.57 million. During the same quarter last year, the firm posted $0.93 EPS. The company’s revenue was up 5.6% compared to the same quarter last year. As a group, equities analysts predict that Cheesecake Factory will post 4.03 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have weighed in on CAKE shares. Argus set a $72.00 price target on Cheesecake Factory in a report on Friday, May 1st. Citigroup raised their price target on Cheesecake Factory from $75.00 to $76.00 and gave the company a “buy” rating in a report on Thursday, April 30th. Oppenheimer raised their price target on Cheesecake Factory from $68.00 to $72.00 and gave the company an “outperform” rating in a report on Tuesday, April 21st. Barclays raised their price target on Cheesecake Factory from $58.00 to $60.00 and gave the company an “underweight” rating in a report on Thursday, April 30th. Finally, Stephens raised their price target on Cheesecake Factory from $61.00 to $65.00 and gave the company an “equal weight” rating in a report on Thursday, April 30th. Six analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $64.00.

Cheesecake Factory Company Profile

The Cheesecake Factory Incorporated (NASDAQ:CAKE) is an American restaurant company and distributor renowned for its full-service casual-dining concept and specialty cheesecakes. Headquartered in Calabasas Hills, California, the company operates more than 200 restaurants under The Cheesecake Factory® brand across the United States, Puerto Rico and select international markets. In addition to sit-down dining, Cheesecake Factory franchised locations offer catering and take-out services, while a separate manufacturing arm supplies branded cheesecakes and desserts to supermarkets, hotels and other foodservice operators.

The origins of the brand trace back to a small cheesecake bakery founded in Detroit in the 1940s.