Robert W. Baird restated their neutral rating on shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE) in a report released on Wednesday morning. They currently have a $49.00 price objective on the restaurant operator’s stock, down from their prior price objective of $57.00.
CAKE has been the subject of a number of other research reports. Barclays PLC reissued an equal weight rating and issued a $48.00 price target (down previously from $53.00) on shares of The Cheesecake Factory in a report on Wednesday. Telsey Advisory Group lowered their price target on shares of The Cheesecake Factory from $66.00 to $62.00 and set an outperform rating for the company in a report on Wednesday, June 14th. Stephens reissued an equal weight rating and issued a $48.00 price target (down previously from $55.00) on shares of The Cheesecake Factory in a report on Wednesday. Canaccord Genuity reissued a hold rating and issued a $60.00 price target on shares of The Cheesecake Factory in a report on Friday, June 16th. Finally, Zacks Investment Research raised shares of The Cheesecake Factory from a sell rating to a hold rating in a report on Tuesday, April 25th. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have assigned a buy rating to the stock. The Cheesecake Factory currently has an average rating of Hold and a consensus target price of $54.78.
The Cheesecake Factory (CAKE) traded down 0.31% during midday trading on Wednesday, reaching $44.80. The company’s stock had a trading volume of 1,090,284 shares. The Cheesecake Factory has a 52-week low of $44.02 and a 52-week high of $67.14. The stock has a market capitalization of $2.06 billion, a price-to-earnings ratio of 15.67 and a beta of 0.31. The firm has a 50-day moving average price of $48.62 and a 200 day moving average price of $57.57.
The Cheesecake Factory (NASDAQ:CAKE) last issued its quarterly earnings results on Wednesday, August 2nd. The restaurant operator reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.02. The business had revenue of $569.87 million during the quarter, compared to analyst estimates of $573.12 million. The Cheesecake Factory had a net margin of 6.10% and a return on equity of 22.92%. The Cheesecake Factory’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.78 earnings per share. Equities research analysts predict that The Cheesecake Factory will post $2.67 EPS for the current fiscal year.
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The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 29th. Stockholders of record on Wednesday, August 16th will be given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 2.59%. This is a boost from The Cheesecake Factory’s previous quarterly dividend of $0.24. The ex-dividend date is Monday, August 14th. The Cheesecake Factory’s dividend payout ratio (DPR) is currently 33.68%.
In other news, VP Debby R. Zurzolo sold 6,000 shares of The Cheesecake Factory stock in a transaction on Thursday, May 25th. The shares were 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 through this link. Company insiders own 8.50% of the company’s stock.
Several institutional investors have recently made changes to their positions in the company. FMR LLC purchased a new position in shares of The Cheesecake Factory during the fourth quarter worth $5,988,000. Quadrature Capital Ltd purchased a new position in shares of The Cheesecake Factory during the fourth quarter worth $280,000. UBS Asset Management Americas Inc. boosted its position in shares of The Cheesecake Factory by 174.9% in the fourth quarter. UBS Asset Management Americas Inc. now owns 81,051 shares of the restaurant operator’s stock worth $4,854,000 after buying an additional 51,562 shares in the last quarter. Bank of Montreal Can boosted its position in shares of The Cheesecake Factory by 14.7% in the first quarter. Bank of Montreal Can now owns 5,128 shares of the restaurant operator’s stock worth $325,000 after buying an additional 659 shares in the last quarter. Finally, Private Trust Co. NA purchased a new position in shares of The Cheesecake Factory during the first quarter worth $483,000. 96.40% of the stock is currently owned by institutional investors.
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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