The Cheesecake Factory Incorporated (NASDAQ:CAKE) Receives $34.60 Average Price Target from Brokerages

The Cheesecake Factory Incorporated (NASDAQ:CAKE) has earned a consensus rating of “Hold” from the twelve research firms that are currently covering the stock, Marketbeat reports. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $34.60.

A number of equities analysts have issued reports on the company. Piper Sandler raised their target price on Cheesecake Factory from $33.00 to $37.00 and gave the stock a “neutral” rating in a report on Thursday, February 22nd. Stephens restated an “overweight” rating and set a $44.00 target price on shares of Cheesecake Factory in a report on Friday, April 12th. JPMorgan Chase & Co. cut Cheesecake Factory from a “neutral” rating to an “underweight” rating and set a $33.00 target price on the stock. in a report on Tuesday, January 23rd. Wedbush restated an “outperform” rating and set a $40.00 target price on shares of Cheesecake Factory in a report on Wednesday, April 10th. Finally, Barclays raised their target price on Cheesecake Factory from $32.00 to $33.00 and gave the stock an “underweight” rating in a report on Thursday, February 22nd.

Cheesecake Factory Price Performance

Cheesecake Factory stock opened at $34.63 on Friday. The business’s 50-day simple moving average is $35.21 and its 200 day simple moving average is $33.92. The stock has a market cap of $1.77 billion, a price-to-earnings ratio of 16.81, a P/E/G ratio of 1.12 and a beta of 1.48. Cheesecake Factory has a 12-month low of $28.58 and a 12-month high of $38.19. The company has a quick ratio of 0.37, a current ratio of 0.46 and a debt-to-equity ratio of 1.48.

Cheesecake Factory (NASDAQ:CAKE) last posted its quarterly earnings results on Wednesday, February 21st. The restaurant operator reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.07. Cheesecake Factory had a return on equity of 41.66% and a net margin of 2.95%. The business had revenue of $877.00 million for the quarter, compared to analysts’ expectations of $876.17 million. During the same quarter last year, the business earned $0.56 earnings per share. The firm’s quarterly revenue was down 1.8% compared to the same quarter last year. As a group, research analysts anticipate that Cheesecake Factory will post 3.06 earnings per share for the current year.

Cheesecake Factory Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 19th. Investors of record on Wednesday, March 6th were given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 3.12%. The ex-dividend date was Tuesday, March 5th. Cheesecake Factory’s dividend payout ratio is presently 52.43%.

Institutional Investors Weigh In On Cheesecake Factory

A number of hedge funds and other institutional investors have recently bought and sold shares of CAKE. Studio Investment Management LLC acquired a new stake in Cheesecake Factory in the 3rd quarter valued at approximately $25,000. Allspring Global Investments Holdings LLC increased its position in shares of Cheesecake Factory by 2,360.7% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 689 shares of the restaurant operator’s stock worth $25,000 after purchasing an additional 661 shares during the last quarter. Ables Iannone Moore & Associates Inc. acquired a new position in shares of Cheesecake Factory during the 4th quarter worth approximately $26,000. Quadrant Capital Group LLC increased its position in shares of Cheesecake Factory by 48.4% during the 4th quarter. Quadrant Capital Group LLC now owns 1,566 shares of the restaurant operator’s stock worth $55,000 after purchasing an additional 511 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale acquired a new position in shares of Cheesecake Factory during the 3rd quarter worth approximately $70,000. 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.