The Cheesecake Factory Incorporated (NASDAQ:CAKE) Receives $59.38 Average PT from Analysts

The Cheesecake Factory Incorporated (NASDAQ:CAKE) has earned a consensus rating of “Hold” from the sixteen brokerages that are currently covering the stock, MarketBeat reports. Four equities research analysts have rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $60.94.

A number of research analysts have issued reports on CAKE shares. Barclays increased their target price on shares of Cheesecake Factory from $57.00 to $62.00 and gave the stock an “underweight” rating in a research report on Wednesday. Stephens reiterated an “overweight” rating and issued a $60.00 price target on shares of Cheesecake Factory in a research note on Thursday, May 1st. Robert W. Baird raised their price objective on Cheesecake Factory from $56.00 to $64.00 and gave the stock a “neutral” rating in a research note on Wednesday. Bank of America lifted their price objective on Cheesecake Factory from $61.00 to $67.00 and gave the company a “neutral” rating in a report on Friday, July 18th. Finally, Citigroup reduced their target price on Cheesecake Factory from $67.00 to $62.00 and set a “buy” rating on the stock in a report on Tuesday, April 15th.

Cheesecake Factory Stock Up 5.2%

CAKE opened at $66.47 on Monday. The stock has a fifty day moving average of $60.63 and a 200-day moving average of $54.09. The company has a market capitalization of $3.29 billion, a P/E ratio of 20.45, a P/E/G ratio of 1.65 and a beta of 1.16. Cheesecake Factory has a fifty-two week low of $33.50 and a fifty-two week high of $69.70. The company has a debt-to-equity ratio of 1.85, a quick ratio of 0.43 and a current ratio of 0.53.

Cheesecake Factory (NASDAQ:CAKE) last released its quarterly earnings results on Tuesday, July 29th. The restaurant operator reported $1.16 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.10. Cheesecake Factory had a net margin of 4.33% and a return on equity of 46.15%. The business had revenue of $955.83 million for the quarter, compared to analyst estimates of $945.82 million. During the same period last year, the firm earned $1.09 earnings per share. Cheesecake Factory’s revenue for the quarter was up 5.7% compared to the same quarter last year. On average, equities analysts expect that Cheesecake Factory will post 3.71 EPS for the current year.

Cheesecake Factory Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 26th. Stockholders of record on Tuesday, August 12th will be issued a $0.27 dividend. The ex-dividend date of this dividend is Tuesday, August 12th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.62%. Cheesecake Factory’s dividend payout ratio (DPR) is currently 33.86%.

Insider Activity

In related news, EVP Scarlett May sold 18,800 shares of the stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $58.82, for a total value of $1,105,816.00. Following the completion of the transaction, the executive vice president owned 22,872 shares of the company’s stock, valued at $1,345,331.04. This represents a 45.11% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Matthew Eliot Clark sold 42,900 shares of the business’s stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $56.00, for a total transaction of $2,402,400.00. Following the sale, the chief financial officer directly owned 40,878 shares in the company, valued at approximately $2,289,168. The trade was a 51.21% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 133,000 shares of company stock worth $7,456,992. Corporate insiders own 8.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Ameritas Advisory Services LLC bought a new stake in Cheesecake Factory during the 2nd quarter worth $28,000. USA Financial Formulas acquired a new stake in shares of Cheesecake Factory during the first quarter valued at about $49,000. Golden State Wealth Management LLC grew its holdings in shares of Cheesecake Factory by 100.0% during the first quarter. Golden State Wealth Management LLC now owns 1,060 shares of the restaurant operator’s stock worth $52,000 after purchasing an additional 530 shares during the last quarter. SBI Securities Co. Ltd. grew its holdings in shares of Cheesecake Factory by 38.5% during the first quarter. SBI Securities Co. Ltd. now owns 1,244 shares of the restaurant operator’s stock worth $61,000 after purchasing an additional 346 shares during the last quarter. Finally, Bayforest Capital Ltd acquired a new position in shares of Cheesecake Factory in the first quarter valued at approximately $72,000. 94.48% of the stock is currently owned by institutional investors and hedge funds.

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.