Cheesecake Factory (NASDAQ:CAKE) Shares Cross Above Two Hundred Day Moving Average of $35.89

The Cheesecake Factory Incorporated (NASDAQ:CAKE)’s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $35.89 and traded as high as $39.40. Cheesecake Factory shares last traded at $38.50, with a volume of 738,333 shares changing hands.

Analyst Ratings Changes

A number of equities research analysts recently commented on CAKE shares. Wells Fargo & Company increased their price target on Cheesecake Factory from $35.00 to $36.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 9th. Robert W. Baird raised their target price on Cheesecake Factory from $32.00 to $37.00 and gave the company a “neutral” rating in a research note on Thursday, May 9th. Barclays decreased their price objective on shares of Cheesecake Factory from $33.00 to $32.00 and set an “underweight” rating on the stock in a report on Thursday, May 9th. Bank of America boosted their target price on shares of Cheesecake Factory from $39.00 to $43.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 15th. Finally, Wedbush reissued an “outperform” rating and set a $45.00 price target on shares of Cheesecake Factory in a research note on Thursday, May 30th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, Cheesecake Factory currently has a consensus rating of “Hold” and a consensus price target of $39.58.

Cheesecake Factory Trading Down 2.0 %

The business has a 50 day moving average of $37.91 and a 200 day moving average of $35.89. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.43 and a quick ratio of 0.33. The firm has a market capitalization of $1.96 billion, a price-to-earnings ratio of 17.66, a PEG ratio of 1.15 and a beta of 1.51.

Cheesecake Factory (NASDAQ:CAKE) last announced its quarterly earnings results on Wednesday, May 8th. The restaurant operator reported $0.73 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.10. The company had revenue of $891.22 million during the quarter, compared to analysts’ expectations of $890.49 million. Cheesecake Factory had a return on equity of 42.15% and a net margin of 3.07%. Cheesecake Factory’s revenue was up 2.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.61 EPS. As a group, research analysts predict that The Cheesecake Factory Incorporated will post 3.16 earnings per share for the current fiscal year.

Cheesecake Factory Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 4th. Investors of record on Wednesday, May 22nd were given a $0.27 dividend. The ex-dividend date of this dividend was Tuesday, May 21st. This represents a $1.08 annualized dividend and a dividend yield of 2.81%. Cheesecake Factory’s dividend payout ratio is presently 49.54%.

Insider Activity

In other Cheesecake Factory news, insider Keith Carango sold 3,785 shares of Cheesecake Factory stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $40.10, for a total value of $151,778.50. Following the sale, the insider now owns 28,072 shares of the company’s stock, valued at approximately $1,125,687.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 8.10% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Studio Investment Management LLC bought a new position in Cheesecake Factory during the third quarter worth about $25,000. Allspring Global Investments Holdings LLC lifted its position in shares of Cheesecake Factory by 2,360.7% in the first quarter. Allspring Global Investments Holdings LLC now owns 689 shares of the restaurant operator’s stock valued at $25,000 after buying an additional 661 shares during the last quarter. Ables Iannone Moore & Associates Inc. bought a new position in shares of Cheesecake Factory during the 4th quarter worth approximately $26,000. Quadrant Capital Group LLC increased its holdings 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 acquiring an additional 511 shares during the last quarter. Finally, SG Americas Securities LLC bought a new stake in Cheesecake Factory in the 1st quarter valued at $121,000. Institutional investors 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.