Cheesecake Factory’s (CAKE) Outperform Rating Reaffirmed at Wedbush

Wedbush reaffirmed their outperform rating on shares of Cheesecake Factory (NASDAQ:CAKE) in a research note issued to investors on Friday,Benzinga reports. Wedbush currently has a $52.00 price objective on the restaurant operator’s stock.

A number of other equities analysts also recently issued reports on the stock. JPMorgan Chase & Co. cut their price objective on shares of Cheesecake Factory from $40.00 to $38.00 and set an “underweight” rating on the stock in a report on Tuesday, August 6th. Robert W. Baird lifted their price objective on shares of Cheesecake Factory from $40.00 to $47.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Wells Fargo & Company lifted their price objective on shares of Cheesecake Factory from $38.00 to $45.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. UBS Group boosted their price target on shares of Cheesecake Factory from $32.00 to $36.00 and gave the stock a “sell” rating in a report on Friday, October 25th. Finally, Barclays boosted their price target on shares of Cheesecake Factory from $38.00 to $44.00 and gave the stock an “underweight” rating in a report on Wednesday, October 30th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $44.17.

Cheesecake Factory Stock Up 0.8 %

Cheesecake Factory stock opened at $46.94 on Friday. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.32 and a current ratio of 0.44. Cheesecake Factory has a 52-week low of $30.46 and a 52-week high of $50.75. The firm has a 50 day moving average price of $41.14 and a two-hundred day moving average price of $39.09. The firm has a market cap of $2.40 billion, a price-to-earnings ratio of 17.85, a PEG ratio of 1.28 and a beta of 1.47.

Cheesecake Factory (NASDAQ:CAKE) last announced its quarterly earnings results on Tuesday, October 29th. The restaurant operator reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.11. The business had revenue of $865.50 million during the quarter, compared to analyst estimates of $866.13 million. Cheesecake Factory had a net margin of 3.63% and a return on equity of 43.90%. Cheesecake Factory’s quarterly revenue was up 4.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.39 EPS. Equities analysts predict that Cheesecake Factory will post 3.3 EPS for the current year.

Cheesecake Factory Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 26th. Shareholders of record on Wednesday, November 13th will be given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 2.30%. The ex-dividend date is Wednesday, November 13th. Cheesecake Factory’s payout ratio is currently 41.06%.

Insider Buying and Selling at Cheesecake Factory

In other news, insider Keith Carango sold 13,095 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $49.88, for a total value of $653,178.60. Following the transaction, the insider now owns 14,977 shares in the company, valued at approximately $747,052.76. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 8.10% of the company’s stock.

Institutional Trading of Cheesecake Factory

Large investors have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC lifted its position in Cheesecake Factory by 2,360.7% during 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 period. GAMMA Investing LLC raised its position in shares of Cheesecake Factory by 276.4% in the 2nd quarter. GAMMA Investing LLC now owns 1,449 shares of the restaurant operator’s stock worth $57,000 after purchasing an additional 1,064 shares during the last quarter. nVerses Capital LLC purchased a new position in shares of Cheesecake Factory in the 2nd quarter worth about $67,000. SG Americas Securities LLC purchased a new position in Cheesecake Factory in the 1st quarter worth about $121,000. Finally, Wealth Alliance purchased a new position in Cheesecake Factory in the 2nd quarter worth about $213,000. Institutional investors own 94.48% of the company’s stock.

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.