William Blair Has Strong Estimate for CAKE FY2024 Earnings

The Cheesecake Factory Incorporated (NASDAQ:CAKE) – Equities research analysts at William Blair boosted their FY2024 earnings per share (EPS) estimates for Cheesecake Factory in a report released on Monday, January 20th. William Blair analyst S. Zackfia now expects that the restaurant operator will post earnings per share of $3.33 for the year, up from their previous forecast of $3.31. The consensus estimate for Cheesecake Factory’s current full-year earnings is $3.31 per share. William Blair also issued estimates for Cheesecake Factory’s Q4 2024 earnings at $0.93 EPS, Q1 2025 earnings at $0.93 EPS, Q2 2025 earnings at $1.09 EPS, Q3 2025 earnings at $0.59 EPS, Q4 2025 earnings at $1.09 EPS, FY2025 earnings at $3.70 EPS and FY2026 earnings at $4.08 EPS.

CAKE has been the subject of a number of other research reports. Bank of America upped their price objective on Cheesecake Factory from $47.00 to $49.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. UBS Group upped their price target on Cheesecake Factory from $36.00 to $41.00 and gave the company a “sell” rating in a research note on Tuesday, January 7th. Wedbush lifted their price objective on shares of Cheesecake Factory from $52.00 to $59.00 and gave the stock an “outperform” rating in a research note on Thursday, November 14th. Robert W. Baird upped their target price on shares of Cheesecake Factory from $40.00 to $47.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Finally, Barclays lifted their price target on shares of Cheesecake Factory from $38.00 to $44.00 and gave the stock an “underweight” rating in a research report on Wednesday, October 30th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $49.40.

Cheesecake Factory Stock Performance

Shares of Cheesecake Factory stock opened at $50.95 on Wednesday. The firm has a fifty day moving average of $48.97 and a two-hundred day moving average of $43.05. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.33 and a current ratio of 0.44. The stock has a market capitalization of $2.60 billion, a price-to-earnings ratio of 19.37, a PEG ratio of 1.21 and a beta of 1.50. Cheesecake Factory has a 52 week low of $33.05 and a 52 week high of $52.90.

Cheesecake Factory (NASDAQ:CAKE) last issued its quarterly earnings results on Tuesday, October 29th. The restaurant operator reported $0.58 EPS for the quarter, topping the consensus estimate of $0.47 by $0.11. Cheesecake Factory had a net margin of 3.63% and a return on equity of 43.90%. The company had revenue of $865.50 million during the quarter, compared to analysts’ expectations of $866.13 million. During the same quarter in the previous year, the company earned $0.39 EPS. Cheesecake Factory’s revenue was up 4.3% on a year-over-year basis.

Hedge Funds Weigh In On Cheesecake Factory

A number of large investors have recently made changes to their positions in the company. Quest Partners LLC acquired a new position in Cheesecake Factory in the 3rd quarter valued at $973,000. Principal Financial Group Inc. boosted its position in shares of Cheesecake Factory by 9.6% in the third quarter. Principal Financial Group Inc. now owns 255,595 shares of the restaurant operator’s stock valued at $10,364,000 after acquiring an additional 22,416 shares during the period. Victory Capital Management Inc. grew its stake in shares of Cheesecake Factory by 32.7% in the third quarter. Victory Capital Management Inc. now owns 403,271 shares of the restaurant operator’s stock valued at $16,353,000 after acquiring an additional 99,341 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Cheesecake Factory by 3.6% during the second quarter. Dimensional Fund Advisors LP now owns 1,241,272 shares of the restaurant operator’s stock worth $48,772,000 after acquiring an additional 43,128 shares during the period. Finally, Geode Capital Management LLC raised its stake in Cheesecake Factory by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 1,118,549 shares of the restaurant operator’s stock worth $45,365,000 after purchasing an additional 12,493 shares in the last quarter. Institutional investors own 94.48% of the company’s stock.

Insider Buying and Selling at Cheesecake Factory

In other Cheesecake Factory news, insider Keith Carango sold 13,095 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $49.88, for a total transaction of $653,178.60. Following the completion of the sale, the insider now owns 14,977 shares of the company’s stock, valued at $747,052.76. This trade represents a 46.65 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 8.10% 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.