JPMorgan Chase & Co. Cuts Cheesecake Factory (NASDAQ:CAKE) Price Target to $48.00

Cheesecake Factory (NASDAQ:CAKE) had its target price cut by research analysts at JPMorgan Chase & Co. from $55.00 to $48.00 in a report released on Thursday,Benzinga reports. The firm currently has an “underweight” rating on the restaurant operator’s stock. JPMorgan Chase & Co.‘s target price suggests a potential downside of 1.44% from the stock’s previous close.

CAKE has been the subject of a number of other research reports. Citigroup reaffirmed a “buy” rating on shares of Cheesecake Factory in a research report on Tuesday, February 4th. William Blair reaffirmed an “outperform” rating on shares of Cheesecake Factory in a research report on Thursday, February 20th. UBS Group upped their price target on shares of Cheesecake Factory from $41.00 to $45.00 and gave the stock a “sell” rating in a research note on Thursday, February 20th. Morgan Stanley raised their price objective on shares of Cheesecake Factory from $37.00 to $40.00 and gave the company an “underweight” rating in a research note on Thursday, February 20th. Finally, Robert W. Baird increased their price target on shares of Cheesecake Factory from $52.00 to $57.00 and gave the company a “neutral” rating in a report on Thursday, February 20th. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $52.81.

Cheesecake Factory Stock Up 0.4 %

NASDAQ:CAKE opened at $48.70 on Thursday. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.44 and a quick ratio of 0.33. The firm’s 50-day moving average price is $51.50 and its 200-day moving average price is $47.10. The company has a market capitalization of $2.52 billion, a PE ratio of 15.22, a P/E/G ratio of 1.31 and a beta of 1.55. Cheesecake Factory has a 1-year low of $33.05 and a 1-year high of $57.32.

Cheesecake Factory (NASDAQ:CAKE) last posted its quarterly earnings data on Wednesday, February 19th. The restaurant operator reported $1.04 EPS for the quarter, topping the consensus estimate of $0.91 by $0.13. Cheesecake Factory had a net margin of 4.38% and a return on equity of 45.89%. The business had revenue of $920.96 million for the quarter, compared to analyst estimates of $912.67 million. On average, equities analysts predict that Cheesecake Factory will post 3.71 EPS for the current fiscal year.

Insider Activity at Cheesecake Factory

In other news, Chairman David Overton sold 100,000 shares of the business’s stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $53.08, for a total value of $5,308,000.00. Following the transaction, the chairman now directly owns 3,092,147 shares in the company, valued at $164,131,162.76. The trade was a 3.13 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Matthew Eliot Clark sold 29,000 shares of the stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $53.56, for a total value of $1,553,240.00. Following the sale, the chief financial officer now owns 39,856 shares of the company’s stock, valued at $2,134,687.36. This represents a 42.12 % decrease in their position. The disclosure for this sale can be found here. 8.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC raised its position in shares of Cheesecake Factory by 5.8% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 7,049 shares of the restaurant operator’s stock valued at $334,000 after buying an additional 386 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Cheesecake Factory by 15.6% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 101,208 shares of the restaurant operator’s stock valued at $4,801,000 after acquiring an additional 13,678 shares during the last quarter. Voloridge Investment Management LLC lifted its stake in Cheesecake Factory by 42.7% in the 4th quarter. Voloridge Investment Management LLC now owns 489,570 shares of the restaurant operator’s stock worth $23,225,000 after purchasing an additional 146,469 shares in the last quarter. Twinbeech Capital LP purchased a new stake in Cheesecake Factory in the 4th quarter worth $1,500,000. Finally, State of Wyoming boosted its holdings in shares of Cheesecake Factory by 21.2% during the 4th quarter. State of Wyoming now owns 8,215 shares of the restaurant operator’s stock valued at $390,000 after purchasing an additional 1,435 shares during the last quarter. 94.48% of the stock is owned by hedge funds and other institutional investors.

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.