Cheesecake Factory (CAKE) Earns Hold Rating from Canaccord Genuity

Canaccord Genuity restated their hold rating on shares of Cheesecake Factory (NASDAQ:CAKE) in a report issued on Monday. Canaccord Genuity currently has a $54.00 price target on the restaurant operator’s stock.

CAKE has been the topic of several other research reports. Maxim Group reduced their price target on shares of Cheesecake Factory from $57.00 to $54.00 and set a buy rating on the stock in a research note on Thursday, November 2nd. Nomura dropped their target price on shares of Cheesecake Factory from $44.00 to $43.00 and set a neutral rating on the stock in a report on Friday, October 27th. BTIG Research reiterated a buy rating and set a $50.00 target price on shares of Cheesecake Factory in a report on Wednesday, September 20th. Stephens dropped their target price on shares of Cheesecake Factory from $48.00 to $45.00 and set an equal weight rating on the stock in a report on Wednesday, October 11th. Finally, Morgan Stanley dropped their target price on shares of Cheesecake Factory from $48.00 to $44.00 and set an equal weight rating on the stock in a report on Thursday, November 2nd. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus target price of $48.56.

Cheesecake Factory (NASDAQ CAKE) traded down $0.18 during mid-day trading on Monday, reaching $47.24. 1,189,800 shares of the company traded hands, compared to its average volume of 1,088,214. The stock has a market cap of $2,160.00, a P/E ratio of 17.43, a PEG ratio of 1.31 and a beta of 0.33. Cheesecake Factory has a 52 week low of $38.34 and a 52 week high of $67.14. The company has a quick ratio of 0.37, a current ratio of 0.51 and a debt-to-equity ratio of 0.05.

Cheesecake Factory (NASDAQ:CAKE) last posted its quarterly earnings results on Wednesday, November 1st. The restaurant operator reported $0.56 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.60 by ($0.04). The company had revenue of $555.40 million during the quarter, compared to analysts’ expectations of $566.09 million. Cheesecake Factory had a return on equity of 21.65% and a net margin of 5.76%. The company’s quarterly revenue was down .8% on a year-over-year basis. During the same period in the prior year, the business earned $0.70 EPS. analysts predict that Cheesecake Factory will post 2.6 earnings per share for the current fiscal year.

In other news, VP Debby R. Zurzolo sold 2,415 shares of the firm’s stock in a transaction dated Thursday, November 9th. The shares were sold at an average price of $44.20, for a total value of $106,743.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Herbert Simon purchased 25,000 shares of the stock in a transaction dated Monday, November 6th. The stock was purchased at an average price of $43.50 per share, for a total transaction of $1,087,500.00. The disclosure for this purchase can be found here. 8.40% of the stock is currently owned by company insiders.

Several large investors have recently added to or reduced their stakes in CAKE. Schwab Charles Investment Management Inc. boosted its holdings in shares of Cheesecake Factory by 3.7% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 304,130 shares of the restaurant operator’s stock valued at $15,298,000 after buying an additional 10,866 shares in the last quarter. Legal & General Group Plc boosted its holdings in shares of Cheesecake Factory by 19.8% in the 2nd quarter. Legal & General Group Plc now owns 34,315 shares of the restaurant operator’s stock valued at $1,728,000 after buying an additional 5,667 shares in the last quarter. Comerica Bank boosted its holdings in shares of Cheesecake Factory by 1.4% in the 2nd quarter. Comerica Bank now owns 27,617 shares of the restaurant operator’s stock valued at $1,360,000 after buying an additional 381 shares in the last quarter. State Board of Administration of Florida Retirement System boosted its holdings in shares of Cheesecake Factory by 0.4% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 34,552 shares of the restaurant operator’s stock valued at $1,738,000 after buying an additional 126 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its holdings in shares of Cheesecake Factory by 17.6% in the 2nd quarter. Victory Capital Management Inc. now owns 3,216 shares of the restaurant operator’s stock valued at $162,000 after buying an additional 482 shares in the last quarter. Institutional investors and hedge funds own 97.47% of the company’s stock.

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Cheesecake Factory Company Profile

The Cheesecake Factory Incorporated is engaged in the restaurant and bakery business. As of March 2, 2017, the Company operated 208 Company-owned restaurants: 194 under The Cheesecake Factory mark, 13 under the Grand Lux Cafe mark and one under the Rock Sugar Pan Asian Kitchen mark. The Company’s segments include The Cheesecake Factory restaurants, and other.

Analyst Recommendations for Cheesecake Factory (NASDAQ:CAKE)

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