The Cheesecake Factory (NASDAQ:CAKE) was downgraded by equities researchers at BidaskClub from a “hold” rating to a “sell” rating in a note issued to investors on Wednesday, March 14th.
Other equities research analysts also recently issued research reports about the company. TheStreet raised The Cheesecake Factory from a “c+” rating to a “b” rating in a report on Friday, January 5th. BTIG Research raised their target price on The Cheesecake Factory to $55.00 and gave the company a “buy” rating in a report on Thursday, February 22nd. Zacks Investment Research raised The Cheesecake Factory from a “hold” rating to a “buy” rating and set a $53.00 target price on the stock in a report on Tuesday, February 6th. Barclays raised their price objective on The Cheesecake Factory from $47.00 to $48.00 and gave the company an “equal weight” rating in a report on Wednesday, January 24th. Finally, Morgan Stanley reissued an “equal weight” rating and set a $49.00 price objective (down previously from $50.00) on shares of The Cheesecake Factory in a report on Thursday, February 22nd. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating and three have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $48.18.
The Cheesecake Factory stock traded up $0.32 during mid-day trading on Wednesday, reaching $52.06. 2,026,360 shares of the company were exchanged, compared to its average volume of 889,756. The Cheesecake Factory has a 12 month low of $38.34 and a 12 month high of $67.14. The company has a debt-to-equity ratio of 0.02, a current ratio of 0.52 and a quick ratio of 0.42. The firm has a market cap of $2,389.55, a PE ratio of 20.02, a price-to-earnings-growth ratio of 1.33 and a beta of 0.29.
The Cheesecake Factory (NASDAQ:CAKE) last issued its earnings results on Wednesday, February 21st. The restaurant operator reported $0.53 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.53. The firm had revenue of $571.80 million for the quarter, compared to the consensus estimate of $567.80 million. The Cheesecake Factory had a return on equity of 20.30% and a net margin of 6.96%. The company’s revenue was down 5.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.67 EPS. sell-side analysts expect that The Cheesecake Factory will post 2.73 earnings per share for the current fiscal year.
In other The Cheesecake Factory news, insider Cheryl Slomann sold 5,500 shares of The Cheesecake Factory stock in a transaction dated Monday, March 12th. The stock was sold at an average price of $49.87, for a total transaction of $274,285.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 8.40% of the stock is currently owned by insiders.
Several hedge funds have recently bought and sold shares of CAKE. Nationwide Fund Advisors raised its position in shares of The Cheesecake Factory by 31.2% in the 3rd quarter. Nationwide Fund Advisors now owns 158,471 shares of the restaurant operator’s stock worth $6,675,000 after acquiring an additional 37,693 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of The Cheesecake Factory by 473.2% in the 3rd quarter. Victory Capital Management Inc. now owns 18,433 shares of the restaurant operator’s stock worth $776,000 after acquiring an additional 15,217 shares in the last quarter. Canada Pension Plan Investment Board raised its position in shares of The Cheesecake Factory by 177.2% in the 3rd quarter. Canada Pension Plan Investment Board now owns 60,702 shares of the restaurant operator’s stock worth $2,557,000 after acquiring an additional 38,800 shares in the last quarter. Prudential Financial Inc. raised its position in shares of The Cheesecake Factory by 286.4% in the 3rd quarter. Prudential Financial Inc. now owns 117,429 shares of the restaurant operator’s stock worth $4,946,000 after acquiring an additional 87,040 shares in the last quarter. Finally, Boston Partners bought a new position in shares of The Cheesecake Factory in the 3rd quarter worth about $1,642,000. 97.62% of the stock is owned by hedge funds and other institutional investors.
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About The Cheesecake Factory
The Cheesecake Factory Incorporated operates restaurants in the United States. The company produces cheesecakes and other baked products for own restaurants and international licensees, as well as external foodservice operators, retailers, and distributors. As of February 28, 2018, it operated 214 company-owned restaurants, including 199 restaurants under The Cheesecake Factory brand; 13 restaurants under the Grand Lux Cafe brand; and 2 restaurants under the RockSugar Southeast Asian Kitchen brand, as well as 20 The Cheesecake Factory branded restaurants under licensing agreements internationally.
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