Cheesecake Factory (NASDAQ:CAKE) had its target price cut by Wedbush from $50.00 to $45.00 in a research note published on Thursday, The Fly reports. They currently have a neutral rating on the restaurant operator’s stock.
Several other research analysts have also recently weighed in on CAKE. JPMorgan Chase & Co. reissued an overweight rating on shares of in a report on Friday, June 28th. Raymond James cut shares of RioCan Real Estate Investment Trust to a hold rating in a report on Monday, July 15th. UBS Group reissued a hold rating and set a $7.80 price objective on shares of Deutsche Bank in a report on Friday, April 26th. Barclays boosted their price objective on shares of Black Knight from $56.00 to $66.00 and gave the company an overweight rating in a report on Thursday, May 2nd. Finally, BidaskClub cut shares of Weyco Group from a sell rating to a strong sell rating in a report on Saturday, July 13th. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have given a buy rating to the company. Cheesecake Factory has an average rating of Hold and an average price target of $51.07.
CAKE opened at $43.95 on Thursday. The company has a debt-to-equity ratio of 1.78, a current ratio of 0.35 and a quick ratio of 0.26. The firm’s 50 day moving average is $44.05. Cheesecake Factory has a twelve month low of $41.63 and a twelve month high of $60.19. The stock has a market capitalization of $1.99 billion, a PE ratio of 18.09, a price-to-earnings-growth ratio of 1.28 and a beta of 0.43.
Cheesecake Factory (NASDAQ:CAKE) last released its quarterly earnings data on Wednesday, May 1st. The restaurant operator reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.02. Cheesecake Factory had a net margin of 4.24% and a return on equity of 19.54%. The firm had revenue of $599.48 million during the quarter, compared to analysts’ expectations of $603.03 million. During the same period in the previous year, the company earned $0.56 earnings per share. The firm’s quarterly revenue was up 2.5% on a year-over-year basis. On average, equities analysts predict that Cheesecake Factory will post 2.65 earnings per share for the current year.
In other news, Director Laurence B. Mindel acquired 2,000 shares of Cheesecake Factory stock in a transaction dated Thursday, May 16th. The stock was purchased at an average cost of $47.50 per share, with a total value of $95,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Laurence B. Mindel acquired 1,500 shares of Cheesecake Factory stock in a transaction dated Monday, May 6th. The stock was purchased at an average cost of $49.64 per share, with a total value of $74,460.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 4,200 shares of company stock valued at $202,486. 8.50% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in CAKE. Advisory Services Network LLC increased its stake in shares of Cheesecake Factory by 379.3% in the first quarter. Advisory Services Network LLC now owns 647 shares of the restaurant operator’s stock worth $32,000 after purchasing an additional 512 shares in the last quarter. Quadrant Capital Group LLC boosted its position in shares of Cheesecake Factory by 1,134.1% during the first quarter. Quadrant Capital Group LLC now owns 1,012 shares of the restaurant operator’s stock worth $49,000 after acquiring an additional 930 shares during the last quarter. Advisor Group Inc. boosted its position in shares of Cheesecake Factory by 127.5% during the fourth quarter. Advisor Group Inc. now owns 4,240 shares of the restaurant operator’s stock worth $185,000 after acquiring an additional 2,376 shares during the last quarter. Dupont Capital Management Corp boosted its position in shares of Cheesecake Factory by 31.5% during the first quarter. Dupont Capital Management Corp now owns 4,030 shares of the restaurant operator’s stock worth $197,000 after acquiring an additional 966 shares during the last quarter. Finally, Paloma Partners Management Co purchased a new stake in shares of Cheesecake Factory in the fourth quarter valued at $216,000. 98.26% of the stock is owned by hedge funds and other institutional investors.
About Cheesecake Factory
The Cheesecake Factory Incorporated engages in the operation of restaurants. 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 April 16, 2019, it owned and operated 219 full-service casual-dining restaurants in the United States, including Puerto Rico and Canada comprising 202 restaurants under The Cheesecake Factory name; 14 restaurants under the Grand Lux Café name; and 2 restaurants under the RockSugar Southeast Asian Kitchen name, as well as 22 The Cheesecake Factory restaurants under licensing agreements internationally.
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