Cheesecake Factory (NASDAQ:CAKE) had its target price cut by investment analysts at Wells Fargo & Co from $47.00 to $46.00 in a report issued on Thursday, BenzingaRatingsTable reports. The brokerage currently has a “market perform” rating on the restaurant operator’s stock. Wells Fargo & Co‘s price objective would suggest a potential upside of 8.54% from the company’s current price.
CAKE has been the subject of several other research reports. Barclays lifted their price target on shares of Cheesecake Factory from $40.00 to $42.00 and gave the stock an “underweight” rating in a research report on Thursday, May 2nd. Raymond James lowered their price target on shares of Cheesecake Factory from $56.00 to $53.00 and set an “outperform” rating for the company in a research report on Monday, July 15th. BidaskClub upgraded shares of Cheesecake Factory from a “strong sell” rating to a “sell” rating in a research report on Friday, July 19th. ValuEngine cut shares of Cheesecake Factory from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. Finally, UBS Group started coverage on shares of Cheesecake Factory in a research report on Friday, April 26th. They set a “neutral” rating and a $51.00 price target for the company. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the stock. Cheesecake Factory presently has a consensus rating of “Hold” and a consensus price target of $49.25.
Shares of NASDAQ:CAKE traded down $1.86 during trading on Thursday, hitting $42.38. 1,114,725 shares of the company’s stock were exchanged, compared to its average volume of 639,780. Cheesecake Factory has a 1-year low of $40.71 and a 1-year high of $55.63. The company’s 50-day moving average is $43.87. The company has a debt-to-equity ratio of 1.78, a quick ratio of 0.26 and a current ratio of 0.35. The company has a market capitalization of $1.95 billion, a price-to-earnings ratio of 17.44, a P/E/G ratio of 1.25 and a beta of 0.41.
Cheesecake Factory (NASDAQ:CAKE) last issued its quarterly earnings results on Wednesday, July 31st. The restaurant operator reported $0.82 EPS for the quarter, topping the consensus estimate of $0.81 by $0.01. Cheesecake Factory had a net margin of 4.52% and a return on equity of 20.98%. The company had revenue of $602.65 million during the quarter, compared to analysts’ expectations of $612.16 million. During the same quarter in the previous year, the company earned $0.61 EPS. Cheesecake Factory’s revenue was up 2.6% on a year-over-year basis. On average, research analysts predict that Cheesecake Factory will post 2.64 EPS for the current fiscal year.
In related news, Director Laurence B. Mindel purchased 2,000 shares of the business’s stock in a transaction on Thursday, May 16th. The shares were purchased at an average price of $47.50 per share, with a total value of $95,000.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Edie A. Ames purchased 700 shares of the business’s stock in a transaction on Monday, May 13th. The stock was bought at an average cost of $47.18 per share, for a total transaction of $33,026.00. Following the purchase, the director now owns 3,130 shares of the company’s stock, valued at approximately $147,673.40. The disclosure for this purchase can be found here. Insiders have purchased a total of 4,200 shares of company stock worth $202,486 in the last three months. 8.50% of the stock is owned by insiders.
Institutional investors and hedge funds have recently made changes to their positions in the business. APG Asset Management N.V. lifted its stake in Cheesecake Factory by 217.3% in the fourth quarter. APG Asset Management N.V. now owns 223,700 shares of the restaurant operator’s stock valued at $8,514,000 after buying an additional 153,200 shares in the last quarter. Quadrant Capital Group LLC lifted its position in shares of Cheesecake Factory by 1,134.1% in the first quarter. Quadrant Capital Group LLC now owns 1,012 shares of the restaurant operator’s stock worth $49,000 after purchasing an additional 930 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of Cheesecake Factory by 50.3% in the first quarter. Victory Capital Management Inc. now owns 30,474 shares of the restaurant operator’s stock worth $1,491,000 after purchasing an additional 10,200 shares in the last quarter. Gagnon Securities LLC lifted its position in shares of Cheesecake Factory by 2.6% in the first quarter. Gagnon Securities LLC now owns 16,596 shares of the restaurant operator’s stock worth $812,000 after purchasing an additional 426 shares in the last quarter. Finally, Deutsche Bank AG lifted its position in shares of Cheesecake Factory by 110.7% in the fourth quarter. Deutsche Bank AG now owns 461,656 shares of the restaurant operator’s stock worth $20,084,000 after purchasing an additional 242,602 shares in the last quarter. 98.26% of the stock is currently owned by hedge funds and other institutional investors.
Cheesecake Factory Company Profile
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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