Wall Street analysts predict that Cheesecake Factory Inc (NASDAQ:CAKE) will post $600.78 million in sales for the current quarter, according to Zacks Investment Research. Ten analysts have provided estimates for Cheesecake Factory’s earnings. The lowest sales estimate is $595.33 million and the highest is $605.69 million. Cheesecake Factory posted sales of $580.88 million during the same quarter last year, which suggests a positive year over year growth rate of 3.4%. The company is scheduled to report its next quarterly earnings report on Tuesday, October 29th.
According to Zacks, analysts expect that Cheesecake Factory will report full-year sales of $2.43 billion for the current financial year, with estimates ranging from $2.42 billion to $2.46 billion. For the next financial year, analysts forecast that the business will report sales of $2.57 billion, with estimates ranging from $2.50 billion to $2.70 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that cover Cheesecake Factory.
Cheesecake Factory (NASDAQ:CAKE) last issued its quarterly earnings data on Wednesday, July 31st. The restaurant operator reported $0.82 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.81 by $0.01. The business had revenue of $602.65 million during the quarter, compared to the consensus estimate of $612.16 million. Cheesecake Factory had a net margin of 4.52% and a return on equity of 21.31%. The firm’s revenue was up 2.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.61 EPS.
CAKE has been the subject of several research reports. Bank of America reissued a “neutral” rating and issued a $46.00 price objective (down previously from $51.00) on shares of Cheesecake Factory in a research note on Thursday. BidaskClub raised shares of Cheesecake Factory from a “strong sell” rating to a “sell” rating in a research note on Friday, July 19th. UBS Group initiated coverage on shares of Cheesecake Factory in a research note on Friday, April 26th. They issued a “neutral” rating and a $51.00 price objective for the company. Barclays increased their price objective on shares of Cheesecake Factory from $40.00 to $42.00 and gave the company an “underweight” rating in a research note on Thursday, May 2nd. Finally, Deutsche Bank initiated coverage on shares of Cheesecake Factory in a research note on Friday, June 28th. They issued a “hold” rating and a $46.00 price objective for the company. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $49.25.
In related news, Director Laurence B. Mindel purchased 1,500 shares of Cheesecake Factory stock in a transaction on Monday, May 6th. The stock was acquired at an average cost of $49.64 per share, for a total transaction of $74,460.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Laurence B. Mindel purchased 2,000 shares of Cheesecake Factory stock in a transaction on Thursday, May 16th. The stock was bought at an average price of $47.50 per share, with a total value of $95,000.00. The disclosure for this purchase can be found here. Insiders acquired 4,200 shares of company stock valued at $202,486 over the last 90 days. Corporate insiders own 8.50% of the company’s stock.
Large investors have recently bought and sold shares of the business. Advisor Group Inc. lifted its holdings in shares of Cheesecake Factory by 127.5% in the fourth quarter. Advisor Group Inc. now owns 4,240 shares of the restaurant operator’s stock valued at $185,000 after purchasing an additional 2,376 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Cheesecake Factory by 7.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,413,874 shares of the restaurant operator’s stock valued at $61,516,000 after purchasing an additional 95,965 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Cheesecake Factory by 6.4% during the fourth quarter. Geode Capital Management LLC now owns 515,688 shares of the restaurant operator’s stock worth $22,437,000 after acquiring an additional 30,830 shares in the last quarter. Mackay Shields LLC purchased a new stake in shares of Cheesecake Factory during the fourth quarter worth $866,000. Finally, Paloma Partners Management Co purchased a new stake in shares of Cheesecake Factory during the fourth quarter worth $216,000. Institutional investors and hedge funds own 98.26% of the company’s stock.
NASDAQ:CAKE traded down $1.86 on Friday, hitting $42.38. The company had a trading volume of 1,114,725 shares, compared to its average volume of 724,363. The stock has a market cap of $2.00 billion, a PE ratio of 17.44, a price-to-earnings-growth ratio of 1.29 and a beta of 0.41. The company has a quick ratio of 0.26, a current ratio of 0.01 and a debt-to-equity ratio of 1.78. The company’s 50 day moving average price is $43.87. Cheesecake Factory has a 52 week low of $40.71 and a 52 week high of $55.63.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 27th. Shareholders of record on Wednesday, August 14th will be issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 3.40%. This is a boost from Cheesecake Factory’s previous quarterly dividend of $0.33. The ex-dividend date is Tuesday, August 13th. Cheesecake Factory’s dividend payout ratio (DPR) is presently 54.32%.
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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