Cheesecake Factory (NASDAQ:CAKE) Price Target Raised to $58.00

Cheesecake Factory (NASDAQ:CAKE) had its target price hoisted by JPMorgan Chase & Co. from $50.00 to $58.00 in a research report report published on Wednesday morning, Marketbeat reports. They currently have an underweight rating on the restaurant operator’s stock.

A number of other equities analysts have also recently weighed in on the stock. Barclays reduced their price target on shares of Cheesecake Factory from $50.00 to $46.00 and set an “underweight” rating on the stock in a research report on Tuesday, April 22nd. Argus set a $60.00 price target on shares of Cheesecake Factory in a research report on Wednesday, May 14th. Stephens reaffirmed an “overweight” rating and issued a $60.00 price objective on shares of Cheesecake Factory in a research report on Thursday, May 1st. Morgan Stanley boosted their price objective on shares of Cheesecake Factory from $39.00 to $40.00 and gave the company an “underweight” rating in a research report on Thursday, May 1st. Finally, Wells Fargo & Company boosted their price objective on shares of Cheesecake Factory from $45.00 to $50.00 and gave the company an “equal weight” rating in a research report on Thursday, May 1st. Four equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, Cheesecake Factory has a consensus rating of “Hold” and a consensus price target of $54.63.

Cheesecake Factory Price Performance

CAKE opened at $62.25 on Wednesday. The company has a fifty day moving average price of $54.68 and a two-hundred day moving average price of $51.64. The company has a debt-to-equity ratio of 1.85, a quick ratio of 0.43 and a current ratio of 0.53. Cheesecake Factory has a 52 week low of $33.50 and a 52 week high of $62.30. The firm has a market capitalization of $3.08 billion, a PE ratio of 19.51, a P/E/G ratio of 1.56 and a beta of 1.14.

Cheesecake Factory (NASDAQ:CAKE) last announced its quarterly earnings results on Wednesday, April 30th. The restaurant operator reported $0.93 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.12. The company had revenue of $927.20 million for the quarter, compared to analysts’ expectations of $927.17 million. Cheesecake Factory had a net margin of 4.33% and a return on equity of 46.06%. The business’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same period last year, the firm posted $0.73 earnings per share. As a group, analysts anticipate that Cheesecake Factory will post 3.71 earnings per share for the current year.

Cheesecake Factory Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 27th. Stockholders of record on Wednesday, May 14th were paid a dividend of $0.27 per share. The ex-dividend date was Wednesday, May 14th. This represents a $1.08 annualized dividend and a dividend yield of 1.73%. Cheesecake Factory’s dividend payout ratio is presently 33.86%.

Insider Transactions at Cheesecake Factory

In other news, EVP Scarlett May sold 18,800 shares of the business’s stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $58.82, for a total transaction of $1,105,816.00. Following the transaction, the executive vice president now directly owns 22,872 shares in the company, valued at $1,345,331.04. The trade was a 45.11% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Keith Carango sold 50,500 shares of the company’s stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $55.12, for a total transaction of $2,783,560.00. Following the completion of the transaction, the insider now owns 20,774 shares in the company, valued at approximately $1,145,062.88. This trade represents a 70.85% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 133,000 shares of company stock worth $7,456,992 in the last ninety days. Insiders own 8.40% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Lido Advisors LLC grew its stake in Cheesecake Factory by 2.0% in the 4th quarter. Lido Advisors LLC now owns 10,805 shares of the restaurant operator’s stock valued at $513,000 after buying an additional 215 shares during the last quarter. Summit Investment Advisors Inc. grew its stake in Cheesecake Factory by 4.7% in the 4th quarter. Summit Investment Advisors Inc. now owns 5,051 shares of the restaurant operator’s stock valued at $240,000 after buying an additional 228 shares during the last quarter. Truist Financial Corp grew its stake in Cheesecake Factory by 3.3% in the 4th quarter. Truist Financial Corp now owns 8,045 shares of the restaurant operator’s stock valued at $382,000 after buying an additional 257 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Cheesecake Factory by 2.0% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,121 shares of the restaurant operator’s stock valued at $638,000 after buying an additional 260 shares during the last quarter. Finally, Blair William & Co. IL grew its stake in Cheesecake Factory by 5.2% in the 4th quarter. Blair William & Co. IL now owns 5,772 shares of the restaurant operator’s stock valued at $274,000 after buying an additional 283 shares during the last quarter. Institutional investors and hedge funds own 94.48% of the company’s stock.

Cheesecake Factory Company Profile

The Cheesecake Factory Incorporated operates and licenses restaurants in the United States and Canada. The company operates bakeries that produce cheesecakes and other baked products for its restaurants, international licensees, third-party bakery customers, external foodservice operators, retailers, and distributors.