JPMorgan Chase & Co. Has Lowered Expectations for Cheesecake Factory (NASDAQ:CAKE) Stock Price

Cheesecake Factory (NASDAQ:CAKE) had its price objective decreased by JPMorgan Chase & Co. from $57.00 to $52.00 in a research note issued on Thursday,Benzinga reports. The firm presently has an “underweight” rating on the restaurant operator’s stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 4.42% from the stock’s previous close.

A number of other research analysts have also issued reports on CAKE. Wells Fargo & Company reduced their price target on Cheesecake Factory from $60.00 to $55.00 and set an “equal weight” rating for the company in a research report on Wednesday. Robert W. Baird set a $57.00 price target on Cheesecake Factory in a research report on Wednesday. Mizuho set a $65.00 price target on Cheesecake Factory and gave the stock an “outperform” rating in a research report on Wednesday. Weiss Ratings reiterated a “buy (b)” rating on shares of Cheesecake Factory in a research report on Wednesday, October 8th. Finally, Oppenheimer set a $70.00 price target on Cheesecake Factory in a research report on Wednesday. Nine equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $59.47.

Cheesecake Factory Trading Up 1.4%

NASDAQ:CAKE opened at $49.80 on Thursday. Cheesecake Factory has a 12-month low of $42.69 and a 12-month high of $69.70. The firm has a market capitalization of $2.48 billion, a P/E ratio of 15.09, a P/E/G ratio of 1.21 and a beta of 1.06. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.51 and a quick ratio of 0.42. The business has a 50 day simple moving average of $56.14 and a 200 day simple moving average of $57.45.

Cheesecake Factory (NASDAQ:CAKE) last released its quarterly earnings data on Tuesday, October 28th. The restaurant operator reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.08. Cheesecake Factory had a return on equity of 47.25% and a net margin of 4.33%.The business had revenue of $907.23 million during the quarter, compared to analyst estimates of $912.95 million. During the same quarter in the previous year, the firm posted $0.58 EPS. The business’s revenue for the quarter was up 4.8% compared to the same quarter last year. Equities research analysts predict that Cheesecake Factory will post 3.71 EPS for the current year.

Insider Buying and Selling at Cheesecake Factory

In other news, President David M. Gordon sold 43,335 shares of the company’s stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $63.06, for a total value of $2,732,705.10. Following the completion of the sale, the president owned 24,532 shares in the company, valued at $1,546,987.92. This represents a 63.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 8.40% of the stock is currently owned by company insiders.

Institutional Trading of Cheesecake Factory

Several institutional investors have recently modified their holdings of CAKE. Wellington Management Group LLP lifted its holdings in shares of Cheesecake Factory by 156.7% in the first quarter. Wellington Management Group LLP now owns 3,045,705 shares of the restaurant operator’s stock valued at $148,204,000 after buying an additional 1,859,194 shares during the period. Westwood Holdings Group Inc. acquired a new stake in shares of Cheesecake Factory during the first quarter worth $75,795,000. Invesco Ltd. raised its position in shares of Cheesecake Factory by 83.5% during the first quarter. Invesco Ltd. now owns 2,591,205 shares of the restaurant operator’s stock worth $126,088,000 after purchasing an additional 1,178,722 shares during the period. Driehaus Capital Management LLC acquired a new stake in shares of Cheesecake Factory during the first quarter worth $47,720,000. Finally, Victory Capital Management Inc. raised its position in shares of Cheesecake Factory by 64.1% during the first quarter. Victory Capital Management Inc. now owns 1,766,131 shares of the restaurant operator’s stock worth $85,940,000 after purchasing an additional 689,784 shares during the period. Institutional investors and hedge funds own 94.48% of the company’s stock.

About Cheesecake Factory

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.