Cheesecake Factory (CAKE) Price Target Lowered to $51.00 at Barclays

Cheesecake Factory (NASDAQ:CAKE) had its target price trimmed by Barclays from $54.00 to $51.00 in a research report released on Wednesday morning. The brokerage currently has an equal weight rating on the restaurant operator’s stock.

CAKE has been the topic of a number of other reports. ValuEngine lowered Cheesecake Factory from a buy rating to a hold rating in a report on Thursday, August 2nd. Robert W. Baird upped their price objective on Cheesecake Factory from $55.00 to $58.00 and gave the company a neutral rating in a report on Wednesday, July 25th. Wedbush reaffirmed a hold rating and issued a $55.00 price objective on shares of Cheesecake Factory in a report on Wednesday, August 1st. BidaskClub lowered Cheesecake Factory from a buy rating to a hold rating in a report on Thursday, September 13th. Finally, Loop Capital assumed coverage on Cheesecake Factory in a report on Wednesday, October 24th. They set a hold rating and a $55.00 target price on the stock. Seventeen analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Cheesecake Factory has an average rating of Hold and a consensus target price of $52.93.

NASDAQ CAKE traded up $0.58 on Wednesday, reaching $49.17. The stock had a trading volume of 704,278 shares, compared to its average volume of 909,714. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.02 and a quick ratio of 0.38. Cheesecake Factory has a 1-year low of $41.75 and a 1-year high of $60.19. The firm has a market cap of $2.25 billion, a price-to-earnings ratio of 20.83, a P/E/G ratio of 1.40 and a beta of 0.33.

Cheesecake Factory (NASDAQ:CAKE) last issued its quarterly earnings data on Tuesday, October 30th. The restaurant operator reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.04. Cheesecake Factory had a return on equity of 18.02% and a net margin of 6.02%. The firm had revenue of $580.88 million for the quarter, compared to analyst estimates of $585.44 million. During the same period in the prior year, the firm posted $0.56 EPS. The company’s revenue for the quarter was up 4.6% on a year-over-year basis. On average, equities analysts anticipate that Cheesecake Factory will post 2.44 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 27th. Stockholders of record on Wednesday, November 14th will be issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 2.68%. The ex-dividend date of this dividend is Tuesday, November 13th. Cheesecake Factory’s dividend payout ratio (DPR) is currently 50.77%.

In related news, insider Cheryl Slomann sold 1,005 shares of the firm’s stock in a transaction dated Monday, August 27th. The stock was sold at an average price of $52.94, for a total value of $53,204.70. Following the sale, the insider now directly owns 12,106 shares of the company’s stock, valued at $640,891.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Edie A. Ames acquired 500 shares of Cheesecake Factory stock in a transaction that occurred on Wednesday, August 22nd. The stock was acquired at an average cost of $52.83 per share, for a total transaction of $26,415.00. Following the completion of the purchase, the director now directly owns 1,430 shares of the company’s stock, valued at $75,546.90. The disclosure for this purchase can be found here. Corporate insiders own 8.80% of the company’s stock.

Large investors have recently added to or reduced their stakes in the stock. Vident Investment Advisory LLC boosted its stake in Cheesecake Factory by 14.4% in the second quarter. Vident Investment Advisory LLC now owns 17,347 shares of the restaurant operator’s stock valued at $955,000 after buying an additional 2,181 shares in the last quarter. First Republic Investment Management Inc. boosted its stake in Cheesecake Factory by 10.4% in the second quarter. First Republic Investment Management Inc. now owns 25,072 shares of the restaurant operator’s stock valued at $1,380,000 after buying an additional 2,370 shares in the last quarter. Moody Aldrich Partners LLC acquired a new stake in Cheesecake Factory in the second quarter valued at about $1,363,000. Phocas Financial Corp. acquired a new stake in Cheesecake Factory in the second quarter valued at about $5,634,000. Finally, American Century Companies Inc. boosted its stake in Cheesecake Factory by 19.0% in the second quarter. American Century Companies Inc. now owns 130,020 shares of the restaurant operator’s stock valued at $7,159,000 after buying an additional 20,790 shares in the last quarter.

About Cheesecake Factory

The Cheesecake Factory Incorporated operates restaurants in the United States. 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 August 21, 2018, it operated 215 company-owned restaurants, including 199 restaurants under The Cheesecake Factory brand; 14 restaurants under the Grand Lux Cafe brand; and 2 restaurants under the RockSugar Southeast Asian Kitchen brand, as well as 21 The Cheesecake Factory branded restaurants under licensing agreements internationally.

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Analyst Recommendations for Cheesecake Factory (NASDAQ:CAKE)

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