Cheesecake Factory (NASDAQ:CAKE) Hits New 52-Week Low at $36.07

Cheesecake Factory Inc (NASDAQ:CAKE) shares hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $36.07 and last traded at $36.30, with a volume of 276313 shares traded. The stock had previously closed at $36.91.

CAKE has been the subject of several research reports. Barclays upped their target price on Cheesecake Factory from $40.00 to $42.00 and gave the stock an “underweight” rating in a research note on Thursday, May 2nd. BidaskClub lowered Cheesecake Factory from a “sell” rating to a “strong sell” rating in a research note on Saturday. TheStreet lowered Cheesecake Factory from a “b” rating to a “c+” rating in a research note on Wednesday, May 29th. Bank of America reissued a “neutral” rating and set a $46.00 price objective (down previously from $51.00) on shares of Cheesecake Factory in a research note on Thursday, August 1st. Finally, Wells Fargo & Co dropped their price objective on Cheesecake Factory from $47.00 to $46.00 and set a “market perform” rating for the company in a research note on Thursday, August 1st. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the company. Cheesecake Factory presently has an average rating of “Hold” and a consensus target price of $49.25.

The stock has a market cap of $1.63 billion, a PE ratio of 15.01, a price-to-earnings-growth ratio of 1.07 and a beta of 0.41. The company has a debt-to-equity ratio of 1.81, a current ratio of 0.36 and a quick ratio of 0.26. The business has a 50 day moving average price of $42.03 and a two-hundred day moving average price of $45.44.

Cheesecake Factory (NASDAQ:CAKE) last announced its earnings results on Wednesday, July 31st. The restaurant operator reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.01. The company had revenue of $602.65 million during the quarter, compared to the consensus estimate of $612.16 million. Cheesecake Factory had a return on equity of 21.31% and a net margin of 4.52%. The firm’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.61 earnings per share. On average, sell-side analysts forecast that Cheesecake Factory Inc will post 2.62 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 27th. Investors of record on Wednesday, August 14th will be issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 3.95%. The ex-dividend date is Tuesday, August 13th. This is an increase from Cheesecake Factory’s previous quarterly dividend of $0.33. Cheesecake Factory’s dividend payout ratio is currently 59.26%.

In other Cheesecake Factory news, Director Laurence B. Mindel bought 2,500 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The stock was bought at an average price of $39.04 per share, for a total transaction of $97,600.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Edie A. Ames bought 750 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The shares were acquired at an average price of $42.18 per share, with a total value of $31,635.00. Following the acquisition, the director now owns 3,880 shares of the company’s stock, valued at $163,658.40. The disclosure for this purchase can be found here. 8.50% of the stock is owned by corporate insiders.

Institutional investors have recently made changes to their positions in the stock. Quadrant Capital Group LLC raised its holdings in 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. raised its holdings in 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 raised its holdings in 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. Los Angeles Capital Management & Equity Research Inc. bought a new position in Cheesecake Factory in the first quarter worth $251,000. Finally, Kayne Anderson Rudnick Investment Management LLC raised its holdings in Cheesecake Factory by 6.4% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,701,345 shares of the restaurant operator’s stock worth $132,150,000 after purchasing an additional 163,232 shares in the last quarter. Institutional investors own 98.26% of the company’s stock.

About Cheesecake Factory (NASDAQ:CAKE)

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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