The Cheesecake Factory Incorporated (CAKE) Receives “Buy” Rating from Wedbush

Wedbush restated their buy rating on shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE) in a research note published on Thursday, July 13th. Wedbush also issued estimates for The Cheesecake Factory’s Q2 2017 earnings at $0.71 EPS, Q3 2017 earnings at $0.65 EPS, Q4 2017 earnings at $0.64 EPS, FY2017 earnings at $2.73 EPS, Q1 2018 earnings at $0.72 EPS, Q2 2018 earnings at $0.79 EPS, Q3 2018 earnings at $0.78 EPS, Q4 2018 earnings at $0.79 EPS and FY2018 earnings at $3.09 EPS.

CAKE has been the topic of a number of other reports. Zacks Investment Research upgraded shares of The Cheesecake Factory from a sell rating to a hold rating in a research report on Tuesday, April 4th. Telsey Advisory Group decreased their target price on shares of The Cheesecake Factory from $66.00 to $62.00 and set an outperform rating on the stock in a report on Wednesday, June 14th. Canaccord Genuity reiterated a hold rating and issued a $60.00 target price on shares of The Cheesecake Factory in a report on Friday, June 16th. Nomura began coverage on shares of The Cheesecake Factory in a report on Wednesday, July 12th. They issued a neutral rating and a $50.00 target price on the stock. Finally, Wells Fargo & Company reiterated a market perform rating and issued a $55.00 target price (down from $61.50) on shares of The Cheesecake Factory in a report on Wednesday, June 14th. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have issued a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average price target of $54.78.

Shares of The Cheesecake Factory (CAKE) traded down 0.31% during mid-day trading on Thursday, hitting $44.80. The stock had a trading volume of 1,090,284 shares. The Cheesecake Factory has a 52-week low of $44.02 and a 52-week high of $67.14. The stock’s 50-day moving average price is $48.76 and its 200-day moving average price is $57.67. The firm has a market cap of $2.06 billion, a PE ratio of 15.67 and a beta of 0.31.

The Cheesecake Factory (NASDAQ:CAKE) last posted its quarterly earnings results on Wednesday, August 2nd. The restaurant operator reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.02. The firm had revenue of $569.87 million for the quarter, compared to analyst estimates of $573.12 million. The Cheesecake Factory had a net margin of 6.10% and a return on equity of 22.92%. The Cheesecake Factory’s quarterly revenue was up 2.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.78 earnings per share. On average, analysts anticipate that The Cheesecake Factory will post $2.67 earnings per share for the current fiscal year.

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The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 29th. Stockholders of record on Wednesday, August 16th will be issued a $0.29 dividend. This is a boost from The Cheesecake Factory’s previous quarterly dividend of $0.24. The ex-dividend date is Monday, August 14th. This represents a $1.16 annualized dividend and a dividend yield of 2.59%. The Cheesecake Factory’s dividend payout ratio is presently 33.68%.

In other news, VP Debby R. Zurzolo sold 6,424 shares of the company’s stock in a transaction on Thursday, June 1st. The shares were sold at an average price of $59.09, for a total value of $379,594.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 8.50% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Comerica Bank boosted its position in shares of The Cheesecake Factory by 6.8% in the fourth quarter. Comerica Bank now owns 25,987 shares of the restaurant operator’s stock valued at $1,570,000 after buying an additional 1,655 shares during the last quarter. FMR LLC bought a new position in shares of The Cheesecake Factory during the fourth quarter valued at about $5,988,000. Guggenheim Capital LLC boosted its position in shares of The Cheesecake Factory by 734.4% in the fourth quarter. Guggenheim Capital LLC now owns 80,215 shares of the restaurant operator’s stock valued at $4,803,000 after buying an additional 70,602 shares during the last quarter. Norges Bank bought a new position in shares of The Cheesecake Factory during the fourth quarter valued at about $23,189,000. Finally, Quadrature Capital Ltd bought a new position in shares of The Cheesecake Factory during the fourth quarter valued at about $280,000. Institutional investors and hedge funds own 96.40% of the company’s stock.

About The Cheesecake Factory

The Cheesecake Factory Incorporated is engaged in the restaurant and bakery business. As of March 2, 2017, the Company operated 208 Company-owned restaurants: 194 under The Cheesecake Factory mark, 13 under the Grand Lux Cafe mark and one under the Rock Sugar Pan Asian Kitchen mark. The Company’s segments include The Cheesecake Factory restaurants, and other.

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