The Cheesecake Factory Incorporated (NASDAQ:CAKE) had its price target decreased by Canaccord Genuity from $50.00 to $48.00 in a report published on Thursday morning. Canaccord Genuity currently has a hold rating on the restaurant operator’s stock.
Other equities analysts have also recently issued reports about the stock. Robert W. Baird set a $49.00 price target on shares of The Cheesecake Factory and gave the stock a hold rating in a research note on Thursday, August 3rd. Instinet began coverage on shares of The Cheesecake Factory in a research note on Wednesday, July 12th. They set a neutral rating and a $50.00 price target for the company. Barclays PLC reaffirmed an equal weight rating and set a $48.00 price target (down from $53.00) on shares of The Cheesecake Factory in a research note on Thursday, August 3rd. Stephens reaffirmed an equal weight rating and set a $48.00 price target (down from $55.00) on shares of The Cheesecake Factory in a research note on Wednesday, August 9th. Finally, Maxim Group reaffirmed a buy rating and set a $57.00 price target (down from $65.00) on shares of The Cheesecake Factory in a research note on Wednesday, August 9th. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have issued a buy rating to the company. The Cheesecake Factory presently has a consensus rating of Hold and an average price target of $49.24.
Shares of The Cheesecake Factory (NASDAQ:CAKE) traded up $0.14 on Thursday, hitting $43.60. 1,118,232 shares of the stock traded hands, compared to its average volume of 1,582,477. The company has a market cap of $2,042.94, a PE ratio of 15.92, a P/E/G ratio of 1.16 and a beta of 0.29. The Cheesecake Factory has a one year low of $38.34 and a one year high of $67.14.
The Cheesecake Factory (NASDAQ:CAKE) last issued its quarterly earnings results on Wednesday, November 1st. The restaurant operator reported $0.56 earnings per share for the quarter, missing the consensus estimate of $0.60 by ($0.04). The business had revenue of $555.40 million for the quarter, compared to the consensus estimate of $566.09 million. The Cheesecake Factory had a return on equity of 21.65% and a net margin of 5.76%. The Cheesecake Factory’s revenue was down .8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.70 earnings per share. analysts anticipate that The Cheesecake Factory will post 2.61 earnings per share for the current fiscal year.
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The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 28th. Shareholders of record on Wednesday, November 15th will be issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 2.66%. The ex-dividend date is Tuesday, November 14th. The Cheesecake Factory’s dividend payout ratio is 42.80%.
A number of institutional investors have recently made changes to their positions in CAKE. BlackRock Inc. lifted its holdings in The Cheesecake Factory by 21,381.3% during the 1st quarter. BlackRock Inc. now owns 4,842,308 shares of the restaurant operator’s stock valued at $306,812,000 after purchasing an additional 4,819,766 shares during the last quarter. First Trust Advisors LP lifted its holdings in The Cheesecake Factory by 750.5% during the 3rd quarter. First Trust Advisors LP now owns 580,508 shares of the restaurant operator’s stock valued at $24,451,000 after purchasing an additional 512,255 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in The Cheesecake Factory during the 2nd quarter valued at $25,369,000. FMR LLC lifted its holdings in The Cheesecake Factory by 445.8% during the 1st quarter. FMR LLC now owns 545,840 shares of the restaurant operator’s stock valued at $34,584,000 after purchasing an additional 445,840 shares during the last quarter. Finally, Marshall Wace North America L.P. lifted its holdings in The Cheesecake Factory by 1,407.1% during the 2nd quarter. Marshall Wace North America L.P. now owns 393,218 shares of the restaurant operator’s stock valued at $19,661,000 after purchasing an additional 367,127 shares during the last quarter. 97.76% of the stock is owned by institutional investors and hedge funds.
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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