Wells Fargo & Co Cuts Cheesecake Factory (CAKE) Price Target to $41.00

Cheesecake Factory (NASDAQ:CAKE) had its price target decreased by Wells Fargo & Co from $45.00 to $41.00 in a research note issued to investors on Tuesday, February 6th, MarketBeat reports. The firm currently has a “market perform” rating on the restaurant operator’s stock. Wells Fargo & Co’s target price would suggest a potential downside of 11.58% from the company’s previous close.

CAKE has been the topic of several other research reports. Maxim Group cut their target price on Cheesecake Factory from $57.00 to $54.00 and set a “buy” rating on the stock in a research note on Thursday, November 2nd. Nomura cut their target price on Cheesecake Factory from $44.00 to $43.00 and set a “neutral” rating on the stock in a research note on Friday, October 27th. Stephens cut their target price on Cheesecake Factory from $48.00 to $45.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 11th. Morgan Stanley dropped their price target on Cheesecake Factory from $48.00 to $44.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 2nd. Finally, BidaskClub raised Cheesecake Factory from a “sell” rating to a “hold” rating in a research report on Friday, January 26th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $49.00.

Cheesecake Factory (NASDAQ CAKE) traded up $1.16 during trading hours on Tuesday, reaching $46.37. The company’s stock had a trading volume of 835,700 shares, compared to its average volume of 1,020,575. Cheesecake Factory has a 1 year low of $38.34 and a 1 year high of $67.14. The company has a quick ratio of 0.37, a current ratio of 0.51 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $2,069.95, a price-to-earnings ratio of 17.24, a price-to-earnings-growth ratio of 1.15 and a beta of 0.33.

A number of institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in Cheesecake Factory by 3.6% in the 2nd quarter. Vanguard Group Inc. now owns 4,171,917 shares of the restaurant operator’s stock valued at $209,847,000 after buying an additional 146,756 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its position in Cheesecake Factory by 54.8% in the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,457,364 shares of the restaurant operator’s stock valued at $103,504,000 after buying an additional 869,579 shares during the last quarter. Bank of New York Mellon Corp raised its position in Cheesecake Factory by 4.5% in the 4th quarter. Bank of New York Mellon Corp now owns 1,729,444 shares of the restaurant operator’s stock valued at $83,324,000 after buying an additional 74,729 shares during the last quarter. State Street Corp raised its position in Cheesecake Factory by 4.3% in the 2nd quarter. State Street Corp now owns 1,526,476 shares of the restaurant operator’s stock valued at $76,779,000 after buying an additional 63,301 shares during the last quarter. Finally, Macquarie Group Ltd. raised its position in Cheesecake Factory by 2.4% in the 4th quarter. Macquarie Group Ltd. now owns 1,488,457 shares of the restaurant operator’s stock valued at $71,714,000 after buying an additional 35,071 shares during the last quarter. 98.71% of the stock is currently owned by institutional investors and hedge funds.

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Cheesecake Factory Company Profile

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.

Analyst Recommendations for Cheesecake Factory (NASDAQ:CAKE)

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