BidaskClub Lowers Cheesecake Factory (NASDAQ:CAKE) to Strong Sell

BidaskClub lowered shares of Cheesecake Factory (NASDAQ:CAKE) from a sell rating to a strong sell rating in a research report report published on Saturday morning, BidAskClub reports.

A number of other brokerages have also recently weighed in on CAKE. TheStreet cut Virtusa from a b- rating to a c+ rating in a research note on Wednesday, May 29th. UBS Group restated a hold rating and set a $7.80 price objective on shares of Deutsche Bank in a research note on Friday, April 26th. Wedbush restated an outperform rating and set a $74.00 price objective on shares of Tempur Sealy International in a research note on Tuesday, June 18th. JPMorgan Chase & Co. restated an overweight rating on shares of in a research note on Friday, June 28th. Finally, ValuEngine cut Zumiez from a hold rating to a sell rating in a research note on Tuesday, July 2nd. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have issued a buy rating to the stock. Cheesecake Factory currently has an average rating of Hold and an average target price of $51.43.

Shares of CAKE stock opened at $43.87 on Friday. Cheesecake Factory has a twelve month low of $41.63 and a twelve month high of $60.19. The stock has a market cap of $1.94 billion, a PE ratio of 18.05, a price-to-earnings-growth ratio of 1.25 and a beta of 0.43. The stock has a fifty day moving average price of $44.04. The company has a quick ratio of 0.26, a current ratio of 0.35 and a debt-to-equity ratio of 1.78.

Cheesecake Factory (NASDAQ:CAKE) last issued its earnings results on Wednesday, May 1st. The restaurant operator reported $0.62 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.02. The business had revenue of $599.48 million during the quarter, compared to analysts’ expectations of $603.03 million. Cheesecake Factory had a return on equity of 19.54% and a net margin of 4.24%. The business’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.56 EPS. Analysts forecast that Cheesecake Factory will post 2.65 EPS for the current fiscal year.

In other news, Director Laurence B. Mindel acquired 1,500 shares of the business’s stock in a transaction dated Monday, May 6th. The shares were acquired at an average cost of $49.64 per share, with a total value of $74,460.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Edie A. Ames acquired 700 shares of the business’s stock in a transaction dated Monday, May 13th. The stock was purchased at an average cost of $47.18 per share, for a total transaction of $33,026.00. Following the completion of the acquisition, the director now directly owns 3,130 shares of the company’s stock, valued at approximately $147,673.40. The disclosure for this purchase can be found here. Insiders have purchased a total of 4,200 shares of company stock worth $202,486 over the last ninety days. 8.50% of the stock is currently owned by corporate insiders.

Several hedge funds have recently made changes to their positions in CAKE. First Trust Advisors LP increased its holdings in shares of Cheesecake Factory by 718.0% in the first quarter. First Trust Advisors LP now owns 719,777 shares of the restaurant operator’s stock valued at $35,211,000 after purchasing an additional 631,789 shares during the period. Norges Bank acquired a new position in shares of Cheesecake Factory in the fourth quarter valued at about $23,493,000. Deutsche Bank AG increased its holdings in shares of Cheesecake Factory by 110.7% in the fourth quarter. Deutsche Bank AG now owns 461,656 shares of the restaurant operator’s stock valued at $20,084,000 after purchasing an additional 242,602 shares during the period. Millennium Management LLC increased its holdings in shares of Cheesecake Factory by 548.6% in the fourth quarter. Millennium Management LLC now owns 250,421 shares of the restaurant operator’s stock valued at $10,896,000 after purchasing an additional 211,810 shares during the period. Finally, Macquarie Group Ltd. increased its holdings in shares of Cheesecake Factory by 9.8% in the fourth quarter. Macquarie Group Ltd. now owns 2,130,536 shares of the restaurant operator’s stock valued at $92,699,000 after purchasing an additional 189,577 shares during the period. 98.26% of the stock is currently owned by institutional investors and hedge funds.

Cheesecake Factory Company Profile

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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Analyst Recommendations for Cheesecake Factory (NASDAQ:CAKE)

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