Cheesecake Factory (NASDAQ:CAKE) Price Target Lowered to $36.00 at Morgan Stanley

Cheesecake Factory (NASDAQ:CAKEGet Rating) had its price target decreased by Morgan Stanley from $39.00 to $36.00 in a report published on Thursday, The Fly reports. Morgan Stanley currently has an underweight rating on the restaurant operator’s stock.

A number of other research firms have also weighed in on CAKE. Wedbush increased their target price on Cheesecake Factory from $49.00 to $52.00 and gave the stock an outperform rating in a research note on Thursday, February 17th. StockNews.com started coverage on Cheesecake Factory in a research note on Thursday, March 31st. They issued a hold rating on the stock. Piper Sandler lowered Cheesecake Factory from an overweight rating to a neutral rating and reduced their target price for the stock from $65.00 to $44.00 in a research note on Monday, January 3rd. Stephens increased their target price on Cheesecake Factory from $47.00 to $52.00 and gave the stock an overweight rating in a research note on Thursday, February 17th. Finally, Barclays reduced their target price on Cheesecake Factory from $40.00 to $37.00 and set an underweight rating on the stock in a research note on Wednesday, December 15th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, Cheesecake Factory currently has a consensus rating of Hold and a consensus price target of $51.36.

Shares of CAKE opened at $36.77 on Thursday. The company has a market cap of $1.94 billion, a PE ratio of 36.05, a P/E/G ratio of 1.51 and a beta of 1.47. The business has a fifty day moving average of $38.51 and a 200 day moving average of $40.12. Cheesecake Factory has a 52-week low of $31.43 and a 52-week high of $65.81. The company has a quick ratio of 0.57, a current ratio of 0.64 and a debt-to-equity ratio of 1.41.

Cheesecake Factory (NASDAQ:CAKEGet Rating) last issued its quarterly earnings results on Wednesday, February 16th. The restaurant operator reported $0.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.10). The company had revenue of $776.69 million during the quarter, compared to the consensus estimate of $774.52 million. Cheesecake Factory had a return on equity of 37.60% and a net margin of 2.47%. The firm’s quarterly revenue was up 40.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.32) earnings per share. As a group, research analysts anticipate that Cheesecake Factory will post 2.96 earnings per share for the current fiscal year.

Hedge funds have recently modified their holdings of the company. Spire Wealth Management grew its stake in shares of Cheesecake Factory by 1,743.2% during the fourth quarter. Spire Wealth Management now owns 682 shares of the restaurant operator’s stock worth $27,000 after acquiring an additional 645 shares during the last quarter. Eagle Bay Advisors LLC grew its stake in shares of Cheesecake Factory by 97,000.0% during the third quarter. Eagle Bay Advisors LLC now owns 971 shares of the restaurant operator’s stock worth $46,000 after acquiring an additional 970 shares during the last quarter. Neo Ivy Capital Management purchased a new stake in shares of Cheesecake Factory during the fourth quarter worth about $44,000. Advisors Asset Management Inc. boosted its position in Cheesecake Factory by 30.1% in the fourth quarter. Advisors Asset Management Inc. now owns 1,365 shares of the restaurant operator’s stock valued at $53,000 after buying an additional 316 shares during the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC boosted its position in Cheesecake Factory by 271.4% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,883 shares of the restaurant operator’s stock valued at $74,000 after buying an additional 1,376 shares during the last quarter. Institutional investors and hedge funds own 85.28% of the company’s stock.

Cheesecake Factory Company Profile (Get Rating)

The Cheesecake Factory Incorporated operates restaurants. It operates two bakeries that produces cheesecakes and other baked products for its restaurants, international licensees, third-party bakery customers, external foodservice operators, retailers, and distributors. The company owns and operates 306 restaurants throughout the United States and Canada under brands, including 208 The Cheesecake Factory and 29 North Italia; and a collection of Fox Restaurant Concepts, as well as 29 The Cheesecake Factory restaurants under licensing agreements internationally.

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