Several other research firms also recently weighed in on CAKE. Stephens began coverage on Cheesecake Factory in a research note on Thursday, September 22nd. They set an overweight rating and a $38.00 price target on the stock. The Goldman Sachs Group downgraded Cheesecake Factory from a neutral rating to a sell rating and lowered their target price for the stock from $35.00 to $29.00 in a research note on Monday, December 12th. StockNews.com began coverage on Cheesecake Factory in a research note on Wednesday, October 12th. They issued a hold rating on the stock. Citigroup downgraded Cheesecake Factory from a buy rating to a neutral rating in a research note on Tuesday. Finally, Deutsche Bank Aktiengesellschaft upped their target price on Cheesecake Factory from $31.00 to $36.00 and gave the stock a hold rating in a research note on Wednesday, November 2nd. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Cheesecake Factory currently has an average rating of Hold and a consensus target price of $33.90.
Cheesecake Factory Stock Down 1.7 %
Cheesecake Factory stock opened at $37.88 on Tuesday. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.42 and a current ratio of 0.52. The business’s 50-day simple moving average is $34.52 and its two-hundred day simple moving average is $32.26. The company has a market cap of $1.95 billion, a PE ratio of 40.30, a PEG ratio of 2.61 and a beta of 1.36. Cheesecake Factory has a fifty-two week low of $26.05 and a fifty-two week high of $44.65.
Cheesecake Factory Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, November 28th. Shareholders of record on Tuesday, November 15th were issued a dividend of $0.27 per share. The ex-dividend date of this dividend was Monday, November 14th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.85%. Cheesecake Factory’s payout ratio is currently 114.89%.
Insider Buying and Selling at Cheesecake Factory
In other news, Director Edie A. Ames bought 4,000 shares of Cheesecake Factory stock in a transaction on Thursday, December 8th. The stock was acquired at an average price of $32.25 per share, with a total value of $129,000.00. Following the completion of the acquisition, the director now directly owns 12,500 shares of the company’s stock, valued at $403,125. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 8.20% of the company’s stock.
Institutional Investors Weigh In On Cheesecake Factory
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Whittier Trust Co. increased its holdings in shares of Cheesecake Factory by 116.3% in the third quarter. Whittier Trust Co. now owns 930 shares of the restaurant operator’s stock valued at $27,000 after purchasing an additional 500 shares during the last quarter. Eagle Bay Advisors LLC acquired a new stake in shares of Cheesecake Factory in the third quarter valued at approximately $29,000. Quadrant Capital Group LLC increased its holdings in shares of Cheesecake Factory by 463.1% in the third quarter. Quadrant Capital Group LLC now owns 1,329 shares of the restaurant operator’s stock valued at $39,000 after purchasing an additional 1,093 shares during the last quarter. Wipfli Financial Advisors LLC acquired a new stake in shares of Cheesecake Factory in the third quarter valued at approximately $43,000. Finally, Quantbot Technologies LP increased its holdings in shares of Cheesecake Factory by 356.8% in the second quarter. Quantbot Technologies LP now owns 3,965 shares of the restaurant operator’s stock valued at $104,000 after purchasing an additional 3,097 shares during the last quarter. Institutional investors and hedge funds own 88.67% of the company’s stock.
Cheesecake Factory Company Profile
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. As of October 27, 2022, the company owned and operated 312 restaurants in the United States and Canada under brands, including The Cheesecake Factory, 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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