Cheesecake Factory (NASDAQ:CAKE) Lowered to Neutral at Citigroup

Citigroup cut shares of Cheesecake Factory (NASDAQ:CAKEGet Rating) from a buy rating to a neutral rating in a report issued on Tuesday, The Fly reports.

A number of other equities research analysts also recently issued reports on the stock. The Goldman Sachs Group downgraded shares of Cheesecake Factory from a neutral rating to a sell rating and cut their target price for the stock from $35.00 to $29.00 in a research report on Monday, December 12th. Wedbush downgraded shares of Cheesecake Factory from an outperform rating to a neutral rating and cut their target price for the stock from $37.00 to $35.00 in a research report on Friday, December 2nd. Barclays cut their target price on shares of Cheesecake Factory from $31.00 to $28.00 and set an underweight rating for the company in a research report on Thursday, January 5th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Cheesecake Factory from $31.00 to $36.00 and gave the company a hold rating in a report on Wednesday, November 2nd. Finally, Stephens assumed coverage on shares of Cheesecake Factory in a report on Thursday, September 22nd. They set an overweight rating and a $38.00 price target on the stock. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of Hold and an average target price of $33.90.

Cheesecake Factory Stock Down 1.7 %

Shares of NASDAQ:CAKE 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 company has a market cap of $1.95 billion, a PE ratio of 40.30, a price-to-earnings-growth ratio of 2.61 and a beta of 1.36. Cheesecake Factory has a 52 week low of $26.05 and a 52 week high of $44.65. The firm has a 50 day simple moving average of $34.52 and a 200 day simple moving average of $32.26.

Cheesecake Factory (NASDAQ:CAKEGet Rating) last issued its quarterly earnings results on Tuesday, November 1st. The restaurant operator reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.28 by ($0.31). Cheesecake Factory had a net margin of 1.52% and a return on equity of 21.50%. The firm had revenue of $784.00 million during the quarter, compared to analysts’ expectations of $799.33 million. As a group, research analysts expect that Cheesecake Factory will post 1.54 earnings per share for the current year.

Cheesecake Factory Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, November 28th. Investors of record on Tuesday, November 15th were paid a $0.27 dividend. The ex-dividend date of this dividend was Monday, November 14th. This represents a $1.08 dividend on an annualized basis and a yield of 2.85%. Cheesecake Factory’s payout ratio is presently 114.89%.

Insider Activity at Cheesecake Factory

In other news, Director Edie A. Ames bought 4,000 shares of the stock in a transaction that occurred on Thursday, December 8th. The shares were acquired at an average cost of $32.25 per share, for a total transaction of $129,000.00. Following the purchase, the director now owns 12,500 shares of the company’s stock, valued at approximately $403,125. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 8.20% of the stock is currently owned by company insiders.

Institutional Trading of Cheesecake Factory

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Eagle Bay Advisors LLC acquired a new stake in Cheesecake Factory in the 3rd quarter worth $29,000. Teachers Retirement System of The State of Kentucky acquired a new stake in shares of Cheesecake Factory during the 3rd quarter valued at about $369,000. Capital Impact Advisors LLC boosted its position in shares of Cheesecake Factory by 8.1% during the 3rd quarter. Capital Impact Advisors LLC now owns 18,378 shares of the restaurant operator’s stock valued at $689,000 after acquiring an additional 1,378 shares in the last quarter. River & Mercantile Asset Management LLP boosted its position in shares of Cheesecake Factory by 26.5% during the 3rd quarter. River & Mercantile Asset Management LLP now owns 38,830 shares of the restaurant operator’s stock valued at $1,137,000 after acquiring an additional 8,130 shares in the last quarter. Finally, State Street Corp boosted its position in shares of Cheesecake Factory by 0.7% during the 3rd quarter. State Street Corp now owns 1,751,453 shares of the restaurant operator’s stock valued at $51,283,000 after acquiring an additional 12,578 shares in the last quarter. 88.67% of the stock is currently owned by institutional investors and hedge funds.

About Cheesecake Factory

(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. 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.

Featured Articles

The Fly logo

Analyst Recommendations for Cheesecake Factory (NASDAQ:CAKE)

Receive News & Ratings for Cheesecake Factory Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cheesecake Factory and related companies with MarketBeat.com's FREE daily email newsletter.