Cheesecake Factory (NASDAQ:CAKE) Given “Outperform” Rating at Wedbush

Wedbush reiterated their outperform rating on shares of Cheesecake Factory (NASDAQ:CAKEFree Report) in a research report sent to investors on Thursday morning, Benzinga reports. They currently have a $45.00 target price on the restaurant operator’s stock.

CAKE has been the subject of several other research reports. Bank of America upped their price target on Cheesecake Factory from $39.00 to $43.00 and gave the stock a neutral rating in a research note on Wednesday, May 15th. Oppenheimer reiterated a market perform rating on shares of Cheesecake Factory in a research note on Thursday, February 22nd. Barclays cut their price objective on Cheesecake Factory from $33.00 to $32.00 and set an underweight rating for the company in a research report on Thursday, May 9th. JPMorgan Chase & Co. boosted their price objective on Cheesecake Factory from $34.00 to $40.00 and gave the stock an underweight rating in a research report on Tuesday. Finally, Wells Fargo & Company boosted their price objective on Cheesecake Factory from $35.00 to $36.00 and gave the stock an equal weight rating in a research report on Thursday, May 9th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Hold and an average price target of $39.58.

Check Out Our Latest Stock Analysis on CAKE

Cheesecake Factory Stock Performance

Shares of NASDAQ CAKE opened at $38.46 on Thursday. The business’s 50-day moving average price is $35.84 and its two-hundred day moving average price is $34.80. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.43 and a quick ratio of 0.33. Cheesecake Factory has a one year low of $28.58 and a one year high of $41.25. The company has a market capitalization of $1.96 billion, a P/E ratio of 17.64, a price-to-earnings-growth ratio of 1.12 and a beta of 1.48.

Cheesecake Factory (NASDAQ:CAKEGet Free Report) last issued its earnings results on Wednesday, May 8th. The restaurant operator reported $0.73 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.10. Cheesecake Factory had a return on equity of 42.15% and a net margin of 3.07%. The firm had revenue of $891.22 million for the quarter, compared to the consensus estimate of $890.49 million. During the same quarter in the previous year, the company posted $0.61 earnings per share. The business’s quarterly revenue was up 2.9% compared to the same quarter last year. Analysts anticipate that Cheesecake Factory will post 3.13 earnings per share for the current fiscal year.

Cheesecake Factory Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 4th. Stockholders of record on Wednesday, May 22nd will be issued a $0.27 dividend. The ex-dividend date of this dividend is Tuesday, May 21st. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.81%. Cheesecake Factory’s payout ratio is presently 49.54%.

Insider Transactions at Cheesecake Factory

In other news, insider Keith Carango sold 3,785 shares of the stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $40.10, for a total value of $151,778.50. Following the completion of the transaction, the insider now directly owns 28,072 shares of the company’s stock, valued at approximately $1,125,687.20. The sale was disclosed in a legal filing with the SEC, which is available at this link. 8.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Cheesecake Factory

A number of hedge funds have recently modified their holdings of the stock. Norges Bank bought a new stake in Cheesecake Factory during the 4th quarter worth approximately $11,729,000. Sapient Capital LLC bought a new stake in Cheesecake Factory during the 4th quarter worth approximately $6,838,000. Envestnet Asset Management Inc. grew its position in Cheesecake Factory by 46.9% during the 3rd quarter. Envestnet Asset Management Inc. now owns 411,017 shares of the restaurant operator’s stock worth $12,454,000 after acquiring an additional 131,295 shares during the last quarter. IPG Investment Advisors LLC grew its position in Cheesecake Factory by 104.7% during the 4th quarter. IPG Investment Advisors LLC now owns 151,695 shares of the restaurant operator’s stock worth $5,311,000 after acquiring an additional 77,575 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC bought a new position in Cheesecake Factory in the 4th quarter valued at $2,532,000. 94.48% of the stock is owned by institutional investors and hedge funds.

Cheesecake Factory Company Profile

(Get Free Report)

The Cheesecake Factory Incorporated operates and licenses restaurants in the United States and Canada. The company operates bakeries that produce cheesecakes and other baked products for its restaurants, international licensees, third-party bakery customers, external foodservice operators, retailers, and distributors.

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Analyst Recommendations for Cheesecake Factory (NASDAQ:CAKE)

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