Brokerages Set The Cheesecake Factory Incorporated (NASDAQ:CAKE) Target Price at $61.94

Shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE) have been assigned a consensus recommendation of “Hold” from the seventeen analysts that are presently covering the firm, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating on the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $62.5625.

CAKE has been the topic of a number of analyst reports. Morgan Stanley increased their price target on Cheesecake Factory from $45.00 to $47.00 and gave the company an “underweight” rating in a research note on Thursday, July 31st. Robert W. Baird set a $64.00 price objective on Cheesecake Factory and gave the company a “neutral” rating in a report on Wednesday, July 30th. Barclays raised their target price on Cheesecake Factory from $57.00 to $62.00 and gave the stock an “underweight” rating in a report on Wednesday, July 30th. UBS Group boosted their target price on Cheesecake Factory from $45.00 to $50.00 and gave the stock a “sell” rating in a research report on Friday, July 18th. Finally, Wells Fargo & Company increased their price target on shares of Cheesecake Factory from $60.00 to $65.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 30th.

Insider Buying and Selling at Cheesecake Factory

In related news, President David M. Gordon sold 43,335 shares of the company’s stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $63.06, for a total value of $2,732,705.10. Following the completion of the sale, the president owned 24,532 shares in the company, valued at $1,546,987.92. This represents a 63.85% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Alexander L. Cappello sold 12,388 shares of Cheesecake Factory stock in a transaction dated Thursday, July 31st. The stock was sold at an average price of $65.88, for a total value of $816,121.44. Following the transaction, the director owned 6,806 shares in the company, valued at approximately $448,379.28. This represents a 64.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 8.10% of the company’s stock.

Institutional Investors Weigh In On Cheesecake Factory

A number of hedge funds have recently modified their holdings of the business. Texas Permanent School Fund Corp grew its position in shares of Cheesecake Factory by 1.2% in the 2nd quarter. Texas Permanent School Fund Corp now owns 87,844 shares of the restaurant operator’s stock valued at $5,504,000 after purchasing an additional 1,035 shares during the period. Osaic Holdings Inc. raised its holdings in Cheesecake Factory by 1,041.1% during the 2nd quarter. Osaic Holdings Inc. now owns 28,515 shares of the restaurant operator’s stock worth $1,786,000 after buying an additional 26,016 shares during the period. State of Wyoming lifted its stake in Cheesecake Factory by 25.4% in the second quarter. State of Wyoming now owns 6,879 shares of the restaurant operator’s stock valued at $431,000 after buying an additional 1,395 shares in the last quarter. Wellington Capital Management Inc. acquired a new position in shares of Cheesecake Factory in the second quarter valued at approximately $1,165,000. Finally, Public Sector Pension Investment Board increased its position in shares of Cheesecake Factory by 4.3% during the second quarter. Public Sector Pension Investment Board now owns 155,352 shares of the restaurant operator’s stock worth $9,734,000 after acquiring an additional 6,391 shares in the last quarter. Institutional investors and hedge funds own 94.48% of the company’s stock.

Cheesecake Factory Stock Up 3.2%

Shares of NASDAQ CAKE opened at $53.77 on Friday. Cheesecake Factory has a 1 year low of $38.47 and a 1 year high of $69.70. The firm’s 50-day moving average is $58.49 and its 200-day moving average is $56.84. The company has a current ratio of 0.51, a quick ratio of 0.42 and a debt-to-equity ratio of 1.40. The firm has a market capitalization of $2.68 billion, a PE ratio of 16.54, a price-to-earnings-growth ratio of 1.24 and a beta of 1.06.

Cheesecake Factory (NASDAQ:CAKE) last announced its quarterly earnings data on Tuesday, July 29th. The restaurant operator reported $1.16 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.10. Cheesecake Factory had a net margin of 4.33% and a return on equity of 45.92%. The business had revenue of $955.83 million for the quarter, compared to analyst estimates of $945.82 million. During the same period in the prior year, the business posted $1.09 earnings per share. Cheesecake Factory’s revenue was up 5.7% compared to the same quarter last year. Equities analysts expect that Cheesecake Factory will post 3.71 EPS for the current year.

Cheesecake Factory Company Profile

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.