Cheesecake Factory (NASDAQ:CAKE) Earns “Outperform” Rating from Raymond James Financial

Cheesecake Factory (NASDAQ:CAKE)‘s stock had its “outperform” rating restated by equities research analysts at Raymond James Financial in a research note issued on Wednesday,Benzinga reports. They presently have a $60.00 price objective on the restaurant operator’s stock, down from their prior price objective of $70.00. Raymond James Financial’s price objective points to a potential upside of 22.17% from the stock’s previous close.

Other analysts have also recently issued reports about the company. Piper Sandler lifted their price target on Cheesecake Factory from $54.00 to $62.00 and gave the stock a “neutral” rating in a report on Monday, August 4th. Stephens dropped their price target on Cheesecake Factory from $70.00 to $64.00 and set an “overweight” rating for the company in a report on Wednesday. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $67.00 price objective (up from $66.00) on shares of Cheesecake Factory in a report on Thursday, July 10th. Robert W. Baird set a $57.00 price objective on Cheesecake Factory in a report on Wednesday. Finally, Oppenheimer set a $70.00 price objective on Cheesecake Factory in a report on Wednesday. Nine equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat.com, Cheesecake Factory has an average rating of “Hold” and an average price target of $59.47.

Cheesecake Factory Stock Down 2.5%

CAKE stock opened at $49.11 on Wednesday. The company has a quick ratio of 0.42, a current ratio of 0.51 and a debt-to-equity ratio of 1.40. The business has a 50 day moving average price of $56.40 and a two-hundred day moving average price of $57.43. The company has a market cap of $2.45 billion, a price-to-earnings ratio of 14.88, a P/E/G ratio of 1.21 and a beta of 1.06. Cheesecake Factory has a twelve month low of $42.69 and a twelve month high of $69.70.

Cheesecake Factory (NASDAQ:CAKE) last posted its quarterly earnings results on Tuesday, October 28th. The restaurant operator reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.08. The firm had revenue of $907.23 million during the quarter, compared to the consensus estimate of $912.95 million. Cheesecake Factory had a return on equity of 47.25% and a net margin of 4.33%.The business’s revenue was up 4.8% compared to the same quarter last year. During the same period last year, the company earned $0.58 earnings per share. Analysts anticipate that Cheesecake Factory will post 3.71 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, President David M. Gordon sold 43,335 shares of the business’s stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $63.06, for a total transaction of $2,732,705.10. Following the sale, the president owned 24,532 shares in the company, valued at $1,546,987.92. The trade was a 63.85% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 8.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Cheesecake Factory

Hedge funds and other institutional investors have recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC grew its position in shares of Cheesecake Factory by 5.9% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 7,465 shares of the restaurant operator’s stock valued at $363,000 after buying an additional 416 shares during the last quarter. Janney Montgomery Scott LLC grew its position in shares of Cheesecake Factory by 16.7% in the 1st quarter. Janney Montgomery Scott LLC now owns 6,645 shares of the restaurant operator’s stock valued at $323,000 after buying an additional 951 shares during the last quarter. Golden State Wealth Management LLC grew its position in shares of Cheesecake Factory by 100.0% in the 1st quarter. Golden State Wealth Management LLC now owns 1,060 shares of the restaurant operator’s stock valued at $52,000 after buying an additional 530 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new stake in shares of Cheesecake Factory in the 1st quarter valued at about $5,559,000. Finally, Teacher Retirement System of Texas bought a new stake in shares of Cheesecake Factory in the 1st quarter valued at about $345,000. Institutional investors own 94.48% of the company’s stock.

About Cheesecake Factory

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.