Cheesecake Factory (NASDAQ:CAKE) Share Price Crosses Above Two Hundred Day Moving Average – What’s Next?

The Cheesecake Factory Incorporated (NASDAQ:CAKE)’s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $55.88 and traded as high as $57.68. Cheesecake Factory shares last traded at $56.99, with a volume of 1,196,463 shares trading hands.

Analyst Ratings Changes

CAKE has been the topic of a number of research reports. Raymond James Financial reissued an “outperform” rating and set a $60.00 price target (down previously from $70.00) on shares of Cheesecake Factory in a report on Wednesday, October 29th. Oppenheimer set a $70.00 price objective on Cheesecake Factory in a research report on Wednesday, October 29th. Mizuho set a $65.00 target price on Cheesecake Factory and gave the company an “outperform” rating in a report on Wednesday, October 29th. Morgan Stanley set a $49.00 price target on Cheesecake Factory in a research note on Wednesday, October 29th. Finally, JPMorgan Chase & Co. decreased their price target on Cheesecake Factory from $57.00 to $52.00 and set an “underweight” rating for the company in a report on Thursday, October 30th. Ten equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $59.35.

Cheesecake Factory Price Performance

The stock has a fifty day moving average of $48.89 and a two-hundred day moving average of $55.88. The stock has a market cap of $2.84 billion, a price-to-earnings ratio of 17.27, a price-to-earnings-growth ratio of 1.50 and a beta of 0.97. The company has a quick ratio of 0.47, a current ratio of 0.55 and a debt-to-equity ratio of 1.32.

Cheesecake Factory (NASDAQ:CAKE) last released its earnings results on Tuesday, October 28th. The restaurant operator reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.08. Cheesecake Factory had a return on equity of 46.35% and a net margin of 4.33%.The company had revenue of $907.23 million during the quarter, compared to the consensus estimate of $912.95 million. During the same quarter last year, the company earned $0.58 earnings per share. Cheesecake Factory’s quarterly revenue was up 4.8% compared to the same quarter last year. On average, equities research analysts anticipate that The Cheesecake Factory Incorporated will post 3.71 earnings per share for the current year.

Cheesecake Factory Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 25th. Investors of record on Tuesday, November 11th were issued a dividend of $0.27 per share. The ex-dividend date of this dividend was Monday, November 10th. This represents a $1.08 dividend on an annualized basis and a yield of 1.9%. Cheesecake Factory’s payout ratio is currently 32.73%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in CAKE. GAMMA Investing LLC boosted its stake in shares of Cheesecake Factory by 14.5% during the 4th quarter. GAMMA Investing LLC now owns 1,741 shares of the restaurant operator’s stock worth $88,000 after acquiring an additional 220 shares in the last quarter. Allworth Financial LP increased its stake in Cheesecake Factory by 170.7% in the 3rd quarter. Allworth Financial LP now owns 1,164 shares of the restaurant operator’s stock valued at $64,000 after purchasing an additional 734 shares in the last quarter. CIBC Bancorp USA Inc. purchased a new position in Cheesecake Factory in the 3rd quarter valued at approximately $269,000. Advisory Services Network LLC acquired a new position in Cheesecake Factory during the third quarter worth $163,000. Finally, CANADA LIFE ASSURANCE Co boosted its position in Cheesecake Factory by 2.2% during the third quarter. CANADA LIFE ASSURANCE Co now owns 38,251 shares of the restaurant operator’s stock worth $2,123,000 after purchasing an additional 816 shares in the last quarter. 94.48% of the stock is owned by hedge funds and other institutional investors.

About Cheesecake Factory

The Cheesecake Factory Incorporated (NASDAQ:CAKE) is an American restaurant company and distributor renowned for its full-service casual-dining concept and specialty cheesecakes. Headquartered in Calabasas Hills, California, the company operates more than 200 restaurants under The Cheesecake Factory® brand across the United States, Puerto Rico and select international markets. In addition to sit-down dining, Cheesecake Factory franchised locations offer catering and take-out services, while a separate manufacturing arm supplies branded cheesecakes and desserts to supermarkets, hotels and other foodservice operators.

The origins of the brand trace back to a small cheesecake bakery founded in Detroit in the 1940s.