Cheesecake Factory (NASDAQ:CAKE) Shares Pass Above 200 Day Moving Average – What’s Next?

The Cheesecake Factory Incorporated (NASDAQ:CAKE) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $55.47 and traded as high as $58.74. Cheesecake Factory shares last traded at $57.37, with a volume of 1,097,395 shares.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Wells Fargo & Company reduced their price objective on shares of Cheesecake Factory from $60.00 to $55.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 29th. Citigroup cut their price target on Cheesecake Factory from $68.00 to $65.00 and set a “buy” rating for the company in a research note on Wednesday, October 29th. Bank of America lowered their price objective on Cheesecake Factory from $61.00 to $56.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 29th. Barclays lifted their target price on Cheesecake Factory from $48.00 to $51.00 and gave the company an “underweight” rating in a research note on Wednesday, January 7th. Finally, Oppenheimer set a $70.00 price objective on shares of Cheesecake Factory in a report on Wednesday, October 29th. Eight research analysts have rated the stock with a Buy rating, seven have given a Hold rating and four have given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $59.41.

Cheesecake Factory Stock Down 2.6%

The company has a quick ratio of 0.47, a current ratio of 0.55 and a debt-to-equity ratio of 1.32. The company has a 50 day simple moving average of $51.86 and a two-hundred day simple moving average of $55.47. The company has a market capitalization of $2.86 billion, a P/E ratio of 17.38, a PEG ratio of 1.58 and a beta of 0.97.

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

Hedge Funds Weigh In On Cheesecake Factory

Hedge funds have recently added to or reduced their stakes in the company. State of Alaska Department of Revenue raised its position in Cheesecake Factory by 1.3% in the 4th quarter. State of Alaska Department of Revenue now owns 23,348 shares of the restaurant operator’s stock worth $1,178,000 after purchasing an additional 289 shares during the period. Delphi Management Inc. MA grew its stake in shares of Cheesecake Factory by 29.7% during the fourth quarter. Delphi Management Inc. MA now owns 29,586 shares of the restaurant operator’s stock valued at $1,494,000 after buying an additional 6,779 shares during the last quarter. Harbor Capital Advisors Inc. raised its holdings in shares of Cheesecake Factory by 5.6% in the fourth quarter. Harbor Capital Advisors Inc. now owns 11,590 shares of the restaurant operator’s stock worth $585,000 after buying an additional 618 shares during the period. White Wing Wealth Management raised its holdings in shares of Cheesecake Factory by 17.4% in the fourth quarter. White Wing Wealth Management now owns 9,084 shares of the restaurant operator’s stock worth $459,000 after buying an additional 1,345 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its stake in shares of Cheesecake Factory by 183.6% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 133,921 shares of the restaurant operator’s stock worth $7,072,000 after acquiring an additional 86,705 shares during the last quarter. 94.48% of the stock is currently owned by institutional investors.

Cheesecake Factory Company Profile

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.