Cheesecake Factory (NASDAQ:CAKE) Given New $70.00 Price Target at Mizuho

Cheesecake Factory (NASDAQ:CAKE) had its target price lifted by Mizuho from $65.00 to $70.00 in a report issued on Thursday morning,Benzinga reports. The brokerage currently has an outperform rating on the restaurant operator’s stock.

Several other equities research analysts also recently issued reports on the company. Jefferies Financial Group set a $70.00 target price on Cheesecake Factory and gave the stock a “buy” rating in a research report on Wednesday, October 29th. Wells Fargo & Company decreased their price objective on Cheesecake Factory from $60.00 to $55.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 29th. Argus dropped their price objective on Cheesecake Factory from $72.00 to $55.00 and set a “buy” rating on the stock in a report on Friday, November 7th. Citigroup lifted their target price on Cheesecake Factory from $65.00 to $72.00 and gave the company a “buy” rating in a report on Monday. Finally, Bank of America lowered their price target on shares of Cheesecake Factory from $61.00 to $56.00 and set a “neutral” rating on the stock in a report on Wednesday, October 29th. Eight analysts have rated the stock with a Buy rating, seven have issued a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $60.12.

Cheesecake Factory Trading Down 4.7%

Shares of Cheesecake Factory stock opened at $58.69 on Thursday. The stock has a market capitalization of $2.93 billion, a P/E ratio of 17.78, a P/E/G ratio of 1.56 and a beta of 1.02. Cheesecake Factory has a 52-week low of $42.69 and a 52-week high of $69.70. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.47 and a current ratio of 0.55. The stock’s 50-day simple moving average is $55.42 and its 200 day simple moving average is $55.21.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of CAKE. Parkside Financial Bank & Trust lifted its holdings in shares of Cheesecake Factory by 39.2% in the 2nd quarter. Parkside Financial Bank & Trust now owns 632 shares of the restaurant operator’s stock worth $40,000 after acquiring an additional 178 shares during the last quarter. Truist Financial Corp lifted its stake in Cheesecake Factory by 3.0% in the fourth quarter. Truist Financial Corp now owns 6,187 shares of the restaurant operator’s stock worth $312,000 after purchasing an additional 181 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its position in Cheesecake Factory by 1.9% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 10,487 shares of the restaurant operator’s stock valued at $529,000 after buying an additional 200 shares during the period. California State Teachers Retirement System grew its stake in shares of Cheesecake Factory by 0.5% during the second quarter. California State Teachers Retirement System now owns 44,527 shares of the restaurant operator’s stock valued at $2,790,000 after buying an additional 203 shares during the last quarter. Finally, Arizona State Retirement System increased its holdings in shares of Cheesecake Factory by 1.6% in the third quarter. Arizona State Retirement System now owns 13,918 shares of the restaurant operator’s stock worth $760,000 after buying an additional 214 shares during the period. 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.