The Cheesecake Factory’s (CAKE) “Neutral” Rating Reaffirmed at Bank of America Corporation

Bank of America Corporation reiterated their neutral rating on shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE) in a research report sent to investors on Wednesday morning. They currently have a $62.00 target price on the restaurant operator’s stock, down from their previous target price of $67.00.

A number of other equities research analysts have also recently issued reports on CAKE. Telsey Advisory Group reduced their price objective on The Cheesecake Factory from $66.00 to $62.00 and set an outperform rating for the company in a report on Wednesday, June 14th. Morgan Stanley restated an equal weight rating and set a $56.00 price objective (down previously from $62.00) on shares of The Cheesecake Factory in a report on Wednesday, June 14th. Wells Fargo & Company restated a market perform rating and set a $55.00 price objective (down previously from $61.50) on shares of The Cheesecake Factory in a report on Wednesday, June 14th. BidaskClub upgraded The Cheesecake Factory from a sell rating to a hold rating in a report on Tuesday, June 13th. Finally, Maxim Group upgraded The Cheesecake Factory from a hold rating to a buy rating and set a $65.00 price objective for the company in a report on Wednesday, June 14th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the company’s stock. The Cheesecake Factory presently has a consensus rating of Hold and a consensus target price of $58.54.

Shares of The Cheesecake Factory (CAKE) opened at 52.74 on Wednesday. The stock’s 50 day moving average price is $59.00 and its 200 day moving average price is $60.89. The company has a market cap of $2.43 billion, a P/E ratio of 18.44 and a beta of 0.29. The Cheesecake Factory has a 1-year low of $46.93 and a 1-year high of $67.14.

The Cheesecake Factory (NASDAQ:CAKE) last issued its quarterly earnings data on Wednesday, May 3rd. The restaurant operator reported $0.72 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.73 by $0.01. The Cheesecake Factory had a return on equity of 23.35% and a net margin of 6.15%. The firm had revenue of $563.43 million for the quarter, compared to the consensus estimate of $565.42 million. Equities research analysts forecast that The Cheesecake Factory will post $2.87 earnings per share for the current year.

WARNING: “The Cheesecake Factory’s (CAKE) “Neutral” Rating Reaffirmed at Bank of America Corporation” was posted by Stock Observer and is owned by of Stock Observer. If you are accessing this article on another domain, it was illegally copied and republished in violation of international trademark & copyright law. The legal version of this article can be accessed at https://www.thestockobserver.com/2017/06/20/the-cheesecake-factorys-cake-neutral-rating-reaffirmed-at-bank-of-america-corporation.html.

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 30th. Investors of record on Wednesday, May 17th were paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 1.82%. The ex-dividend date of this dividend was Monday, May 15th. The Cheesecake Factory’s dividend payout ratio (DPR) is currently 33.68%.

In related news, CFO Doug Benn sold 16,901 shares of the business’s stock in a transaction that occurred on Monday, April 24th. The stock was sold at an average price of $64.02, for a total value of $1,082,002.02. Following the completion of the sale, the chief financial officer now directly owns 70,261 shares in the company, valued at $4,498,109.22. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP Debby R. Zurzolo sold 1,600 shares of the business’s stock in a transaction that occurred on Wednesday, April 5th. The shares were sold at an average price of $63.89, for a total value of $102,224.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 44,351 shares of company stock valued at $2,759,859. 8.50% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Waratah Capital Advisors Ltd. purchased a new position in shares of The Cheesecake Factory during the first quarter valued at approximately $4,628,000. Louisiana State Employees Retirement System increased its position in shares of The Cheesecake Factory by 2.8% in the first quarter. Louisiana State Employees Retirement System now owns 11,200 shares of the restaurant operator’s stock valued at $710,000 after buying an additional 300 shares in the last quarter. Russell Investments Group Ltd. purchased a new position in shares of The Cheesecake Factory during the fourth quarter valued at approximately $6,593,000. Nordea Investment Management AB increased its position in shares of The Cheesecake Factory by 15.5% in the first quarter. Nordea Investment Management AB now owns 25,505 shares of the restaurant operator’s stock valued at $1,616,000 after buying an additional 3,419 shares in the last quarter. Finally, Mutual of America Capital Management LLC increased its position in shares of The Cheesecake Factory by 3.9% in the first quarter. Mutual of America Capital Management LLC now owns 35,790 shares of the restaurant operator’s stock valued at $2,268,000 after buying an additional 1,336 shares in the last quarter. Institutional investors and hedge funds own 97.01% of the company’s stock.

About The Cheesecake Factory

The Cheesecake Factory Incorporated is engaged in the restaurant and bakery business. As of March 2, 2017, the Company operated 208 Company-owned restaurants: 194 under The Cheesecake Factory mark, 13 under the Grand Lux Cafe mark and one under the Rock Sugar Pan Asian Kitchen mark. The Company’s segments include The Cheesecake Factory restaurants, and other.

Receive News & Ratings for The Cheesecake Factory Incorporated Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Cheesecake Factory Incorporated and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply