The Cheesecake Factory Incorporated (NASDAQ:CAKE – Get Free Report) Director Janice Meyer sold 1,958 shares of Cheesecake Factory stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $109.36, for a total transaction of $214,126.88. Following the sale, the director owned 21,251 shares in the company, valued at $2,324,009.36. This represents a 8.44% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
Cheesecake Factory Stock Performance
Shares of CAKE opened at $105.82 on Thursday. The firm has a market cap of $5.27 billion, a price-to-earnings ratio of 28.68, a PEG ratio of 1.90 and a beta of 1.00. The business’s 50 day moving average is $88.92 and its two-hundred day moving average is $70.80. The company has a quick ratio of 0.52, a current ratio of 0.59 and a debt-to-equity ratio of 1.08. The Cheesecake Factory Incorporated has a 52-week low of $43.07 and a 52-week high of $118.46.
Cheesecake Factory (NASDAQ:CAKE – Get Free Report) last posted its quarterly earnings results on Tuesday, July 28th. The restaurant operator reported $1.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.18 by $0.26. Cheesecake Factory had a return on equity of 43.97% and a net margin of 4.61%.The business had revenue of $1.03 billion for the quarter, compared to analyst estimates of $999.54 million. During the same period in the prior year, the company posted $1.16 EPS. The business’s revenue was up 7.7% compared to the same quarter last year. Analysts forecast that The Cheesecake Factory Incorporated will post 4.47 EPS for the current fiscal year.
Cheesecake Factory Announces Dividend
Hedge Funds Weigh In On Cheesecake Factory
Several institutional investors have recently modified their holdings of the business. Salomon & Ludwin LLC increased its stake in Cheesecake Factory by 226.5% during the 4th quarter. Salomon & Ludwin LLC now owns 604 shares of the restaurant operator’s stock worth $33,000 after purchasing an additional 419 shares in the last quarter. Allworth Financial LP bought a new position in Cheesecake Factory in the second quarter valued at approximately $36,000. Global Retirement Partners LLC boosted its holdings in shares of Cheesecake Factory by 661.7% in the fourth quarter. Global Retirement Partners LLC now owns 716 shares of the restaurant operator’s stock valued at $36,000 after buying an additional 622 shares during the period. NFSG Corp increased its position in shares of Cheesecake Factory by 115.8% during the first quarter. NFSG Corp now owns 682 shares of the restaurant operator’s stock worth $37,000 after acquiring an additional 366 shares in the last quarter. Finally, Root Financial Partners LLC increased its position in shares of Cheesecake Factory by 973.2% during the fourth quarter. Root Financial Partners LLC now owns 880 shares of the restaurant operator’s stock worth $44,000 after acquiring an additional 798 shares in the last quarter. Institutional investors own 94.48% of the company’s stock.
Analyst Ratings Changes
A number of analysts have commented on CAKE shares. Argus upped their price objective on shares of Cheesecake Factory from $72.00 to $110.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Wells Fargo & Company boosted their target price on Cheesecake Factory from $65.00 to $75.00 and gave the company an “equal weight” rating in a research note on Thursday, July 16th. Northcoast Research downgraded shares of Cheesecake Factory from a “buy” rating to a “neutral” rating in a research report on Monday, June 15th. Stephens reissued a “positive” rating on shares of Cheesecake Factory in a report on Wednesday, July 29th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $68.00 target price on shares of Cheesecake Factory in a research note on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, ten have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Cheesecake Factory currently has an average rating of “Hold” and a consensus price target of $81.00.
View Our Latest Stock Analysis on CAKE
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.
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