Cheesecake Factory (NASDAQ:CAKE – Get Free Report) had its target price raised by stock analysts at Robert W. Baird from $105.00 to $120.00 in a report released on Thursday, Benzinga reports. The firm presently has a “neutral” rating on the restaurant operator’s stock. Robert W. Baird’s price objective indicates a potential upside of 4.90% from the stock’s current price.
A number of other equities research analysts also recently weighed in on CAKE. UBS Group lifted their price objective on Cheesecake Factory from $53.00 to $60.00 and gave the company a “sell” rating in a report on Thursday, July 23rd. Citigroup upped their target price on shares of Cheesecake Factory from $104.00 to $128.00 and gave the stock a “buy” rating in a report on Wednesday, October 14th. Oppenheimer lifted their price target on shares of Cheesecake Factory from $101.00 to $122.00 and gave the company an “outperform” rating in a report on Tuesday, October 6th. Morgan Stanley upped their price objective on shares of Cheesecake Factory from $80.00 to $87.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 15th. Finally, Jefferies Financial Group lowered shares of Cheesecake Factory from a “buy” rating to a “hold” rating and raised their price objective for the stock from $75.00 to $88.00 in a report on Wednesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $92.67.
View Our Latest Research Report on Cheesecake Factory
Cheesecake Factory Trading Down 1.8%
Shares of CAKE stock opened at $114.39 on Thursday. Cheesecake Factory has a 52-week low of $43.07 and a 52-week high of $118.63. The stock has a market cap of $5.69 billion, a price-to-earnings ratio of 31.00, a P/E/G ratio of 1.87 and a beta of 1.04. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.52 and a current ratio of 0.59. The firm has a fifty day moving average of $107.82 and a 200-day moving average of $85.87.
Cheesecake Factory (NASDAQ:CAKE – Get Free Report) last issued its earnings results on Tuesday, July 28th. The restaurant operator reported $1.44 earnings per share for the quarter, beating the consensus estimate of $1.18 by $0.26. The business had revenue of $1.03 billion for the quarter, compared to analyst estimates of $999.54 million. Cheesecake Factory had a net margin of 4.61% and a return on equity of 43.97%. The firm’s revenue was up 7.7% on a year-over-year basis. During the same period in the previous year, the business earned $1.16 EPS. On average, equities research analysts forecast that Cheesecake Factory will post 4.63 earnings per share for the current fiscal year.
Insider Activity at Cheesecake Factory
In other news, President David M. Gordon sold 31,950 shares of the stock in a transaction on Monday, August 10th. The stock was sold at an average price of $110.03, for a total value of $3,515,458.50. Following the transaction, the president owned 26,875 shares of the company’s stock, valued at $2,957,056.25. This represents a 54.31% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman David Overton sold 94,145 shares of the firm’s stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $106.27, for a total value of $10,004,789.15. Following the completion of the transaction, the chairman owned 89,805 shares in the company, valued at $9,543,577.35. This represents a 51.18% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 213,749 shares of company stock valued at $22,301,899 in the last three months. 8.00% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On Cheesecake Factory
A number of institutional investors have recently made changes to their positions in CAKE. Public Employees Retirement System of Ohio bought a new stake in Cheesecake Factory in the 2nd quarter valued at $2,367,000. Oppenheimer Asset Management Inc. acquired a new stake in Cheesecake Factory in the 2nd quarter valued at approximately $2,606,000. Corient Private Wealth LP lifted its stake in Cheesecake Factory by 269.9% in the 2nd quarter. Corient Private Wealth LP now owns 100,951 shares of the restaurant operator’s stock valued at $8,030,000 after acquiring an additional 73,659 shares in the last quarter. Headlands Technologies LLC boosted its position in Cheesecake Factory by 29.7% during the 2nd quarter. Headlands Technologies LLC now owns 42,640 shares of the restaurant operator’s stock worth $3,392,000 after acquiring an additional 9,765 shares during the last quarter. Finally, Lotus Technology Management LP acquired a new position in Cheesecake Factory during the 2nd quarter worth approximately $1,870,000. 94.48% of the stock is owned by institutional investors and hedge funds.
Cheesecake Factory Company Profile
The Cheesecake Factory Incorporated is a restaurant company best known for The Cheesecake Factory, a full-service casual dining brand offering an extensive menu of American and international-inspired dishes, along with a broad selection of cheesecakes and other desserts. The company also operates North Italia, an Italian restaurant concept, and owns Fox Restaurant Concepts, which develops and operates additional restaurant brands, including Flower Child and Culinary Dropout.
The company was founded by David Overton, who opened the first Cheesecake Factory restaurant in Beverly Hills, California, in 1978 after his parents began a cheesecake business.
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