Cheesecake Factory (NASDAQ:CAKE – Get Free Report) was upgraded by investment analysts at Robert W. Baird to a “hold” rating in a report issued on Monday,Zacks.com reports.
A number of other research analysts have also issued reports on CAKE. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $68.00 price target on shares of Cheesecake Factory in a research note on Thursday, April 30th. Argus lifted their price target on Cheesecake Factory from $72.00 to $110.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Weiss Ratings upgraded Cheesecake Factory from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, August 13th. Citigroup lifted their price objective on shares of Cheesecake Factory from $76.00 to $90.00 and gave the company a “buy” rating in a research note on Friday, July 10th. Finally, Stephens reaffirmed a “positive” rating on shares of Cheesecake Factory in a report on Wednesday, July 29th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Cheesecake Factory currently has a consensus rating of “Hold” and an average target price of $81.00.
View Our Latest Analysis on CAKE
Cheesecake Factory Trading Down 1.0%
Cheesecake Factory (NASDAQ:CAKE – Get Free Report) last posted its quarterly earnings data 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. The firm had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $999.54 million. Cheesecake Factory had a net margin of 4.61% and a return on equity of 43.97%. The company’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.16 earnings per share. On average, research analysts predict that Cheesecake Factory will post 4.47 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other Cheesecake Factory news, Director Janice L. Meyer sold 1,958 shares of Cheesecake Factory stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $109.36, for a total transaction of $214,126.88. Following the transaction, the director directly owned 21,251 shares of the company’s stock, valued at $2,324,009.36. The trade was a 8.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Scarlett May sold 7,978 shares of Cheesecake Factory stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $102.66, for a total transaction of $819,021.48. Following the sale, the executive vice president directly owned 18,241 shares in the company, valued at approximately $1,872,621.06. The trade was a 30.43% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 216,239 shares of company stock worth $22,463,500. 8.00% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On Cheesecake Factory
Several hedge funds have recently bought and sold shares of CAKE. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Cheesecake Factory during the 2nd quarter worth approximately $239,000. California State Teachers Retirement System raised its stake in shares of Cheesecake Factory by 7,444.0% in the second quarter. California State Teachers Retirement System now owns 4,192,633 shares of the restaurant operator’s stock valued at $333,482,000 after acquiring an additional 4,137,057 shares in the last quarter. HB Wealth Management LLC purchased a new position in Cheesecake Factory in the second quarter valued at $205,000. AXQ Capital LP purchased a new position in Cheesecake Factory in the second quarter valued at $313,000. Finally, Nykredit A S acquired a new position in Cheesecake Factory during the 2nd quarter worth $212,000. Institutional investors and hedge funds own 94.48% of the company’s stock.
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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