Cheesecake Factory (NASDAQ:CAKE) PT Raised to $36.00 at UBS Group

Cheesecake Factory (NASDAQ:CAKE) had its target price raised by UBS Group from $32.00 to $36.00 in a research note published on Friday morning, Benzinga reports. The brokerage currently has a sell rating on the restaurant operator’s stock.

CAKE has been the subject of a number of other reports. Stephens reiterated an “overweight” rating and issued a $50.00 price objective on shares of Cheesecake Factory in a research report on Tuesday, October 22nd. Wells Fargo & Company lifted their price target on shares of Cheesecake Factory from $36.00 to $38.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 1st. JPMorgan Chase & Co. cut their price objective on shares of Cheesecake Factory from $40.00 to $38.00 and set an “underweight” rating on the stock in a report on Tuesday, August 6th. Bank of America lifted their target price on shares of Cheesecake Factory from $45.00 to $47.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. Finally, Barclays increased their price target on Cheesecake Factory from $35.00 to $38.00 and gave the company an “underweight” rating in a research note on Tuesday, October 22nd. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $41.67.

Cheesecake Factory Price Performance

Shares of CAKE stock opened at $42.04 on Friday. Cheesecake Factory has a 1 year low of $29.27 and a 1 year high of $43.51. The company has a current ratio of 0.43, a quick ratio of 0.32 and a debt-to-equity ratio of 1.26. The firm’s 50 day moving average is $39.66 and its 200-day moving average is $38.17. The firm has a market capitalization of $2.14 billion, a price-to-earnings ratio of 19.28, a PEG ratio of 1.13 and a beta of 1.49.

Cheesecake Factory (NASDAQ:CAKE) last posted its quarterly earnings data on Wednesday, July 31st. The restaurant operator reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.09. The firm had revenue of $904.04 million for the quarter, compared to the consensus estimate of $909.19 million. Cheesecake Factory had a return on equity of 43.62% and a net margin of 3.32%. The business’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.88 EPS. Sell-side analysts forecast that Cheesecake Factory will post 3.21 EPS for the current fiscal year.

Cheesecake Factory Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 27th. Shareholders of record on Wednesday, August 14th were paid a $0.27 dividend. The ex-dividend date of this dividend was Wednesday, August 14th. This represents a $1.08 dividend on an annualized basis and a yield of 2.57%. Cheesecake Factory’s payout ratio is 49.54%.

Institutional Investors Weigh In On Cheesecake Factory

A number of hedge funds have recently modified their holdings of the business. American Century Companies Inc. grew its position in shares of Cheesecake Factory by 31.1% in the 2nd quarter. American Century Companies Inc. now owns 942,694 shares of the restaurant operator’s stock valued at $37,038,000 after purchasing an additional 223,497 shares during the period. JCP Investment Management LLC acquired a new position in shares of Cheesecake Factory in the second quarter valued at approximately $5,149,000. Earnest Partners LLC increased its position in shares of Cheesecake Factory by 2.8% during the second quarter. Earnest Partners LLC now owns 2,831,381 shares of the restaurant operator’s stock worth $111,245,000 after acquiring an additional 76,578 shares in the last quarter. William Blair Investment Management LLC raised its holdings in shares of Cheesecake Factory by 8.0% during the second quarter. William Blair Investment Management LLC now owns 819,328 shares of the restaurant operator’s stock worth $32,191,000 after acquiring an additional 60,545 shares during the period. Finally, AXA S.A. increased its holdings in Cheesecake Factory by 103.1% during the 2nd quarter. AXA S.A. now owns 112,088 shares of the restaurant operator’s stock worth $4,404,000 after purchasing an additional 56,889 shares in the last quarter. Institutional investors and hedge funds own 94.48% of the company’s stock.

Cheesecake Factory Company Profile

The Cheesecake Factory Incorporated operates and licenses restaurants in the United States and Canada. The company operates bakeries that produce cheesecakes and other baked products for its restaurants, international licensees, third-party bakery customers, external foodservice operators, retailers, and distributors.