The Cheesecake Factory Incorporated (NASDAQ:CAKE) Receives $49.40 Average Price Target from Analysts

The Cheesecake Factory Incorporated (NASDAQ:CAKE) has been given an average rating of “Hold” by the fifteen ratings firms that are presently covering the company, MarketBeat reports. Three equities research analysts have rated the stock with a sell recommendation, five have given a hold recommendation and seven have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $49.40.

A number of brokerages have issued reports on CAKE. The Goldman Sachs Group initiated coverage on Cheesecake Factory in a research report on Thursday, December 5th. They set a “buy” rating and a $56.00 target price for the company. Raymond James upped their price target on Cheesecake Factory from $51.00 to $56.00 and gave the company an “outperform” rating in a report on Monday, December 16th. Wedbush raised their price target on shares of Cheesecake Factory from $52.00 to $59.00 and gave the stock an “outperform” rating in a research note on Thursday, November 14th. UBS Group increased their target price on Cheesecake Factory from $36.00 to $41.00 and gave the stock a “sell” rating in a report on Tuesday, January 7th. Finally, StockNews.com lowered Cheesecake Factory from a “buy” rating to a “hold” rating in a research note on Thursday, November 28th.

Cheesecake Factory Price Performance

Shares of NASDAQ:CAKE opened at $55.62 on Monday. The company’s fifty day moving average is $50.30 and its two-hundred day moving average is $44.14. The company has a market cap of $2.84 billion, a P/E ratio of 21.15, a price-to-earnings-growth ratio of 1.35 and a beta of 1.51. The company has a quick ratio of 0.33, a current ratio of 0.44 and a debt-to-equity ratio of 1.19. Cheesecake Factory has a 12-month low of $33.05 and a 12-month high of $57.32.

Institutional Trading of Cheesecake Factory

A number of hedge funds and other institutional investors have recently modified their holdings of CAKE. Hennessy Advisors Inc. bought a new position in shares of Cheesecake Factory in the 4th quarter valued at about $63,114,000. Victory Capital Management Inc. lifted its holdings in Cheesecake Factory by 32.7% in the third quarter. Victory Capital Management Inc. now owns 403,271 shares of the restaurant operator’s stock valued at $16,353,000 after buying an additional 99,341 shares during the period. State Street Corp boosted its stake in Cheesecake Factory by 3.7% in the third quarter. State Street Corp now owns 1,876,295 shares of the restaurant operator’s stock valued at $76,084,000 after acquiring an additional 67,550 shares during the last quarter. Fred Alger Management LLC grew its holdings in Cheesecake Factory by 159.6% during the 3rd quarter. Fred Alger Management LLC now owns 97,765 shares of the restaurant operator’s stock worth $3,964,000 after acquiring an additional 60,100 shares during the period. Finally, Proficio Capital Partners LLC bought a new stake in shares of Cheesecake Factory during the 4th quarter valued at $2,356,000. 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.