Cheesecake Factory (NASDAQ:CAKE) PT Raised to $35.00

Cheesecake Factory (NASDAQ:CAKE) had its price objective increased by equities research analysts at Barclays from $32.00 to $35.00 in a research report issued on Thursday, Benzinga reports. The firm presently has an “underweight” rating on the restaurant operator’s stock. Barclays‘s target price points to a potential downside of 5.41% from the company’s current price.

A number of other equities analysts also recently issued reports on the stock. Wells Fargo & Company increased their price target on shares of Cheesecake Factory from $36.00 to $38.00 and gave the company an “equal weight” rating in a report on Thursday. Deutsche Bank Aktiengesellschaft increased their price target on shares of Cheesecake Factory from $37.00 to $38.00 and gave the company a “hold” rating in a report on Thursday, May 9th. JPMorgan Chase & Co. increased their price target on shares of Cheesecake Factory from $34.00 to $40.00 and gave the company an “underweight” rating in a report on Tuesday, May 28th. Raymond James raised shares of Cheesecake Factory from a “market perform” rating to an “outperform” rating and set a $42.00 price objective on the stock in a research note on Thursday, May 9th. Finally, Robert W. Baird increased their price objective on shares of Cheesecake Factory from $37.00 to $40.00 and gave the company a “neutral” rating in a research note on Thursday. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Cheesecake Factory has a consensus rating of “Hold” and an average target price of $40.25.

Cheesecake Factory Price Performance

Shares of CAKE traded down $1.89 during trading hours on Thursday, reaching $37.00. The company had a trading volume of 647,741 shares, compared to its average volume of 932,962. The firm has a 50 day simple moving average of $38.73 and a 200-day simple moving average of $36.45. The company has a current ratio of 0.43, a quick ratio of 0.33 and a debt-to-equity ratio of 1.42. The company has a market capitalization of $1.89 billion, a price-to-earnings ratio of 16.97, a PEG ratio of 1.14 and a beta of 1.51. Cheesecake Factory has a 12-month low of $28.58 and a 12-month high of $41.25.

Cheesecake Factory (NASDAQ:CAKE) last announced its quarterly earnings results on Wednesday, July 31st. The restaurant operator reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.09. The business had revenue of $904.04 million during the quarter, compared to the consensus estimate of $909.19 million. Cheesecake Factory had a net margin of 3.07% and a return on equity of 42.15%. The business’s revenue was up 4.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.88 EPS. Research analysts expect that Cheesecake Factory will post 3.17 earnings per share for the current year.

Insiders Place Their Bets

In other Cheesecake Factory news, insider Keith Carango sold 3,785 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $40.10, for a total transaction of $151,778.50. Following the sale, the insider now directly owns 28,072 shares of the company’s stock, valued at approximately $1,125,687.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 8.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Cheesecake Factory

Several hedge funds have recently modified their holdings of the stock. William Blair Investment Management LLC boosted its position in shares of Cheesecake Factory by 0.8% in the first quarter. William Blair Investment Management LLC now owns 758,783 shares of the restaurant operator’s stock worth $27,430,000 after acquiring an additional 6,166 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Cheesecake Factory by 2.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 559,492 shares of the restaurant operator’s stock worth $19,588,000 after acquiring an additional 13,352 shares during the last quarter. Natixis Advisors L.P. boosted its position in shares of Cheesecake Factory by 8.6% in the fourth quarter. Natixis Advisors L.P. now owns 529,375 shares of the restaurant operator’s stock worth $18,533,000 after acquiring an additional 41,907 shares during the last quarter. First Eagle Investment Management LLC raised its holdings in Cheesecake Factory by 4.8% in the first quarter. First Eagle Investment Management LLC now owns 400,099 shares of the restaurant operator’s stock valued at $14,464,000 after buying an additional 18,250 shares during the period. Finally, Norges Bank purchased a new position in Cheesecake Factory in the fourth quarter valued at approximately $11,729,000. 94.48% of the stock is owned by institutional investors and hedge funds.

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.