Cheesecake Factory (NASDAQ:CAKE) PT Raised to $38.00 at Barclays

Cheesecake Factory (NASDAQ:CAKE) had its price objective upped by Barclays from $35.00 to $38.00 in a report issued on Tuesday morning, Benzinga reports. They currently have an underweight rating on the restaurant operator’s stock.

CAKE has been the subject of a number of other research reports. Stephens reiterated an “overweight” rating and set a $50.00 price target on shares of Cheesecake Factory in a research note on Tuesday. Citigroup boosted their target price on Cheesecake Factory from $46.00 to $51.00 and gave the stock a “buy” rating in a research note on Friday, October 4th. Wells Fargo & Company increased their price target on Cheesecake Factory from $36.00 to $38.00 and gave the company an “equal weight” rating in a research report on Thursday, August 1st. Wedbush reissued an “outperform” rating and issued a $45.00 price objective on shares of Cheesecake Factory in a research report on Tuesday. Finally, Robert W. Baird upped their price objective on Cheesecake Factory from $37.00 to $40.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Three equities research 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’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $41.67.

Cheesecake Factory Price Performance

CAKE stock opened at $42.04 on Tuesday. The company has a market capitalization of $2.14 billion, a P/E ratio of 19.28, a price-to-earnings-growth ratio of 1.13 and a beta of 1.49. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.32 and a current ratio of 0.43. Cheesecake Factory has a 52-week low of $29.27 and a 52-week high of $43.51. The business has a 50-day simple moving average of $39.66 and a two-hundred day simple moving average of $38.12.

Cheesecake Factory (NASDAQ:CAKE) last released 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 return on equity of 43.62% and a net margin of 3.32%. The company’s quarterly revenue was up 4.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.88 EPS. Research analysts expect that Cheesecake Factory will post 3.21 EPS for the current fiscal year.

Cheesecake Factory Announces Dividend

The business 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. This represents a $1.08 dividend on an annualized basis and a yield of 2.57%. The ex-dividend date of this dividend was Wednesday, August 14th. Cheesecake Factory’s payout ratio is 49.54%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Arizona State Retirement System boosted its stake in Cheesecake Factory by 2.5% in the second quarter. Arizona State Retirement System now owns 13,593 shares of the restaurant operator’s stock valued at $534,000 after acquiring an additional 337 shares during the last quarter. Louisiana State Employees Retirement System lifted its stake in shares of Cheesecake Factory by 2.2% during the 2nd quarter. Louisiana State Employees Retirement System now owns 23,600 shares of the restaurant operator’s stock valued at $927,000 after buying an additional 500 shares in the last quarter. ProShare Advisors LLC lifted its stake in shares of Cheesecake Factory by 5.9% during the 1st quarter. ProShare Advisors LLC now owns 9,608 shares of the restaurant operator’s stock valued at $347,000 after buying an additional 537 shares in the last quarter. Texas Permanent School Fund Corp lifted its stake in shares of Cheesecake Factory by 1.4% during the 1st quarter. Texas Permanent School Fund Corp now owns 40,881 shares of the restaurant operator’s stock valued at $1,478,000 after buying an additional 547 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its stake in shares of Cheesecake Factory by 2,360.7% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 689 shares of the restaurant operator’s stock valued at $25,000 after buying an additional 661 shares in the last quarter. 94.48% of the stock is currently owned by hedge funds and other institutional investors.

About Cheesecake Factory

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.