Cheesecake Factory (NASDAQ:CAKE) Sets New 1-Year High – Here’s What Happened

The Cheesecake Factory Incorporated (NASDAQ:CAKE) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $50.47 and last traded at $50.25, with a volume of 30255 shares trading hands. The stock had previously closed at $46.73.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on CAKE shares. Bank of America raised their price objective on shares of Cheesecake Factory from $47.00 to $49.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Citigroup raised their price target on shares of Cheesecake Factory from $46.00 to $51.00 and gave the company a “buy” rating in a research report on Friday, October 4th. Stephens boosted their price objective on Cheesecake Factory from $50.00 to $51.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Robert W. Baird raised their target price on Cheesecake Factory from $40.00 to $47.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Finally, Barclays upped their price target on Cheesecake Factory from $38.00 to $44.00 and gave the stock an “underweight” rating in a report on Wednesday, October 30th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $44.17.

Cheesecake Factory Stock Performance

The company has a market capitalization of $2.41 billion, a PE ratio of 17.98, a price-to-earnings-growth ratio of 1.25 and a beta of 1.47. 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 business’s fifty day moving average is $40.84 and its two-hundred day moving average is $38.87.

Cheesecake Factory (NASDAQ:CAKE) last announced its quarterly earnings results on Tuesday, October 29th. The restaurant operator reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.11. The firm had revenue of $865.50 million during the quarter, compared to analyst estimates of $866.13 million. Cheesecake Factory had a net margin of 3.63% and a return on equity of 45.66%. The business’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.39 earnings per share. Equities research analysts predict that The Cheesecake Factory Incorporated will post 3.3 earnings per share for the current year.

Cheesecake Factory Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 26th. Stockholders of record on Wednesday, November 13th will be paid a $0.27 dividend. The ex-dividend date is Wednesday, November 13th. This represents a $1.08 annualized dividend and a dividend yield of 2.28%. Cheesecake Factory’s dividend payout ratio (DPR) is 41.06%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC raised its position 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 purchasing an additional 661 shares during the period. GAMMA Investing LLC lifted its position in shares of Cheesecake Factory by 276.4% in the second quarter. GAMMA Investing LLC now owns 1,449 shares of the restaurant operator’s stock worth $57,000 after buying an additional 1,064 shares in the last quarter. nVerses Capital LLC bought a new position in Cheesecake Factory during the second quarter valued at approximately $67,000. SG Americas Securities LLC purchased a new position in Cheesecake Factory during the 1st quarter valued at approximately $121,000. Finally, Avantax Advisory Services Inc. bought a new stake in Cheesecake Factory in the 1st quarter worth approximately $202,000. Institutional investors 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.