Cheesecake Factory (NASDAQ:CAKE) Given New $64.00 Price Target at The Goldman Sachs Group

Cheesecake Factory (NASDAQ:CAKE) had its target price boosted by The Goldman Sachs Group from $56.00 to $64.00 in a research note published on Thursday morning,Benzinga reports. They currently have a buy rating on the restaurant operator’s stock.

Several other brokerages also recently weighed in on CAKE. Raymond James upped their target price on shares of Cheesecake Factory from $51.00 to $56.00 and gave the stock an “outperform” rating in a report on Monday, December 16th. Robert W. Baird upped their price objective on Cheesecake Factory from $40.00 to $47.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Wells Fargo & Company lifted their target price on Cheesecake Factory from $38.00 to $45.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Wedbush upped their price target on Cheesecake Factory from $52.00 to $59.00 and gave the stock an “outperform” rating in a research note on Thursday, November 14th. Finally, UBS Group lifted their price objective on shares of Cheesecake Factory from $36.00 to $41.00 and gave the company a “sell” rating in a research report on Tuesday, January 7th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $49.93.

Cheesecake Factory Price Performance

Shares of NASDAQ:CAKE opened at $55.57 on Thursday. The company has a market capitalization of $2.84 billion, a P/E ratio of 21.13, a P/E/G ratio of 1.35 and a beta of 1.51. Cheesecake Factory has a 1-year low of $33.05 and a 1-year high of $57.32. The firm’s 50 day simple moving average is $50.41 and its two-hundred day simple moving average is $44.22. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.44 and a quick ratio of 0.33.

Institutional Investors Weigh In On Cheesecake Factory

Institutional investors have recently modified their holdings of the stock. Hennessy Advisors Inc. purchased a new stake in Cheesecake Factory during the 4th quarter valued at $63,114,000. Victory Capital Management Inc. raised its stake in shares of Cheesecake Factory by 166.9% in the fourth quarter. Victory Capital Management Inc. now owns 1,076,347 shares of the restaurant operator’s stock valued at $51,062,000 after acquiring an additional 673,076 shares during the period. Edgestream Partners L.P. bought a new stake in shares of Cheesecake Factory in the 4th quarter worth about $3,408,000. State Street Corp boosted its stake in shares of Cheesecake Factory by 3.7% during the 3rd quarter. State Street Corp now owns 1,876,295 shares of the restaurant operator’s stock worth $76,084,000 after purchasing an additional 67,550 shares during the period. Finally, 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 valued at $3,964,000 after purchasing an additional 60,100 shares during the last quarter. 94.48% of the stock is owned by 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.