Robert W. Baird Issues Positive Forecast for Cheesecake Factory (NASDAQ:CAKE) Stock Price

Cheesecake Factory (NASDAQ:CAKE) had its price objective hoisted by equities researchers at Robert W. Baird from $52.00 to $57.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the restaurant operator’s stock. Robert W. Baird’s price objective would suggest a potential upside of 4.99% from the stock’s current price.

A number of other analysts have also weighed in on the company. Raymond James upped their target price on Cheesecake Factory from $51.00 to $56.00 and gave the stock an “outperform” rating in a report on Monday, December 16th. Wedbush upped their price objective on Cheesecake Factory from $52.00 to $59.00 and gave the stock an “outperform” rating in a research note on Thursday, November 14th. 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. Jefferies Financial Group increased their price target on shares of Cheesecake Factory from $49.00 to $58.00 and gave the company a “buy” rating in a research report on Monday, December 16th. Finally, Barclays lifted their price objective on shares of Cheesecake Factory from $38.00 to $44.00 and gave the stock an “underweight” rating in a research report on Wednesday, October 30th. Three investment 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. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $51.33.

Cheesecake Factory Stock Performance

Shares of Cheesecake Factory stock opened at $54.29 on Thursday. The company has a current ratio of 0.44, a quick ratio of 0.33 and a debt-to-equity ratio of 1.19. The stock’s fifty day moving average price is $50.96 and its 200-day moving average price is $45.25. The firm has a market cap of $2.77 billion, a P/E ratio of 20.64, a P/E/G ratio of 1.28 and a beta of 1.51. Cheesecake Factory has a 12 month low of $33.05 and a 12 month high of $57.32.

Cheesecake Factory (NASDAQ:CAKE) last posted its earnings results on Wednesday, February 19th. The restaurant operator reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $0.91 by $0.13. Cheesecake Factory had a net margin of 3.63% and a return on equity of 43.90%. On average, equities research analysts expect that Cheesecake Factory will post 3.32 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of CAKE. Lido Advisors LLC lifted its holdings in shares of Cheesecake Factory by 2.0% during the fourth quarter. Lido Advisors LLC now owns 10,805 shares of the restaurant operator’s stock worth $513,000 after purchasing an additional 215 shares during the period. Summit Investment Advisors Inc. raised its position in Cheesecake Factory by 4.7% during the 4th quarter. Summit Investment Advisors Inc. now owns 5,051 shares of the restaurant operator’s stock worth $240,000 after buying an additional 228 shares during the last quarter. Truist Financial Corp lifted its stake in Cheesecake Factory by 3.3% during the 4th quarter. Truist Financial Corp now owns 8,045 shares of the restaurant operator’s stock valued at $382,000 after acquiring an additional 257 shares during the period. Blair William & Co. IL boosted its holdings in shares of Cheesecake Factory by 5.2% in the 4th quarter. Blair William & Co. IL now owns 5,772 shares of the restaurant operator’s stock valued at $274,000 after acquiring an additional 283 shares during the last quarter. Finally, Versant Capital Management Inc increased its stake in shares of Cheesecake Factory by 108.1% in the fourth quarter. Versant Capital Management Inc now owns 616 shares of the restaurant operator’s stock worth $29,000 after acquiring an additional 320 shares during the period. 94.48% of the stock is owned by institutional investors and hedge funds.

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.