The Cheesecake Factory Inc. (CAKE) Downgraded to Sell at Stifel Nicolaus
The Cheesecake Factory Inc. (NASDAQ:CAKE) was downgraded by investment analysts at Stifel Nicolaus from a “buy” rating to a “sell” rating in a research note issued on Tuesday. They currently have a $43.00 target price on the stock, down from their previous target price of $65.00. Stifel Nicolaus’ price objective suggests a potential downside of 14.70% from the company’s current price.
CAKE has been the subject of several other reports. Zacks Investment Research cut The Cheesecake Factory from a “buy” rating to a “hold” rating in a report on Tuesday, April 19th. Maxim Group reissued a “buy” rating and set a $57.00 price objective on shares of The Cheesecake Factory in a report on Friday, April 1st. Wells Fargo & Co. reissued a “hold” rating on shares of The Cheesecake Factory in a report on Thursday, March 31st. Guggenheim reissued a “hold” rating on shares of The Cheesecake Factory in a report on Thursday, March 31st. Finally, Vetr raised The Cheesecake Factory from a “buy” rating to a “strong-buy” rating and set a $58.88 price target for the company in a research note on Monday, May 9th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $54.73.
Shares of The Cheesecake Factory (NASDAQ:CAKE) traded up 1.82% during trading on Tuesday, reaching $50.41. 1,120,213 shares of the company traded hands. The Cheesecake Factory has a 12 month low of $44.16 and a 12 month high of $55.37. The stock’s 50 day moving average price is $50.95 and its 200-day moving average price is $50.80. The stock has a market cap of $2.34 billion, a P/E ratio of 20.11 and a beta of 0.35.
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The Cheesecake Factory (NASDAQ:CAKE) last announced its quarterly earnings data on Wednesday, July 27th. The company reported $0.78 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.07. The firm earned $558.86 million during the quarter, compared to analysts’ expectations of $562.96 million. The Cheesecake Factory had a return on equity of 22.04% and a net margin of 5.81%. The company’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.69 EPS. On average, equities research analysts expect that The Cheesecake Factory will post $2.75 EPS for the current fiscal year.
In other The Cheesecake Factory news, CFO Doug Benn sold 6,512 shares of the company’s stock in a transaction that occurred on Monday, July 25th. The stock was sold at an average price of $53.00, for a total transaction of $345,136.00. Following the completion of the transaction, the chief financial officer now owns 51,344 shares of the company’s stock, valued at approximately $2,721,232. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 8.50% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in The Cheesecake Factory by 5.0% in the second quarter. Vanguard Group Inc. now owns 3,344,266 shares of the company’s stock valued at $160,992,000 after buying an additional 159,860 shares during the last quarter. BlackRock Institutional Trust Company N.A. increased its stake in The Cheesecake Factory by 7.9% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 1,607,009 shares of the company’s stock valued at $77,361,000 after buying an additional 117,546 shares during the last quarter. State Street Corp increased its stake in The Cheesecake Factory by 1.3% in the first quarter. State Street Corp now owns 1,511,119 shares of the company’s stock valued at $80,223,000 after buying an additional 19,751 shares during the last quarter. Macquarie Group Ltd. increased its stake in The Cheesecake Factory by 5.3% in the fourth quarter. Macquarie Group Ltd. now owns 1,318,337 shares of the company’s stock valued at $60,789,000 after buying an additional 66,479 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in The Cheesecake Factory by 0.8% in the second quarter. Dimensional Fund Advisors LP now owns 1,233,310 shares of the company’s stock valued at $59,371,000 after buying an additional 9,901 shares during the last quarter. 89.48% of the stock is owned by institutional investors.
About The Cheesecake Factory
The Cheesecake Factory Incorporated is engaged in the restaurant and bakery business. The Company operates approximately 200 Company-owned restaurants, including approximately 190 restaurants under The Cheesecake Factory mark and approximately 10 restaurants under the Grand Lux Cafe mark. The Company’s segments include The Cheesecake Factory restaurants, and other, which includes Grand Lux Cafe, RockSugar Pan Asian Kitchen, bakery and international licensing.
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