The Cheesecake Factory Incorporated (NASDAQ:CAKE) Given Average Recommendation of “Hold” by Brokerages

The Cheesecake Factory Incorporated (NASDAQ:CAKE) has received an average recommendation of “Hold” from the nineteen ratings firms that are currently covering the stock, Marketbeat reports. Four analysts have rated the stock with a sell rating, five have given a hold rating and ten have issued a buy rating on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $59.1765.

Several research analysts recently issued reports on the stock. Wells Fargo & Company dropped their price target on shares of Cheesecake Factory from $60.00 to $55.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 29th. Bank of America dropped their target price on Cheesecake Factory from $61.00 to $56.00 and set a “neutral” rating for the company in a report on Wednesday, October 29th. Piper Sandler raised their target price on Cheesecake Factory from $54.00 to $62.00 and gave the stock a “neutral” rating in a research report on Monday, August 4th. Raymond James Financial reaffirmed an “outperform” rating and issued a $60.00 price target (down previously from $70.00) on shares of Cheesecake Factory in a research note on Wednesday, October 29th. Finally, Morgan Stanley set a $49.00 price objective on Cheesecake Factory in a research note on Wednesday, October 29th.

Cheesecake Factory Stock Down 0.2%

Shares of CAKE stock opened at $47.66 on Friday. Cheesecake Factory has a one year low of $42.69 and a one year high of $69.70. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.51 and a quick ratio of 0.42. The stock has a fifty day moving average price of $50.96 and a 200 day moving average price of $56.99. The stock has a market cap of $2.38 billion, a P/E ratio of 14.44, a price-to-earnings-growth ratio of 1.21 and a beta of 1.08.

Cheesecake Factory (NASDAQ:CAKE) last announced its quarterly earnings data on Tuesday, October 28th. The restaurant operator reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.08. The company had revenue of $907.23 million during the quarter, compared to analysts’ expectations of $912.95 million. Cheesecake Factory had a net margin of 4.33% and a return on equity of 47.25%. The business’s revenue was up 4.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.58 EPS. Analysts predict that Cheesecake Factory will post 3.71 earnings per share for the current year.

Cheesecake Factory Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 25th. Investors of record on Tuesday, November 11th were issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend was Monday, November 10th. Cheesecake Factory’s dividend payout ratio (DPR) is currently 32.73%.

Institutional Trading of Cheesecake Factory

Several hedge funds have recently modified their holdings of CAKE. Wellington Management Group LLP raised its holdings in shares of Cheesecake Factory by 156.7% in the first quarter. Wellington Management Group LLP now owns 3,045,705 shares of the restaurant operator’s stock valued at $148,204,000 after buying an additional 1,859,194 shares during the last quarter. Westwood Holdings Group Inc. bought a new position in shares of Cheesecake Factory in the first quarter worth about $75,795,000. Invesco Ltd. lifted its position in shares of Cheesecake Factory by 83.5% during the first quarter. Invesco Ltd. now owns 2,591,205 shares of the restaurant operator’s stock worth $126,088,000 after purchasing an additional 1,178,722 shares in the last quarter. Driehaus Capital Management LLC bought a new stake in shares of Cheesecake Factory during the first quarter valued at approximately $47,720,000. Finally, Woodline Partners LP increased its holdings in shares of Cheesecake Factory by 1,059.3% in the third quarter. Woodline Partners LP now owns 618,056 shares of the restaurant operator’s stock valued at $33,771,000 after purchasing an additional 564,744 shares in the last quarter. Institutional investors and hedge funds own 94.48% of the company’s stock.

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.