Cheesecake Factory (NASDAQ:CAKE) Stock Price Passes Above 200 Day Moving Average – Time to Sell?

The Cheesecake Factory Incorporated (NASDAQ:CAKE)’s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $55.82 and traded as high as $60.79. Cheesecake Factory shares last traded at $59.31, with a volume of 1,369,164 shares changing hands.

Analyst Ratings Changes

CAKE has been the topic of a number of analyst reports. Stephens lowered their target price on Cheesecake Factory from $70.00 to $64.00 and set an “overweight” rating on the stock in a report on Wednesday, October 29th. Argus decreased their price target on shares of Cheesecake Factory from $72.00 to $55.00 and set a “buy” rating on the stock in a report on Friday, November 7th. Oppenheimer set a $70.00 target price on Cheesecake Factory in a report on Wednesday, October 29th. Robert W. Baird set a $57.00 price target on Cheesecake Factory in a report on Wednesday, October 29th. Finally, Barclays lifted their price objective on shares of Cheesecake Factory from $48.00 to $51.00 and gave the company an “underweight” rating in a research note on Wednesday, January 7th. Nine analysts have rated the stock with a Buy rating, six have given a Hold rating and four have issued a Sell rating to the company. According to MarketBeat.com, Cheesecake Factory has an average rating of “Hold” and an average price target of $59.35.

Cheesecake Factory Stock Performance

The firm has a market capitalization of $2.96 billion, a price-to-earnings ratio of 17.97, a P/E/G ratio of 1.64 and a beta of 0.97. The company has a 50-day moving average price of $50.29 and a 200-day moving average price of $55.82. The company has a quick ratio of 0.47, a current ratio of 0.55 and a debt-to-equity ratio of 1.32.

Cheesecake Factory (NASDAQ:CAKE) last posted its quarterly earnings data on Tuesday, October 28th. The restaurant operator reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.08. The business had revenue of $907.23 million during the quarter, compared to the consensus estimate of $912.95 million. Cheesecake Factory had a net margin of 4.33% and a return on equity of 46.35%. The company’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.58 earnings per share. As a group, equities research analysts forecast that The Cheesecake Factory Incorporated will post 3.71 earnings per share for the current year.

Cheesecake Factory Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 25th. Stockholders of record on Tuesday, November 11th were issued a $0.27 dividend. The ex-dividend date was Monday, November 10th. This represents a $1.08 annualized dividend and a dividend yield of 1.8%. Cheesecake Factory’s dividend payout ratio (DPR) is 32.73%.

Institutional Investors Weigh In On Cheesecake Factory

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Invesco Ltd. boosted its stake in Cheesecake Factory by 24.7% during the 3rd quarter. Invesco Ltd. now owns 2,057,118 shares of the restaurant operator’s stock valued at $112,401,000 after purchasing an additional 407,223 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of Cheesecake Factory by 5.6% in the third quarter. American Century Companies Inc. now owns 1,800,388 shares of the restaurant operator’s stock valued at $98,373,000 after buying an additional 96,074 shares during the period. Dimensional Fund Advisors LP boosted its stake in Cheesecake Factory by 2.4% during the third quarter. Dimensional Fund Advisors LP now owns 1,207,196 shares of the restaurant operator’s stock valued at $65,965,000 after buying an additional 28,361 shares in the last quarter. Voloridge Investment Management LLC grew its holdings in Cheesecake Factory by 54.0% during the third quarter. Voloridge Investment Management LLC now owns 747,046 shares of the restaurant operator’s stock worth $40,819,000 after acquiring an additional 262,081 shares during the period. Finally, Woodline Partners LP raised its position in Cheesecake Factory by 1,059.3% in the third quarter. Woodline Partners LP now owns 618,056 shares of the restaurant operator’s stock worth $33,771,000 after acquiring an additional 564,744 shares in the last quarter. Institutional investors own 94.48% of the company’s stock.

About Cheesecake Factory

The Cheesecake Factory Incorporated (NASDAQ:CAKE) is an American restaurant company and distributor renowned for its full-service casual-dining concept and specialty cheesecakes. Headquartered in Calabasas Hills, California, the company operates more than 200 restaurants under The Cheesecake Factory® brand across the United States, Puerto Rico and select international markets. In addition to sit-down dining, Cheesecake Factory franchised locations offer catering and take-out services, while a separate manufacturing arm supplies branded cheesecakes and desserts to supermarkets, hotels and other foodservice operators.

The origins of the brand trace back to a small cheesecake bakery founded in Detroit in the 1940s.