Cheesecake Factory (NASDAQ:CAKE) had its price target upped by Piper Jaffray Companies from $45.00 to $52.00 in a research report issued to clients and investors on Monday. The firm currently has an “overweight” rating on the restaurant operator’s stock. Piper Jaffray Companies’ target price indicates a potential upside of 3.57% from the stock’s previous close.
Several other research analysts have also recently commented on the stock. Zacks Investment Research raised shares of Cheesecake Factory from a “sell” rating to a “hold” rating in a report on Thursday. Barclays lowered their target price on shares of Cheesecake Factory from $48.00 to $46.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 18th. Morgan Stanley lowered their target price on shares of Cheesecake Factory from $48.00 to $44.00 and set an “equal weight” rating on the stock in a report on Thursday, November 2nd. Maxim Group lowered their target price on shares of Cheesecake Factory from $57.00 to $54.00 and set a “buy” rating on the stock in a report on Thursday, November 2nd. Finally, Wedbush cut shares of Cheesecake Factory from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $52.00 to $44.00 in a report on Tuesday, September 26th. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $48.19.
Cheesecake Factory (NASDAQ:CAKE) traded up $0.02 during trading on Monday, reaching $50.21. 845,900 shares of the company’s stock traded hands, compared to its average volume of 988,200. The company has a market cap of $2,298.88, a PE ratio of 18.53, a P/E/G ratio of 1.31 and a beta of 0.33. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.37 and a current ratio of 0.51. Cheesecake Factory has a 52-week low of $38.34 and a 52-week high of $67.14.
In related news, Director Herbert Simon bought 25,000 shares of the business’s stock in a transaction on Monday, November 6th. The shares were purchased at an average price of $43.50 per share, for a total transaction of $1,087,500.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Debby R. Zurzolo sold 2,306 shares of the firm’s stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $44.75, for a total transaction of $103,193.50. The disclosure for this sale can be found here. Company insiders own 8.40% of the company’s stock.
Large investors have recently modified their holdings of the company. Koch Industries Inc. acquired a new position in shares of Cheesecake Factory during the second quarter worth $353,000. Sciencast Management LP acquired a new position in shares of Cheesecake Factory during the second quarter worth $357,000. Bridgewater Associates LP acquired a new position in Cheesecake Factory in the second quarter valued at $606,000. Macquarie Group Ltd. lifted its holdings in Cheesecake Factory by 18.4% in the second quarter. Macquarie Group Ltd. now owns 1,351,873 shares of the restaurant operator’s stock valued at $67,999,000 after buying an additional 209,711 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in Cheesecake Factory by 3.6% in the second quarter. Vanguard Group Inc. now owns 4,171,917 shares of the restaurant operator’s stock valued at $209,847,000 after buying an additional 146,756 shares during the period. Institutional investors own 97.47% of the company’s stock.
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Cheesecake Factory Company Profile
The Cheesecake Factory Incorporated is engaged in the restaurant and bakery business. As of March 2, 2017, the Company operated 208 Company-owned restaurants: 194 under The Cheesecake Factory mark, 13 under the Grand Lux Cafe mark and one under the Rock Sugar Pan Asian Kitchen mark. The Company’s segments include The Cheesecake Factory restaurants, and other.
