Cheesecake Factory (NASDAQ:CAKE) Price Target Raised to $47.00 at Robert W. Baird

Cheesecake Factory (NASDAQ:CAKE) had its price target lifted by Robert W. Baird from $40.00 to $47.00 in a research report report published on Wednesday morning, Benzinga reports. The brokerage currently has a neutral rating on the restaurant operator’s stock.

A number of other research firms have also commented on CAKE. UBS Group lifted their price objective on Cheesecake Factory from $32.00 to $36.00 and gave the stock a “sell” rating in a research note on Friday, October 25th. Stephens reaffirmed an “overweight” rating and issued a $50.00 price target on shares of Cheesecake Factory in a research report on Tuesday, October 22nd. Wedbush reissued an “outperform” rating and issued a $45.00 price objective on shares of Cheesecake Factory in a research report on Tuesday, October 22nd. JPMorgan Chase & Co. lowered their price objective on shares of Cheesecake Factory from $40.00 to $38.00 and set an “underweight” rating on the stock in a research note on Tuesday, August 6th. Finally, Citigroup upped their target price on shares of Cheesecake Factory from $46.00 to $51.00 and gave the company a “buy” rating in a research note on Friday, October 4th. Three analysts have rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $44.17.

Cheesecake Factory Trading Down 0.9 %

Shares of NASDAQ CAKE opened at $45.82 on Wednesday. The business has a 50 day simple moving average of $40.27 and a 200 day simple moving average of $38.50. Cheesecake Factory has a 52 week low of $29.27 and a 52 week high of $49.75. The stock has a market cap of $2.33 billion, a price-to-earnings ratio of 17.42, a PEG ratio of 1.33 and a beta of 1.49. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.32 and a current ratio of 0.43.

Cheesecake Factory (NASDAQ:CAKE) last announced its quarterly earnings results on Tuesday, October 29th. The restaurant operator reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.11. The company had revenue of $865.50 million during the quarter, compared to analysts’ expectations of $866.13 million. Cheesecake Factory had a return on equity of 45.66% and a net margin of 3.63%. The business’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.39 earnings per share. On average, research analysts predict that Cheesecake Factory will post 3.22 earnings per share for the current fiscal year.

Cheesecake Factory Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 26th. Investors of record on Wednesday, November 13th will be issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.36%. The ex-dividend date of this dividend is Wednesday, November 13th. Cheesecake Factory’s payout ratio is presently 41.06%.

Institutional Investors Weigh In On Cheesecake Factory

Several hedge funds have recently bought and sold shares of CAKE. Atria Investments Inc grew its holdings in Cheesecake Factory by 8.2% in the 3rd quarter. Atria Investments Inc now owns 9,074 shares of the restaurant operator’s stock valued at $368,000 after buying an additional 689 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of Cheesecake Factory by 9.6% in the third quarter. Principal Financial Group Inc. now owns 255,595 shares of the restaurant operator’s stock valued at $10,364,000 after acquiring an additional 22,416 shares during the period. Harbor Capital Advisors Inc. grew its stake in shares of Cheesecake Factory by 2.4% in the third quarter. Harbor Capital Advisors Inc. now owns 23,110 shares of the restaurant operator’s stock valued at $937,000 after acquiring an additional 532 shares in the last quarter. Oak Harvest Investment Services bought a new position in Cheesecake Factory during the third quarter worth about $345,000. Finally, New York State Teachers Retirement System raised its stake in Cheesecake Factory by 5.5% in the 3rd quarter. New York State Teachers Retirement System now owns 77,660 shares of the restaurant operator’s stock worth $3,149,000 after purchasing an additional 4,053 shares in the last quarter. 94.48% of the stock is currently 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.