Cheesecake Factory (NASDAQ:CAKE) Price Target Cut to $46.00 by Analysts at Robert W. Baird

Cheesecake Factory (NASDAQ:CAKE) had its price objective decreased by Robert W. Baird from $50.00 to $46.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has a “neutral” rating on the restaurant operator’s stock. Robert W. Baird’s target price indicates a potential upside of 0.70% from the stock’s current price.

CAKE has been the topic of a number of other reports. Citigroup reaffirmed a “buy” rating on shares of Cheesecake Factory in a research note on Tuesday, February 4th. Morgan Stanley lifted their price target on Cheesecake Factory from $37.00 to $40.00 and gave the company an “underweight” rating in a research note on Thursday, February 20th. UBS Group increased their price objective on Cheesecake Factory from $41.00 to $45.00 and gave the stock a “sell” rating in a research note on Thursday, February 20th. Wedbush lifted their target price on Cheesecake Factory from $59.00 to $61.00 and gave the company an “outperform” rating in a research report on Thursday, February 20th. Finally, William Blair reissued an “outperform” rating on shares of Cheesecake Factory in a research report on Thursday, February 20th. Four analysts have rated the stock with a sell rating, six have issued a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $52.13.

Cheesecake Factory Stock Down 2.4 %

CAKE stock opened at $45.68 on Monday. The stock’s 50 day simple moving average is $51.47 and its 200 day simple moving average is $48.08. The company has a market cap of $2.36 billion, a P/E ratio of 14.28, a price-to-earnings-growth ratio of 1.31 and a beta of 1.24. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.33 and a current ratio of 0.44. Cheesecake Factory has a fifty-two week low of $33.05 and a fifty-two week high of $57.32.

Cheesecake Factory (NASDAQ:CAKE) last issued its earnings results on Wednesday, February 19th. The restaurant operator reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.91 by $0.13. Cheesecake Factory had a return on equity of 45.89% and a net margin of 4.38%. The company had revenue of $920.96 million for the quarter, compared to analyst estimates of $912.67 million. On average, research analysts expect that Cheesecake Factory will post 3.71 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Cheesecake Factory news, CFO Matthew Eliot Clark sold 29,000 shares of the firm’s stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $53.56, for a total value of $1,553,240.00. Following the completion of the transaction, the chief financial officer now owns 39,856 shares in the company, valued at $2,134,687.36. This trade represents a 42.12 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman David Overton sold 100,000 shares of Cheesecake Factory stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $53.08, for a total value of $5,308,000.00. Following the transaction, the chairman now directly owns 3,092,147 shares of the company’s stock, valued at $164,131,162.76. The trade was a 3.13 % decrease in their position. The disclosure for this sale can be found here. 8.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in CAKE. Lido Advisors LLC raised its position in shares of Cheesecake Factory by 2.0% during the 4th quarter. Lido Advisors LLC now owns 10,805 shares of the restaurant operator’s stock valued at $513,000 after buying an additional 215 shares in the last quarter. Summit Investment Advisors Inc. increased its stake in Cheesecake Factory by 4.7% in the fourth quarter. Summit Investment Advisors Inc. now owns 5,051 shares of the restaurant operator’s stock valued at $240,000 after acquiring an additional 228 shares during the last quarter. Truist Financial Corp raised its holdings in shares of Cheesecake Factory by 3.3% during the 4th quarter. Truist Financial Corp now owns 8,045 shares of the restaurant operator’s stock valued at $382,000 after buying an additional 257 shares in the last quarter. Blair William & Co. IL raised its holdings in shares of Cheesecake Factory by 5.2% during the 4th quarter. Blair William & Co. IL now owns 5,772 shares of the restaurant operator’s stock valued at $274,000 after buying an additional 283 shares in the last quarter. Finally, Versant Capital Management Inc lifted its position in Cheesecake Factory by 108.1% in the 4th quarter. Versant Capital Management Inc now owns 616 shares of the restaurant operator’s stock worth $29,000 after buying an additional 320 shares during the last quarter. 94.48% of the stock is currently owned by hedge funds and other institutional investors.

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.