Cheesecake Factory (NASDAQ:CAKE) Price Target Raised to $47.00 at Bank of America

Cheesecake Factory (NASDAQ:CAKE) had its price objective raised by Bank of America from $45.00 to $47.00 in a research report report published on Tuesday morning, Benzinga reports. The firm currently has a neutral rating on the restaurant operator’s stock.

A number of other analysts have also recently weighed in on CAKE. Wells Fargo & Company increased their price target on shares of Cheesecake Factory from $36.00 to $38.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 1st. JPMorgan Chase & Co. cut their price target on shares of Cheesecake Factory from $40.00 to $38.00 and set an “underweight” rating for the company in a report on Tuesday, August 6th. Barclays increased their price target on shares of Cheesecake Factory from $35.00 to $38.00 and gave the company an “underweight” rating in a report on Tuesday. Citigroup increased their price target on shares of Cheesecake Factory from $46.00 to $51.00 and gave the company a “buy” rating in a report on Friday, October 4th. Finally, Wedbush reissued an “outperform” rating and issued a $45.00 price objective on shares of Cheesecake Factory in a research note on Tuesday. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $42.18.

Cheesecake Factory Trading Down 1.0 %

Shares of Cheesecake Factory stock opened at $42.04 on Tuesday. The company has a fifty day simple moving average of $39.24 and a 200-day simple moving average of $37.96. Cheesecake Factory has a 12-month low of $29.27 and a 12-month high of $43.51. The company has a current ratio of 0.43, a quick ratio of 0.32 and a debt-to-equity ratio of 1.26. The stock has a market cap of $2.14 billion, a price-to-earnings ratio of 19.28, a PEG ratio of 1.13 and a beta of 1.49.

Cheesecake Factory (NASDAQ:CAKE) last issued its earnings results on Wednesday, July 31st. The restaurant operator reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.09. The business had revenue of $904.04 million during the quarter, compared to analysts’ expectations of $909.19 million. Cheesecake Factory had a net margin of 3.32% and a return on equity of 43.62%. The company’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.88 EPS. On average, equities analysts forecast that Cheesecake Factory will post 3.21 EPS for the current fiscal year.

Cheesecake Factory Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 27th. Shareholders of record on Wednesday, August 14th were paid a dividend of $0.27 per share. The ex-dividend date was Wednesday, August 14th. This represents a $1.08 annualized dividend and a dividend yield of 2.57%. Cheesecake Factory’s dividend payout ratio is currently 49.54%.

Institutional Investors Weigh In On Cheesecake Factory

Several hedge funds have recently modified their holdings of CAKE. Allspring Global Investments Holdings LLC boosted its stake in shares of Cheesecake Factory by 2,360.7% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 689 shares of the restaurant operator’s stock worth $25,000 after purchasing an additional 661 shares during the last quarter. New Century Financial Group LLC acquired a new stake in shares of Cheesecake Factory during the 1st quarter worth about $1,108,000. Texas Permanent School Fund Corp boosted its position in shares of Cheesecake Factory by 1.4% in the first quarter. Texas Permanent School Fund Corp now owns 40,881 shares of the restaurant operator’s stock worth $1,478,000 after acquiring an additional 547 shares during the last quarter. Duality Advisers LP acquired a new stake in shares of Cheesecake Factory in the first quarter worth approximately $1,829,000. Finally, Sciencast Management LP acquired a new stake in shares of Cheesecake Factory in the first quarter worth approximately $400,000. 94.48% of the stock is 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.