Wedbush Increases Earnings Estimates for Cheesecake Factory

The Cheesecake Factory Incorporated (NASDAQ:CAKE) – Investment analysts at Wedbush lifted their FY2024 EPS estimates for shares of Cheesecake Factory in a note issued to investors on Friday, February 14th. Wedbush analyst N. Setyan now anticipates that the restaurant operator will earn $3.33 per share for the year, up from their prior estimate of $3.30. Wedbush has a “Outperform” rating and a $59.00 price target on the stock. The consensus estimate for Cheesecake Factory’s current full-year earnings is $3.31 per share. Wedbush also issued estimates for Cheesecake Factory’s Q4 2024 earnings at $0.93 EPS.

CAKE has been the topic of a number of other research reports. The Goldman Sachs Group upped their price target on shares of Cheesecake Factory from $56.00 to $64.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. Wells Fargo & Company boosted their price objective on shares of Cheesecake Factory from $38.00 to $45.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Barclays boosted their price objective on shares of Cheesecake Factory from $38.00 to $44.00 and gave the company an “underweight” rating in a report on Wednesday, October 30th. Raymond James upped their price target on shares of Cheesecake Factory from $51.00 to $56.00 and gave the stock an “outperform” rating in a report on Monday, December 16th. Finally, Stephens increased their price target on shares of Cheesecake Factory from $51.00 to $57.00 and gave the stock an “overweight” rating in a research report on Thursday, December 12th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $49.93.

Cheesecake Factory Stock Up 1.6 %

Shares of CAKE opened at $53.34 on Monday. Cheesecake Factory has a 52 week low of $33.05 and a 52 week high of $57.32. The firm has a market cap of $2.72 billion, a P/E ratio of 20.28, a price-to-earnings-growth ratio of 1.33 and a beta of 1.51. The firm’s 50-day simple moving average is $50.69 and its 200 day simple moving average is $44.92. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.33 and a current ratio of 0.44.

Hedge Funds Weigh In On Cheesecake Factory

A number of hedge funds have recently bought and sold shares of CAKE. Golden State Wealth Management LLC bought a new position in Cheesecake Factory during the fourth quarter worth $25,000. Versant Capital Management Inc increased its stake in Cheesecake Factory by 108.1% in the fourth quarter. Versant Capital Management Inc now owns 616 shares of the restaurant operator’s stock valued at $29,000 after purchasing an additional 320 shares in the last quarter. SBI Securities Co. Ltd. bought a new stake in Cheesecake Factory in the fourth quarter valued at $43,000. Venturi Wealth Management LLC increased its stake in Cheesecake Factory by 1,149.5% in the fourth quarter. Venturi Wealth Management LLC now owns 1,312 shares of the restaurant operator’s stock valued at $62,000 after purchasing an additional 1,207 shares in the last quarter. Finally, KBC Group NV increased its stake in Cheesecake Factory by 46.9% in the fourth quarter. KBC Group NV now owns 2,321 shares of the restaurant operator’s stock valued at $110,000 after purchasing an additional 741 shares in the last quarter. Institutional investors own 94.48% of the company’s stock.

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.