Cheesecake Factory (NASDAQ:CAKE) Reaches New 52-Week High at $41.33

The Cheesecake Factory Incorporated (NASDAQ:CAKE)’s stock price hit a new 52-week high during trading on Tuesday . The company traded as high as $41.33 and last traded at $41.27, with a volume of 30615 shares traded. The stock had previously closed at $40.55.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. JPMorgan Chase & Co. decreased their price target on shares of Cheesecake Factory from $40.00 to $38.00 and set an “underweight” rating for the company in a research note on Tuesday, August 6th. Robert W. Baird increased their price target on Cheesecake Factory from $37.00 to $40.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Stephens restated an “overweight” rating and issued a $50.00 price objective on shares of Cheesecake Factory in a report on Thursday, August 1st. Barclays increased their target price on shares of Cheesecake Factory from $32.00 to $35.00 and gave the stock an “underweight” rating in a report on Thursday, August 1st. Finally, Wedbush restated an “outperform” rating and issued a $45.00 price target on shares of Cheesecake Factory in a report on Thursday, August 1st. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $40.08.

Cheesecake Factory Stock Up 1.1 %

The company’s fifty day simple moving average is $37.97 and its 200-day simple moving average is $37.43. The firm has a market capitalization of $2.09 billion, a PE ratio of 18.60, a price-to-earnings-growth ratio of 1.14 and a beta of 1.50. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.43 and a quick ratio of 0.32.

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

Cheesecake Factory Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 27th. Investors of record on Wednesday, August 14th were given a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 2.63%. The ex-dividend date was Wednesday, August 14th. Cheesecake Factory’s payout ratio is currently 49.54%.

Institutional Trading of Cheesecake Factory

Several large investors have recently bought and sold shares of the stock. Norges Bank acquired a new stake in shares of Cheesecake Factory during the fourth quarter worth $11,729,000. Seven Eight Capital LP grew its stake in Cheesecake Factory by 231.4% during the 4th quarter. Seven Eight Capital LP now owns 30,086 shares of the restaurant operator’s stock valued at $1,053,000 after purchasing an additional 21,007 shares during the last quarter. Duality Advisers LP acquired a new position in shares of Cheesecake Factory in the first quarter valued at about $1,829,000. New Century Financial Group LLC acquired a new stake in shares of Cheesecake Factory during the first quarter worth about $1,108,000. Finally, Dimensional Fund Advisors LP boosted its position in Cheesecake Factory by 3.6% in the second quarter. Dimensional Fund Advisors LP now owns 1,241,272 shares of the restaurant operator’s stock valued at $48,772,000 after buying an additional 43,128 shares during the last quarter. Hedge funds and other institutional investors own 94.48% of the company’s stock.

Cheesecake Factory Company Profile

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.