Cheesecake Factory (NASDAQ:CAKE) Price Target Raised to $38.00 at Barclays

Cheesecake Factory (NASDAQ:CAKE) had its target price raised by Barclays from $35.00 to $38.00 in a research note issued to investors on Tuesday morning, Benzinga reports. They currently have an underweight rating on the restaurant operator’s stock.

A number of other analysts have also commented on CAKE. Citigroup boosted their price objective on Cheesecake Factory from $46.00 to $51.00 and gave the stock a “buy” rating in a report on Friday, October 4th. JPMorgan Chase & Co. cut their target price on Cheesecake Factory from $40.00 to $38.00 and set an “underweight” rating on the stock in a research note on Tuesday, August 6th. Robert W. Baird boosted their target price on Cheesecake Factory from $37.00 to $40.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. Wedbush restated an “outperform” rating and issued a $45.00 target price on shares of Cheesecake Factory in a research note on Tuesday. Finally, Wells Fargo & Company upped their price objective on Cheesecake Factory from $36.00 to $38.00 and gave the company an “equal weight” rating in a research note on Thursday, August 1st. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $42.18.

Cheesecake Factory Stock Down 1.0 %

Shares of CAKE opened at $42.04 on Tuesday. The stock’s 50-day moving average price is $39.24 and its two-hundred day moving average price is $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 company has a market capitalization of $2.14 billion, a PE ratio of 19.28, a PEG ratio of 1.13 and a beta of 1.49.

Cheesecake Factory (NASDAQ:CAKE) last posted its quarterly earnings data 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. Cheesecake Factory had a return on equity of 43.62% and a net margin of 3.32%. The firm had revenue of $904.04 million during the quarter, compared to analyst estimates of $909.19 million. During the same period last year, the company posted $0.88 EPS. The business’s quarterly revenue was up 4.4% on a year-over-year basis. On average, analysts anticipate that Cheesecake Factory will post 3.21 EPS for the current year.

Cheesecake Factory Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 27th. Shareholders of record on Wednesday, August 14th were given a dividend of $0.27 per share. The ex-dividend date of this dividend 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 institutional investors have recently made changes to their positions in CAKE. Allspring Global Investments Holdings LLC lifted its position in shares of Cheesecake Factory by 2,360.7% during the first quarter. Allspring Global Investments Holdings LLC now owns 689 shares of the restaurant operator’s stock worth $25,000 after acquiring an additional 661 shares in the last quarter. New Century Financial Group LLC bought a new position in Cheesecake Factory in the first quarter valued at $1,108,000. Texas Permanent School Fund Corp increased its stake in 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 valued at $1,478,000 after acquiring an additional 547 shares during the last quarter. Duality Advisers LP purchased a new stake in Cheesecake Factory during the first quarter valued at about $1,829,000. Finally, Sciencast Management LP purchased a new stake in Cheesecake Factory during the first quarter valued at about $400,000. 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.