Wedbush Has Optimistic Outlook of CAKE FY2024 Earnings

The Cheesecake Factory Incorporated (NASDAQ:CAKE) – Analysts at Wedbush lifted their FY2024 earnings per share (EPS) estimates for Cheesecake Factory in a research note issued to investors on Friday, February 14th. Wedbush analyst N. Setyan now expects that the restaurant operator will earn $3.33 per share for the year, up from their prior forecast of $3.30. Wedbush has a “Outperform” rating and a $59.00 price objective 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.

A number of other equities analysts have also weighed in on the stock. Robert W. Baird upped their target price on shares of Cheesecake Factory from $40.00 to $47.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. The Goldman Sachs Group lifted their price objective on Cheesecake Factory from $56.00 to $64.00 and gave the stock a “buy” rating in a research note on Thursday, February 6th. Jefferies Financial Group raised their target price on shares of Cheesecake Factory from $49.00 to $58.00 and gave the company a “buy” rating in a report on Monday, December 16th. Raymond James upped their price target on shares of Cheesecake Factory from $51.00 to $56.00 and gave the company an “outperform” rating in a research note on Monday, December 16th. Finally, Oppenheimer raised shares of Cheesecake Factory from a “market perform” rating to an “outperform” rating and set a $65.00 price objective for the company in a research note on Tuesday, January 7th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $49.93.

Cheesecake Factory Price Performance

Shares of Cheesecake Factory stock opened at $55.78 on Monday. The company has a market capitalization of $2.85 billion, a price-to-earnings ratio of 21.21, a PEG ratio of 1.33 and a beta of 1.51. The company has a quick ratio of 0.33, a current ratio of 0.44 and a debt-to-equity ratio of 1.19. The stock’s 50-day simple moving average is $50.88 and its 200-day simple moving average is $45.18. Cheesecake Factory has a 52 week low of $33.05 and a 52 week high of $57.32.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of CAKE. Hennessy Advisors Inc. purchased a new position in Cheesecake Factory during the 4th quarter worth $63,114,000. Wellington Management Group LLP purchased a new position in Cheesecake Factory during the 4th quarter worth $56,288,000. Victory Capital Management Inc. increased its holdings in Cheesecake Factory by 166.9% during the 4th quarter. Victory Capital Management Inc. now owns 1,076,347 shares of the restaurant operator’s stock worth $51,062,000 after purchasing an additional 673,076 shares during the period. Junto Capital Management LP purchased a new position in Cheesecake Factory during the 4th quarter worth $21,827,000. Finally, JCP Investment Management LLC increased its holdings in Cheesecake Factory by 181.3% during the 4th quarter. JCP Investment Management LLC now owns 667,210 shares of the restaurant operator’s stock worth $31,652,000 after purchasing an additional 430,000 shares during the period. 94.48% of the stock is currently owned by hedge funds and other institutional investors.

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.