Cheesecake Factory (NASDAQ:CAKE) Stock Price Expected to Rise, Jefferies Financial Group Analyst Says

Cheesecake Factory (NASDAQ:CAKE) had its price objective hoisted by Jefferies Financial Group from $49.00 to $58.00 in a report published on Monday morning,Benzinga reports. The firm currently has a buy rating on the restaurant operator’s stock.

A number of other equities analysts have also recently issued reports on the stock. The Goldman Sachs Group initiated coverage on shares of Cheesecake Factory in a research report on Thursday, December 5th. They set a “buy” rating and a $56.00 target price for the company. Bank of America lifted their price objective on Cheesecake Factory from $47.00 to $49.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Citigroup raised their price target on Cheesecake Factory from $46.00 to $51.00 and gave the stock a “buy” rating in a research report on Friday, October 4th. Stephens upped their price objective on Cheesecake Factory from $51.00 to $57.00 and gave the company an “overweight” rating in a research report on Thursday, December 12th. Finally, Robert W. Baird increased their price objective on Cheesecake Factory from $40.00 to $47.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Cheesecake Factory currently has a consensus rating of “Hold” and an average target price of $47.93.

Cheesecake Factory Stock Performance

Shares of CAKE stock opened at $47.57 on Monday. The stock has a fifty day moving average price of $46.50 and a 200 day moving average price of $41.37. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.33 and a current ratio of 0.44. The stock has a market cap of $2.43 billion, a PE ratio of 18.09, a P/E/G ratio of 1.37 and a beta of 1.48. Cheesecake Factory has a 1 year low of $31.24 and a 1 year high of $52.10.

Cheesecake Factory (NASDAQ:CAKE) last announced its quarterly earnings results on Tuesday, October 29th. The restaurant operator reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.11. Cheesecake Factory had a return on equity of 43.90% and a net margin of 3.63%. The business had revenue of $865.50 million during the quarter, compared to analysts’ expectations of $866.13 million. During the same quarter last year, the business posted $0.39 earnings per share. The business’s revenue for the quarter was up 4.3% on a year-over-year basis. Sell-side analysts forecast that Cheesecake Factory will post 3.31 earnings per share for the current fiscal year.

Cheesecake Factory Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 26th. Investors of record on Wednesday, November 13th were given a $0.27 dividend. The ex-dividend date was Wednesday, November 13th. This represents a $1.08 annualized dividend and a dividend yield of 2.27%. Cheesecake Factory’s dividend payout ratio is presently 41.06%.

Insider Activity at Cheesecake Factory

In related news, insider Keith Carango sold 13,095 shares of Cheesecake Factory stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $49.88, for a total value of $653,178.60. Following the transaction, the insider now owns 14,977 shares in the company, valued at approximately $747,052.76. This trade represents a 46.65 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 8.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Cheesecake Factory

Several institutional investors and hedge funds have recently added to or reduced their stakes in CAKE. nVerses Capital LLC purchased a new stake in shares of Cheesecake Factory during the 2nd quarter worth about $67,000. Wealth Alliance acquired a new position in Cheesecake Factory during the second quarter valued at approximately $213,000. Glenmede Trust Co. NA purchased a new stake in Cheesecake Factory during the third quarter worth approximately $223,000. Foundations Investment Advisors LLC acquired a new stake in shares of Cheesecake Factory in the third quarter worth $227,000. Finally, Commonwealth Equity Services LLC raised its stake in shares of Cheesecake Factory by 13.4% in the 2nd quarter. Commonwealth Equity Services LLC now owns 6,771 shares of the restaurant operator’s stock valued at $266,000 after acquiring an additional 802 shares during the period. 94.48% of the stock is currently owned by institutional investors and hedge funds.

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.