The Cheesecake Factory Incorporated (NASDAQ:CAKE) Receives Consensus Recommendation of “Reduce” from Analysts

The Cheesecake Factory Incorporated (NASDAQ:CAKEGet Free Report) has earned a consensus rating of “Reduce” from the eighteen analysts that are currently covering the stock, MarketBeat Ratings reports. Four analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have given a buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $33.93.

Several brokerages have commented on CAKE. Piper Sandler lowered their target price on shares of Cheesecake Factory from $36.00 to $33.00 and set a “neutral” rating for the company in a research note on Thursday, November 2nd. Deutsche Bank Aktiengesellschaft began coverage on shares of Cheesecake Factory in a research note on Thursday, October 19th. They issued a “hold” rating and a $32.00 target price for the company. TheStreet downgraded shares of Cheesecake Factory from a “b-” rating to a “c+” rating in a research note on Monday, October 30th. Wedbush reaffirmed a “neutral” rating and issued a $32.00 target price on shares of Cheesecake Factory in a research note on Thursday, November 2nd. Finally, Morgan Stanley lowered their target price on shares of Cheesecake Factory from $31.00 to $28.00 and set an “underweight” rating for the company in a research note on Wednesday, October 11th.

Get Our Latest Stock Analysis on Cheesecake Factory

Cheesecake Factory Trading Up 1.3 %

Shares of NASDAQ CAKE opened at $32.57 on Friday. The company’s 50 day simple moving average is $30.29 and its 200 day simple moving average is $32.59. Cheesecake Factory has a fifty-two week low of $28.58 and a fifty-two week high of $41.28. The firm has a market capitalization of $1.65 billion, a P/E ratio of 18.83, a P/E/G ratio of 0.65 and a beta of 1.46. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.44 and a quick ratio of 0.35.

Cheesecake Factory (NASDAQ:CAKEGet Free Report) last announced its quarterly earnings data on Wednesday, November 1st. The restaurant operator reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.03). Cheesecake Factory had a net margin of 2.47% and a return on equity of 38.79%. The business had revenue of $830.20 million during the quarter, compared to analyst estimates of $842.63 million. During the same quarter in the prior year, the company earned ($0.03) earnings per share. The company’s quarterly revenue was up 5.9% on a year-over-year basis. On average, analysts predict that Cheesecake Factory will post 2.62 EPS for the current year.

Cheesecake Factory Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 28th. Investors of record on Wednesday, November 15th will be given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 3.32%. The ex-dividend date of this dividend is Tuesday, November 14th. Cheesecake Factory’s dividend payout ratio (DPR) is currently 62.43%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in CAKE. Millennium Management LLC grew its position in Cheesecake Factory by 2,369.2% in the second quarter. Millennium Management LLC now owns 905,116 shares of the restaurant operator’s stock valued at $23,913,000 after purchasing an additional 868,460 shares in the last quarter. Thrivent Financial for Lutherans lifted its stake in Cheesecake Factory by 436.0% in the second quarter. Thrivent Financial for Lutherans now owns 578,646 shares of the restaurant operator’s stock valued at $20,010,000 after acquiring an additional 470,681 shares during the last quarter. Norges Bank acquired a new stake in Cheesecake Factory in the fourth quarter valued at $13,927,000. Weiss Multi Strategy Advisers LLC acquired a new stake in Cheesecake Factory in the first quarter valued at $10,360,000. Finally, Renaissance Technologies LLC acquired a new stake in Cheesecake Factory in the second quarter valued at $6,244,000. Institutional investors own 88.68% of the company’s stock.

About Cheesecake Factory

(Get Free Report

The Cheesecake Factory Incorporated engages in restaurant business. The company operates two bakeries that produces cheesecakes and other baked products for its restaurants, international licensees, third-party bakery customers, external foodservice operators, retailers, and distributors. It also operates restaurants in the United States and Canada under brands comprising The Cheesecake Factory, North Italia, and a collection of Fox Restaurant Concepts, as well as The Cheesecake Factory restaurants under licensing agreements internationally.

See Also

Analyst Recommendations for Cheesecake Factory (NASDAQ:CAKE)

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