Cheesecake Factory (NASDAQ:CAKE) Stock Price Down 2.8%

The Cheesecake Factory Incorporated (NASDAQ:CAKE) was down 2.8% on Thursday . The stock traded as low as $35.95 and last traded at $36.03. Approximately 380,730 shares changed hands during trading, a decline of 53% from the average daily volume of 815,559 shares. The stock had previously closed at $37.06.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on CAKE shares. Oppenheimer reissued a “market perform” rating on shares of Cheesecake Factory in a report on Thursday, February 22nd. Piper Sandler increased their price objective on Cheesecake Factory from $33.00 to $37.00 and gave the company a “neutral” rating in a report on Thursday, February 22nd. Barclays increased their price objective on Cheesecake Factory from $32.00 to $33.00 and gave the company an “underweight” rating in a report on Thursday, February 22nd. JPMorgan Chase & Co. lowered Cheesecake Factory from a “neutral” rating to an “underweight” rating and set a $33.00 price objective for the company. in a report on Tuesday, January 23rd. Finally, Wedbush reissued an “outperform” rating and set a $40.00 price objective on shares of Cheesecake Factory in a report on Thursday, February 22nd. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Cheesecake Factory currently has a consensus rating of “Hold” and an average target price of $34.82.

Cheesecake Factory Stock Down 1.7 %

The company has a quick ratio of 0.37, a current ratio of 0.46 and a debt-to-equity ratio of 1.48. The company has a market cap of $1.75 billion, a PE ratio of 16.65, a P/E/G ratio of 1.11 and a beta of 1.48. The stock has a 50-day moving average of $35.43 and a 200-day moving average of $33.22.

Cheesecake Factory (NASDAQ:CAKE) last released its quarterly earnings results on Wednesday, February 21st. The restaurant operator reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.07. Cheesecake Factory had a return on equity of 41.66% and a net margin of 2.95%. The business had revenue of $877.00 million for the quarter, compared to the consensus estimate of $876.17 million. During the same quarter last year, the business posted $0.56 earnings per share. The company’s revenue for the quarter was down 1.8% on a year-over-year basis. Sell-side analysts predict that The Cheesecake Factory Incorporated will post 3.08 earnings per share for the current fiscal year.

Cheesecake Factory Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 19th. Shareholders of record on Wednesday, March 6th were given a dividend of $0.27 per share. The ex-dividend date of this dividend was Tuesday, March 5th. This represents a $1.08 dividend on an annualized basis and a yield of 3.15%. Cheesecake Factory’s payout ratio is 52.43%.

Institutional Investors Weigh In On Cheesecake Factory

Large investors have recently added to or reduced their stakes in the company. Ables Iannone Moore & Associates Inc. purchased a new stake in Cheesecake Factory during the fourth quarter valued at about $26,000. Studio Investment Management LLC bought a new position in shares of Cheesecake Factory during the third quarter valued at about $25,000. Tower Research Capital LLC TRC grew its stake in shares of Cheesecake Factory by 338.4% during the first quarter. Tower Research Capital LLC TRC now owns 982 shares of the restaurant operator’s stock valued at $34,000 after buying an additional 758 shares during the last quarter. Quadrant Capital Group LLC grew its stake in shares of Cheesecake Factory by 48.4% during the fourth quarter. Quadrant Capital Group LLC now owns 1,566 shares of the restaurant operator’s stock valued at $55,000 after buying an additional 511 shares during the last quarter. Finally, State of Wyoming bought a new position in shares of Cheesecake Factory during the second quarter valued at about $59,000. 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.