Cheesecake Factory (CAKE) Upgraded at BidaskClub

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BidaskClub upgraded shares of Cheesecake Factory (NASDAQ:CAKE) from a hold rating to a buy rating in a research note released on Friday morning.

A number of other equities research analysts have also recently commented on CAKE. ValuEngine cut shares of Cheesecake Factory from a buy rating to a hold rating in a report on Thursday, November 1st. Wedbush restated a hold rating and issued a $55.00 target price on shares of Cheesecake Factory in a report on Wednesday, August 1st. Maxim Group dropped their target price on shares of Cheesecake Factory from $57.00 to $55.00 and set a hold rating on the stock in a report on Wednesday, October 31st. Zacks Investment Research upgraded shares of Cheesecake Factory from a sell rating to a hold rating in a report on Wednesday, October 24th. Finally, Barclays dropped their target price on shares of Cheesecake Factory from $56.00 to $54.00 and set an equal weight rating on the stock in a report on Wednesday, August 1st. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and two have assigned a buy rating to the company’s stock. Cheesecake Factory currently has an average rating of Hold and a consensus target price of $52.67.

Shares of NASDAQ:CAKE traded down $2.39 during trading on Friday, reaching $47.91. 1,218,887 shares of the stock traded hands, compared to its average volume of 970,848. Cheesecake Factory has a 52-week low of $43.26 and a 52-week high of $60.19. The company has a quick ratio of 0.38, a current ratio of 0.45 and a debt-to-equity ratio of 0.03. The stock has a market cap of $2.31 billion, a price-to-earnings ratio of 21.61, a PEG ratio of 1.45 and a beta of 0.33.

Cheesecake Factory (NASDAQ:CAKE) last posted its quarterly earnings results on Tuesday, October 30th. The restaurant operator reported $0.62 EPS for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.04. Cheesecake Factory had a net margin of 6.02% and a return on equity of 18.02%. The firm had revenue of $580.88 million for the quarter, compared to analysts’ expectations of $585.44 million. During the same quarter in the prior year, the company posted $0.56 earnings per share. The business’s revenue for the quarter was up 4.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Cheesecake Factory will post 2.44 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 27th. Investors of record on Wednesday, November 14th will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 2.76%. The ex-dividend date of this dividend is Tuesday, November 13th. Cheesecake Factory’s dividend payout ratio is currently 50.77%.

In other Cheesecake Factory news, Director Edie A. Ames purchased 500 shares of the company’s stock in a transaction dated Wednesday, August 22nd. The shares were acquired at an average price of $52.83 per share, for a total transaction of $26,415.00. Following the purchase, the director now directly owns 1,430 shares of the company’s stock, valued at approximately $75,546.90. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Cheryl Slomann sold 1,005 shares of Cheesecake Factory stock in a transaction on Monday, August 27th. The stock was sold at an average price of $52.94, for a total transaction of $53,204.70. Following the transaction, the insider now owns 12,106 shares in the company, valued at approximately $640,891.64. The disclosure for this sale can be found here. Company insiders own 8.80% of the company’s stock.

Several institutional investors have recently modified their holdings of CAKE. Legal & General Group Plc boosted its stake in shares of Cheesecake Factory by 10.0% during the 1st quarter. Legal & General Group Plc now owns 42,784 shares of the restaurant operator’s stock worth $2,063,000 after acquiring an additional 3,906 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of Cheesecake Factory by 4.4% during the 1st quarter. Principal Financial Group Inc. now owns 242,877 shares of the restaurant operator’s stock worth $11,711,000 after acquiring an additional 10,164 shares during the last quarter. BTIM Corp. boosted its stake in shares of Cheesecake Factory by 1.4% during the 2nd quarter. BTIM Corp. now owns 482,743 shares of the restaurant operator’s stock worth $26,580,000 after acquiring an additional 6,820 shares during the last quarter. Hodges Capital Management Inc. purchased a new position in shares of Cheesecake Factory during the 2nd quarter worth $1,492,000. Finally, Rice Hall James & Associates LLC boosted its stake in shares of Cheesecake Factory by 4.0% during the 2nd quarter. Rice Hall James & Associates LLC now owns 451,408 shares of the restaurant operator’s stock worth $24,855,000 after acquiring an additional 17,205 shares during the last quarter.

About Cheesecake Factory

The Cheesecake Factory Incorporated operates restaurants in the United States. The company produces cheesecakes and other baked products for own restaurants and international licensees, as well as external foodservice operators, retailers, and distributors. As of August 21, 2018, it operated 215 company-owned restaurants, including 199 restaurants under The Cheesecake Factory brand; 14 restaurants under the Grand Lux Cafe brand; and 2 restaurants under the RockSugar Southeast Asian Kitchen brand, as well as 21 The Cheesecake Factory branded restaurants under licensing agreements internationally.

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Analyst Recommendations for Cheesecake Factory (NASDAQ:CAKE)

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