Cheesecake Factory Inc (CAKE) to Issue Quarterly Dividend of $0.36 on November 26th

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Cheesecake Factory Inc (NASDAQ:CAKE) announced a quarterly dividend on Tuesday, October 29th, Zacks reports. Stockholders of record on Tuesday, November 12th will be given a dividend of 0.36 per share by the restaurant operator on Tuesday, November 26th. This represents a $1.44 annualized dividend and a dividend yield of 3.33%. The ex-dividend date is Friday, November 8th.

Shares of Cheesecake Factory stock traded down $1.65 during trading on Wednesday, reaching $43.27. 40,980 shares of the company were exchanged, compared to its average volume of 935,786. The company has a quick ratio of 0.26, a current ratio of 0.20 and a debt-to-equity ratio of 0.63. Cheesecake Factory has a twelve month low of $35.83 and a twelve month high of $52.91. The business has a 50-day moving average price of $40.50 and a 200-day moving average price of $42.88. The firm has a market capitalization of $1.87 billion, a price-to-earnings ratio of 17.81, a P/E/G ratio of 1.36 and a beta of 0.45.

Cheesecake Factory (NASDAQ:CAKE) last announced its quarterly earnings data on Tuesday, October 29th. The restaurant operator reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.04. The business had revenue of $586.50 million during the quarter, compared to analysts’ expectations of $597.76 million. Cheesecake Factory had a return on equity of 21.61% and a net margin of 3.99%. The firm’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.61 earnings per share. On average, equities research analysts forecast that Cheesecake Factory will post 2.64 EPS for the current fiscal year.

CAKE has been the topic of several analyst reports. Bank of America reiterated a “neutral” rating and issued a $46.00 target price (down previously from $51.00) on shares of Cheesecake Factory in a research note on Thursday, August 1st. Wedbush set a $40.00 target price on shares of Cheesecake Factory and gave the stock a “hold” rating in a research note on Friday, October 25th. Wells Fargo & Co upgraded shares of Cheesecake Factory from a “market perform” rating to an “outperform” rating and set a $50.00 target price on the stock in a research note on Friday, September 6th. Raymond James downgraded shares of Cheesecake Factory from an “outperform” rating to a “market perform” rating in a research note on Thursday, October 17th. Finally, BidaskClub upgraded shares of Cheesecake Factory from a “sell” rating to a “hold” rating in a research note on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and two have issued a buy rating to the stock. Cheesecake Factory has an average rating of “Hold” and an average price target of $47.42.

In related news, Director Laurence B. Mindel bought 2,500 shares of the firm’s stock in a transaction on Monday, August 12th. The shares were bought at an average price of $39.04 per share, with a total value of $97,600.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President David M. Gordon sold 3,700 shares of the company’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $42.98, for a total transaction of $159,026.00. Following the completion of the transaction, the president now directly owns 25,816 shares in the company, valued at approximately $1,109,571.68. The disclosure for this sale can be found here. 8.50% of the stock is owned by corporate insiders.

About Cheesecake Factory

The Cheesecake Factory Incorporated engages in the operation of restaurants. 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 April 16, 2019, it owned and operated 219 full-service casual-dining restaurants in the United States, including Puerto Rico and Canada comprising 202 restaurants under The Cheesecake Factory name; 14 restaurants under the Grand Lux Café name; and 2 restaurants under the RockSugar Southeast Asian Kitchen name, as well as 22 The Cheesecake Factory restaurants under licensing agreements internationally.

Further Reading: Market Capitalization – What it Means for Investors

Dividend History for Cheesecake Factory (NASDAQ:CAKE)

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