Cheesecake Factory (CAKE) Cut to Hold at BidaskClub

BidaskClub cut shares of Cheesecake Factory (NASDAQ:CAKE) from a buy rating to a hold rating in a research report sent to investors on Thursday morning.

Other equities research analysts also recently issued research reports about the company. Robert W. Baird increased their target price on Cheesecake Factory from $55.00 to $58.00 and gave the stock a neutral rating in a research report on Wednesday, July 25th. ValuEngine upgraded Cheesecake Factory from a hold rating to a buy rating in a research report on Wednesday, July 11th. Zacks Investment Research downgraded Cheesecake Factory from a hold rating to a strong sell rating in a research report on Friday, August 3rd. Maxim Group downgraded Cheesecake Factory from a buy rating to a hold rating and set a $60.00 target price on the stock. in a research report on Friday, June 22nd. Finally, Morgan Stanley decreased their price target on shares of Cheesecake Factory from $51.00 to $50.00 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, fourteen have assigned a hold rating and two have issued a buy rating to the company’s stock. The company has an average rating of Hold and an average target price of $51.73.

NASDAQ:CAKE opened at $52.93 on Thursday. The firm has a market cap of $2.45 billion, a price-to-earnings ratio of 20.36, a P/E/G ratio of 1.53 and a beta of 0.26. Cheesecake Factory has a 1 year low of $40.01 and a 1 year high of $60.19. The company has a current ratio of 0.48, a quick ratio of 0.38 and a debt-to-equity ratio of 0.03.

Cheesecake Factory (NASDAQ:CAKE) last posted its earnings results on Tuesday, July 31st. The restaurant operator reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.81 by ($0.16). The company had revenue of $593.20 million for the quarter, compared to analysts’ expectations of $592.40 million. Cheesecake Factory had a return on equity of 17.87% and a net margin of 6.00%. The company’s revenue was up 4.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.78 EPS. analysts predict that Cheesecake Factory will post 2.43 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 28th. Stockholders of record on Wednesday, August 15th were issued a $0.33 dividend. The ex-dividend date of this dividend was Tuesday, August 14th. This represents a $1.32 annualized dividend and a dividend yield of 2.49%. This is a boost from Cheesecake Factory’s previous quarterly dividend of $0.29. Cheesecake Factory’s dividend payout ratio is presently 50.77%.

In other news, Director Edie A. Ames purchased 500 shares of the firm’s stock in a transaction dated Wednesday, August 22nd. The shares were purchased at an average price of $52.83 per share, with a total value of $26,415.00. Following the completion of the acquisition, the director now owns 1,430 shares in the company, valued at approximately $75,546.90. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Cheryl Slomann sold 1,005 shares of the company’s 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 completion of the transaction, the insider now directly owns 12,106 shares in the company, valued at approximately $640,891.64. The disclosure for this sale can be found here. Corporate insiders own 8.80% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the company. Wells Fargo & Company MN increased its stake in Cheesecake Factory by 0.6% in the first quarter. Wells Fargo & Company MN now owns 887,351 shares of the restaurant operator’s stock valued at $42,788,000 after acquiring an additional 5,652 shares during the last quarter. SG Americas Securities LLC increased its stake in Cheesecake Factory by 5.2% in the first quarter. SG Americas Securities LLC now owns 30,823 shares of the restaurant operator’s stock valued at $1,486,000 after acquiring an additional 1,530 shares during the last quarter. LSV Asset Management increased its stake in Cheesecake Factory by 4.0% in the first quarter. LSV Asset Management now owns 267,000 shares of the restaurant operator’s stock valued at $12,874,000 after acquiring an additional 10,200 shares during the last quarter. Schwab Charles Investment Management Inc. increased its stake in Cheesecake Factory by 8.9% in the first quarter. Schwab Charles Investment Management Inc. now owns 384,893 shares of the restaurant operator’s stock valued at $18,560,000 after acquiring an additional 31,574 shares during the last quarter. Finally, US Bancorp DE increased its stake in Cheesecake Factory by 113.9% in the first quarter. US Bancorp DE now owns 23,400 shares of the restaurant operator’s stock valued at $1,129,000 after acquiring an additional 12,459 shares during the last quarter.

Cheesecake Factory Company Profile

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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