Cheesecake Factory Inc (NASDAQ:CAKE) announced a quarterly dividend on Tuesday, October 30th, NASDAQ reports. Shareholders of record on Wednesday, November 14th will be given a dividend of 0.33 per share by the restaurant operator on Tuesday, November 27th. This represents a $1.32 annualized dividend and a yield of 2.52%. The ex-dividend date of this dividend is Tuesday, November 13th.
Cheesecake Factory has increased its dividend payment by an average of 20.2% annually over the last three years and has raised its dividend annually for the last 5 consecutive years. Cheesecake Factory has a dividend payout ratio of 54.3% indicating that its dividend is sufficiently covered by earnings. Analysts expect Cheesecake Factory to earn $2.68 per share next year, which means the company should continue to be able to cover its $1.32 annual dividend with an expected future payout ratio of 49.3%.
NASDAQ:CAKE opened at $52.29 on Thursday. Cheesecake Factory has a 52-week low of $42.72 and a 52-week high of $60.19. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.02 and a quick ratio of 0.38. The stock has a market cap of $2.36 billion, a price-to-earnings ratio of 20.11, a P/E/G ratio of 1.46 and a beta of 0.33.
Several research firms have issued reports on CAKE. ValuEngine raised Cheesecake Factory from a “hold” rating to a “buy” rating in a report on Wednesday, July 11th. Robert W. Baird boosted their price target on Cheesecake Factory from $55.00 to $58.00 and gave the company a “neutral” rating in a report on Wednesday, July 25th. Zacks Investment Research lowered Cheesecake Factory from a “hold” rating to a “strong sell” rating in a report on Friday, August 3rd. Morgan Stanley dropped their price objective on Cheesecake Factory from $51.00 to $50.00 and set an “equal weight” rating for the company in a research note on Wednesday, August 1st. Finally, Maxim Group reaffirmed a “hold” rating and issued a $57.00 price objective on shares of Cheesecake Factory in a research note on Wednesday, August 1st. Sixteen analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Cheesecake Factory presently has a consensus rating of “Hold” and a consensus target price of $52.93.
In other Cheesecake Factory news, Director Edie A. Ames acquired 500 shares of the company’s stock in a transaction dated Wednesday, August 22nd. The stock was purchased at an average price of $52.83 per share, with a total value of $26,415.00. Following the completion of the purchase, the director now directly owns 1,430 shares in the company, valued at approximately $75,546.90. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Cheryl Slomann sold 1,005 shares of the company’s stock in a transaction dated Monday, August 27th. The stock was sold at an average price of $52.94, for a total value of $53,204.70. Following the completion of the transaction, the insider now directly owns 12,106 shares of the company’s stock, 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.
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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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