Cheesecake Factory (NASDAQ:CAKE) Reaches New 1-Year Low at $36.07

Cheesecake Factory Inc (NASDAQ:CAKE)’s stock price hit a new 52-week low during trading on Tuesday . The stock traded as low as $36.07 and last traded at $36.30, with a volume of 276313 shares changing hands. The stock had previously closed at $36.91.

Several equities analysts recently commented on the stock. UBS Group assumed coverage on shares of Cheesecake Factory in a report on Friday, April 26th. They set a “neutral” rating and a $51.00 price target on the stock. Raymond James cut their price target on shares of Cheesecake Factory from $56.00 to $53.00 and set an “outperform” rating on the stock in a report on Monday, July 15th. Wells Fargo & Co cut their price target on shares of Cheesecake Factory from $47.00 to $46.00 and set a “market perform” rating on the stock in a report on Thursday, August 1st. Deutsche Bank assumed coverage on shares of Cheesecake Factory in a report on Friday, June 28th. They set a “hold” rating and a $46.00 price target on the stock. Finally, Barclays upped their price target on shares of Cheesecake Factory from $40.00 to $42.00 and gave the company an “underweight” rating in a report on Thursday, May 2nd. Three analysts have rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $49.25.

The company has a market capitalization of $1.60 billion, a PE ratio of 15.03, a PEG ratio of 1.08 and a beta of 0.41. The company has a current ratio of 0.36, a quick ratio of 0.26 and a debt-to-equity ratio of 1.81. The firm’s 50-day simple moving average is $41.89 and its 200-day simple moving average is $45.40.

Cheesecake Factory (NASDAQ:CAKE) last released its quarterly earnings data on Wednesday, July 31st. The restaurant operator reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.01. The company had revenue of $602.65 million during the quarter, compared to analysts’ expectations of $612.16 million. Cheesecake Factory had a net margin of 4.52% and a return on equity of 21.31%. The firm’s quarterly revenue was up 2.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.61 EPS. As a group, analysts anticipate that Cheesecake Factory Inc will post 2.62 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 27th. Shareholders of record on Wednesday, August 14th will be given a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 3.94%. This is a boost from Cheesecake Factory’s previous quarterly dividend of $0.33. The ex-dividend date is Tuesday, August 13th. Cheesecake Factory’s payout ratio is 59.26%.

In related news, Director Laurence B. Mindel acquired 2,500 shares of the stock in a transaction on Monday, August 12th. The stock was bought at an average cost of $39.04 per share, with a total value of $97,600.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Edie A. Ames acquired 750 shares of the stock in a transaction on Tuesday, August 6th. The stock was bought at an average cost of $42.18 per share, with a total value of $31,635.00. Following the completion of the transaction, the director now owns 3,880 shares in the company, valued at $163,658.40. The disclosure for this purchase can be found here. 8.50% of the stock is owned by insiders.

Institutional investors and hedge funds have recently made changes to their positions in the company. Advisory Services Network LLC lifted its position in shares of Cheesecake Factory by 379.3% in the 1st quarter. Advisory Services Network LLC now owns 647 shares of the restaurant operator’s stock worth $32,000 after purchasing an additional 512 shares during the period. Tower Research Capital LLC TRC lifted its position in shares of Cheesecake Factory by 8,033.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 732 shares of the restaurant operator’s stock worth $32,000 after purchasing an additional 723 shares during the period. Quadrant Capital Group LLC lifted its position in shares of Cheesecake Factory by 1,134.1% in the 1st quarter. Quadrant Capital Group LLC now owns 1,012 shares of the restaurant operator’s stock worth $49,000 after purchasing an additional 930 shares during the period. Prestige Wealth Management Group LLC purchased a new stake in shares of Cheesecake Factory in the 2nd quarter worth approximately $69,000. Finally, MUFG Securities EMEA plc purchased a new stake in shares of Cheesecake Factory in the 2nd quarter worth approximately $120,000. 98.26% of the stock is owned by hedge funds and other institutional investors.

Cheesecake Factory Company Profile (NASDAQ:CAKE)

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.

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