Cheesecake Factory (NASDAQ:CAKE) Shares Pass Above Two Hundred Day Moving Average – Here’s Why

The Cheesecake Factory Incorporated (NASDAQ:CAKE) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $55.88 and traded as high as $57.68. Cheesecake Factory shares last traded at $56.99, with a volume of 1,196,463 shares changing hands.

Wall Street Analyst Weigh In

Several analysts recently commented on CAKE shares. Bank of America decreased their price target on shares of Cheesecake Factory from $61.00 to $56.00 and set a “neutral” rating for the company in a report on Wednesday, October 29th. Citigroup cut their target price on shares of Cheesecake Factory from $68.00 to $65.00 and set a “buy” rating for the company in a research report on Wednesday, October 29th. Oppenheimer set a $70.00 price target on shares of Cheesecake Factory in a report on Wednesday, October 29th. JPMorgan Chase & Co. dropped their price target on shares of Cheesecake Factory from $57.00 to $52.00 and set an “underweight” rating on the stock in a research note on Thursday, October 30th. Finally, Raymond James Financial reaffirmed an “outperform” rating and issued a $60.00 price target (down from $70.00) on shares of Cheesecake Factory in a research note on Wednesday, October 29th. Ten equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat, Cheesecake Factory has a consensus rating of “Hold” and an average price target of $59.35.

Cheesecake Factory Price Performance

The company has a debt-to-equity ratio of 1.32, a current ratio of 0.55 and a quick ratio of 0.47. The stock has a market capitalization of $2.87 billion, a P/E ratio of 15.12, a PEG ratio of 1.55 and a beta of 0.97. The stock’s fifty day moving average is $49.04 and its 200-day moving average is $55.86.

Cheesecake Factory (NASDAQ:CAKE) last announced its quarterly earnings results on Tuesday, October 28th. The restaurant operator reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.08. The company had revenue of $907.23 million during the quarter, compared to analysts’ expectations of $912.95 million. Cheesecake Factory had a return on equity of 46.35% and a net margin of 4.33%.The business’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.58 earnings per share. On average, equities analysts anticipate that The Cheesecake Factory Incorporated will post 3.71 earnings per share for the current year.

Cheesecake Factory Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 25th. Investors of record on Tuesday, November 11th were paid a $0.27 dividend. The ex-dividend date was Monday, November 10th. This represents a $1.08 dividend on an annualized basis and a yield of 1.9%. Cheesecake Factory’s dividend payout ratio (DPR) is presently 32.73%.

Institutional Investors Weigh In On Cheesecake Factory

A number of hedge funds have recently bought and sold shares of CAKE. Ameritas Advisory Services LLC bought a new position in shares of Cheesecake Factory in the second quarter worth about $28,000. Parkside Financial Bank & Trust grew its holdings in Cheesecake Factory by 39.2% in the 2nd quarter. Parkside Financial Bank & Trust now owns 632 shares of the restaurant operator’s stock valued at $40,000 after buying an additional 178 shares during the last quarter. Quarry LP grew its holdings in Cheesecake Factory by 3,343.8% in the 3rd quarter. Quarry LP now owns 1,102 shares of the restaurant operator’s stock valued at $60,000 after buying an additional 1,070 shares during the last quarter. Allworth Financial LP increased its position in Cheesecake Factory by 170.7% in the 3rd quarter. Allworth Financial LP now owns 1,164 shares of the restaurant operator’s stock worth $64,000 after buying an additional 734 shares during the period. Finally, Bayforest Capital Ltd acquired a new position in shares of Cheesecake Factory during the first quarter worth approximately $72,000. 94.48% of the stock is currently owned by institutional investors.

Cheesecake Factory Company Profile

The Cheesecake Factory Incorporated (NASDAQ:CAKE) is an American restaurant company and distributor renowned for its full-service casual-dining concept and specialty cheesecakes. Headquartered in Calabasas Hills, California, the company operates more than 200 restaurants under The Cheesecake Factory® brand across the United States, Puerto Rico and select international markets. In addition to sit-down dining, Cheesecake Factory franchised locations offer catering and take-out services, while a separate manufacturing arm supplies branded cheesecakes and desserts to supermarkets, hotels and other foodservice operators.

The origins of the brand trace back to a small cheesecake bakery founded in Detroit in the 1940s.