Cheesecake Factory (NASDAQ:CAKE) Stock Price Crosses Above 200 Day Moving Average – Here’s Why

The Cheesecake Factory Incorporated (NASDAQ:CAKE)’s stock price crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $55.82 and traded as high as $60.79. Cheesecake Factory shares last traded at $59.31, with a volume of 1,369,164 shares trading hands.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CAKE. Wells Fargo & Company lowered their price target on shares of Cheesecake Factory from $60.00 to $55.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 29th. JPMorgan Chase & Co. cut their price target on shares of Cheesecake Factory from $57.00 to $52.00 and set an “underweight” rating for the company in a report on Thursday, October 30th. Barclays boosted their price target on shares of Cheesecake Factory from $48.00 to $51.00 and gave the company an “underweight” rating in a research report on Wednesday, January 7th. Jefferies Financial Group set a $70.00 price objective on Cheesecake Factory and gave the stock a “buy” rating in a research report on Wednesday, October 29th. Finally, Bank of America reduced their target price on Cheesecake Factory from $61.00 to $56.00 and set a “neutral” rating for the company in a research report on Wednesday, October 29th. Nine analysts have rated the stock with a Buy rating, six have assigned a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $59.35.

Cheesecake Factory Stock Performance

The stock has a market cap of $2.96 billion, a PE ratio of 17.97, a P/E/G ratio of 1.60 and a beta of 0.97. The company has a fifty day moving average price of $50.29 and a 200 day moving average price of $55.77. The company has a quick ratio of 0.47, a current ratio of 0.55 and a debt-to-equity ratio of 1.32.

Cheesecake Factory (NASDAQ:CAKE) last announced its quarterly earnings results on Tuesday, October 28th. The restaurant operator reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.08. The business had revenue of $907.23 million for 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% on a year-over-year basis. During the same period in the previous year, the firm earned $0.58 EPS. Analysts expect 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. Stockholders of record on Tuesday, November 11th were issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date was Monday, November 10th. Cheesecake Factory’s dividend payout ratio is currently 32.73%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Invesco Ltd. grew its position in shares of Cheesecake Factory by 24.7% in the 3rd quarter. Invesco Ltd. now owns 2,057,118 shares of the restaurant operator’s stock worth $112,401,000 after buying an additional 407,223 shares during the last quarter. American Century Companies Inc. lifted its stake in Cheesecake Factory by 5.6% in the third quarter. American Century Companies Inc. now owns 1,800,388 shares of the restaurant operator’s stock worth $98,373,000 after acquiring an additional 96,074 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Cheesecake Factory by 2.4% in the third quarter. Dimensional Fund Advisors LP now owns 1,207,196 shares of the restaurant operator’s stock valued at $65,965,000 after acquiring an additional 28,361 shares in the last quarter. Voloridge Investment Management LLC increased its position in Cheesecake Factory by 54.0% during the 3rd quarter. Voloridge Investment Management LLC now owns 747,046 shares of the restaurant operator’s stock valued at $40,819,000 after purchasing an additional 262,081 shares during the period. Finally, Woodline Partners LP raised its holdings in Cheesecake Factory by 1,059.3% in the 3rd quarter. Woodline Partners LP now owns 618,056 shares of the restaurant operator’s stock worth $33,771,000 after purchasing an additional 564,744 shares in the last quarter. Institutional investors own 94.48% of the company’s stock.

About Cheesecake Factory

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.