The Cheesecake Factory Incorporated (CAKE) Shares Gap Down on Analyst Downgrade
The Cheesecake Factory Incorporated (NASDAQ:CAKE) gapped down before the market opened on Friday after Barclays PLC lowered their price target on the stock from $46.00 to $43.00. The stock had previously closed at $48.15, but opened at $45.00. Barclays PLC currently has an equal weight rating on the stock. The Cheesecake Factory shares last traded at $43.56, with a volume of 1206379 shares.
CAKE has been the topic of a number of other reports. Robert W. Baird set a $49.00 target price on The Cheesecake Factory and gave the stock a “hold” rating in a research report on Thursday, August 3rd. Maxim Group decreased their target price on The Cheesecake Factory from $57.00 to $54.00 and set a “buy” rating on the stock in a research report on Thursday. BTIG Research reissued a “buy” rating and set a $50.00 target price on shares of The Cheesecake Factory in a research report on Wednesday, September 20th. Nomura decreased their target price on The Cheesecake Factory from $44.00 to $43.00 and set a “neutral” rating on the stock in a research report on Friday, October 27th. Finally, Stephens decreased their target price on The Cheesecake Factory from $48.00 to $45.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 11th. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have assigned a buy rating to the company. The Cheesecake Factory presently has a consensus rating of “Hold” and a consensus target price of $49.41.
Several large investors have recently bought and sold shares of the company. Boston Partners bought a new position in shares of The Cheesecake Factory in the third quarter valued at approximately $1,642,000. Prudential Financial Inc. raised its stake in shares of The Cheesecake Factory by 286.4% in the third quarter. Prudential Financial Inc. now owns 117,429 shares of the restaurant operator’s stock valued at $4,946,000 after acquiring an additional 87,040 shares during the last quarter. USA Financial Portformulas Corp bought a new position in shares of The Cheesecake Factory in the third quarter valued at approximately $599,000. Gamco Investors INC. ET AL raised its stake in shares of The Cheesecake Factory by 5.7% in the third quarter. Gamco Investors INC. ET AL now owns 673,853 shares of the restaurant operator’s stock valued at $28,383,000 after acquiring an additional 36,250 shares during the last quarter. Finally, Legato Capital Management LLC raised its stake in shares of The Cheesecake Factory by 36.9% in the third quarter. Legato Capital Management LLC now owns 21,634 shares of the restaurant operator’s stock valued at $912,000 after acquiring an additional 5,836 shares during the last quarter. Institutional investors own 97.52% of the company’s stock.
The company has a market cap of $1,982.77, a P/E ratio of 15.45 and a beta of 0.29.
The Cheesecake Factory (NASDAQ:CAKE) last posted its earnings results on Wednesday, November 1st. The restaurant operator reported $0.56 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.04). The Cheesecake Factory had a net margin of 5.76% and a return on equity of 21.65%. The firm had revenue of $555.40 million during the quarter, compared to the consensus estimate of $566.09 million. During the same quarter last year, the firm posted $0.70 EPS. The business’s revenue was down .8% on a year-over-year basis. research analysts forecast that The Cheesecake Factory Incorporated will post 2.61 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 28th. Investors of record on Wednesday, November 15th will be given a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 2.66%. The ex-dividend date of this dividend is Tuesday, November 14th. The Cheesecake Factory’s dividend payout ratio (DPR) is presently 42.80%.
The Cheesecake Factory Company Profile
The Cheesecake Factory Incorporated is engaged in the restaurant and bakery business. As of March 2, 2017, the Company operated 208 Company-owned restaurants: 194 under The Cheesecake Factory mark, 13 under the Grand Lux Cafe mark and one under the Rock Sugar Pan Asian Kitchen mark. The Company’s segments include The Cheesecake Factory restaurants, and other.
Receive News & Ratings for The Cheesecake Factory Incorporated Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Cheesecake Factory Incorporated and related companies with Analyst Ratings Network's FREE daily email newsletter.