Cheesecake Factory (NASDAQ:CAKE) Earns "Neutral" Rating from The Goldman Sachs Group

The Goldman Sachs Group restated their neutral rating on shares of Cheesecake Factory (NASDAQ:CAKE - Free Report) in a report issued on Thursday morning, Marketbeat.com reports. The Goldman Sachs Group currently has a $67.00 target price on the restaurant operator's stock, up from their previous target price of $66.00.

A number of other equities research analysts have also weighed in on CAKE. Morgan Stanley lifted their price objective on Cheesecake Factory from $39.00 to $40.00 and gave the company an "underweight" rating in a report on Thursday, May 1st. Wells Fargo & Company lifted their price objective on Cheesecake Factory from $45.00 to $50.00 and gave the company an "equal weight" rating in a report on Thursday, May 1st. Citigroup lowered their price objective on Cheesecake Factory from $67.00 to $62.00 and set a "buy" rating on the stock in a report on Tuesday, April 15th. Argus set a $60.00 price objective on Cheesecake Factory in a report on Wednesday, May 14th. Finally, JPMorgan Chase & Co. lifted their price objective on Cheesecake Factory from $50.00 to $58.00 and gave the company an "underweight" rating in a report on Wednesday, June 25th. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat.com, Cheesecake Factory has an average rating of "Hold" and a consensus price target of $55.44.

Cheesecake Factory Stock Performance

Shares of NASDAQ CAKE traded up $0.28 during midday trading on Thursday, reaching $64.45. 551,777 shares of the company were exchanged, compared to its average volume of 1,249,844. The company has a current ratio of 0.53, a quick ratio of 0.43 and a debt-to-equity ratio of 1.85. Cheesecake Factory has a 1 year low of $33.50 and a 1 year high of $65.99. The stock has a fifty day simple moving average of $57.22 and a 200 day simple moving average of $52.56. The stock has a market cap of $3.19 billion, a P/E ratio of 20.20, a PEG ratio of 1.63 and a beta of 1.16.

Cheesecake Factory (NASDAQ:CAKE - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The restaurant operator reported $0.93 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.81 by $0.12. Cheesecake Factory had a return on equity of 46.06% and a net margin of 4.33%. The firm had revenue of $927.20 million for the quarter, compared to analyst estimates of $927.17 million. During the same quarter last year, the company posted $0.73 earnings per share. The business's revenue was up 4.0% on a year-over-year basis. On average, research analysts forecast that Cheesecake Factory will post 3.71 earnings per share for the current fiscal year.

Cheesecake Factory Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 27th. Investors of record on Wednesday, May 14th were given a dividend of $0.27 per share. The ex-dividend date of this dividend was Wednesday, May 14th. This represents a $1.08 annualized dividend and a dividend yield of 1.68%. Cheesecake Factory's dividend payout ratio is currently 33.86%.

Insider Buying and Selling

In other Cheesecake Factory news, CFO Matthew Eliot Clark sold 42,900 shares of the business's stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $56.00, for a total value of $2,402,400.00. Following the completion of the transaction, the chief financial officer directly owned 40,878 shares in the company, valued at approximately $2,289,168. The trade was a 51.21% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Keith Carango sold 50,500 shares of the business's stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $55.12, for a total value of $2,783,560.00. Following the completion of the transaction, the insider owned 20,774 shares of the company's stock, valued at $1,145,062.88. This trade represents a 70.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 133,000 shares of company stock worth $7,456,992 in the last ninety days. Insiders own 8.40% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. USA Financial Formulas acquired a new position in Cheesecake Factory in the 1st quarter valued at $49,000. Golden State Wealth Management LLC increased its holdings in shares of Cheesecake Factory by 100.0% during the 1st quarter. Golden State Wealth Management LLC now owns 1,060 shares of the restaurant operator's stock worth $52,000 after buying an additional 530 shares during the last quarter. SBI Securities Co. Ltd. increased its holdings in shares of Cheesecake Factory by 38.5% during the 1st quarter. SBI Securities Co. Ltd. now owns 1,244 shares of the restaurant operator's stock worth $61,000 after buying an additional 346 shares during the last quarter. Bayforest Capital Ltd acquired a new stake in shares of Cheesecake Factory during the 1st quarter worth $72,000. Finally, Smartleaf Asset Management LLC increased its holdings in shares of Cheesecake Factory by 24.4% during the 1st quarter. Smartleaf Asset Management LLC now owns 3,268 shares of the restaurant operator's stock worth $162,000 after buying an additional 640 shares during the last quarter. 94.48% of the stock is currently owned by institutional investors and hedge funds.

Cheesecake Factory Company Profile

The Cheesecake Factory Incorporated operates and licenses restaurants in the United States and Canada. The company operates bakeries that produce cheesecakes and other baked products for its restaurants, international licensees, third-party bakery customers, external foodservice operators, retailers, and distributors.