Cheesecake Factory (NASDAQ:CAKE) Price Target Cut to $46.00 by Analysts at Barclays

Cheesecake Factory (NASDAQ:CAKE - Get Free Report) had its price objective cut by Barclays from $50.00 to $46.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has an "underweight" rating on the restaurant operator's stock. Barclays's target price points to a potential downside of 8.28% from the company's previous close.

A number of other equities research analysts also recently commented on CAKE. Stephens reaffirmed an "overweight" rating and set a $60.00 target price on shares of Cheesecake Factory in a report on Thursday, February 20th. Wells Fargo & Company lowered their target price on Cheesecake Factory from $52.00 to $45.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 22nd. Oppenheimer upgraded Cheesecake Factory from a "market perform" rating to an "outperform" rating and set a $65.00 price objective on the stock in a research report on Tuesday, January 7th. Piper Sandler lifted their target price on shares of Cheesecake Factory from $47.00 to $51.00 and gave the company a "neutral" rating in a report on Thursday, February 20th. Finally, Morgan Stanley set a $39.00 price target on shares of Cheesecake Factory and gave the company an "underweight" rating in a research note on Monday, April 14th. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $52.06.

Cheesecake Factory Stock Performance

CAKE stock traded down $0.33 during trading on Tuesday, reaching $50.15. The company had a trading volume of 1,113,531 shares, compared to its average volume of 1,198,017. The company has a market cap of $2.48 billion, a price-to-earnings ratio of 15.67, a price-to-earnings-growth ratio of 1.31 and a beta of 1.24. Cheesecake Factory has a twelve month low of $33.44 and a twelve month high of $57.32. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.33 and a current ratio of 0.44. The firm has a 50-day simple moving average of $49.22 and a 200-day simple moving average of $48.83.

Cheesecake Factory (NASDAQ:CAKE - Get Free Report) last announced its quarterly earnings data on Wednesday, February 19th. The restaurant operator reported $1.04 earnings per share for the quarter, beating analysts' consensus estimates of $0.91 by $0.13. The firm had revenue of $920.96 million for the quarter, compared to analyst estimates of $912.67 million. Cheesecake Factory had a net margin of 4.38% and a return on equity of 45.89%. As a group, sell-side analysts expect that Cheesecake Factory will post 3.71 earnings per share for the current year.

Insiders Place Their Bets

In other Cheesecake Factory news, CFO Matthew Eliot Clark sold 29,000 shares of the business's stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $53.56, for a total transaction of $1,553,240.00. Following the completion of the transaction, the chief financial officer now owns 39,856 shares in the company, valued at $2,134,687.36. The trade was a 42.12 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman David Overton sold 100,000 shares of the firm's stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $53.08, for a total transaction of $5,308,000.00. Following the completion of the sale, the chairman now owns 3,092,147 shares in the company, valued at $164,131,162.76. The trade was a 3.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 8.10% of the company's stock.

Institutional Trading of Cheesecake Factory

A number of institutional investors have recently bought and sold shares of the business. First Eagle Investment Management LLC increased its stake in Cheesecake Factory by 9.7% in the fourth quarter. First Eagle Investment Management LLC now owns 360,718 shares of the restaurant operator's stock valued at $17,112,000 after purchasing an additional 32,000 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new stake in Cheesecake Factory in the fourth quarter valued at $489,000. Ruffer LLP acquired a new position in Cheesecake Factory in the fourth quarter valued at $9,401,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of Cheesecake Factory during the fourth quarter worth about $972,000. Finally, Norges Bank purchased a new stake in shares of Cheesecake Factory in the 4th quarter valued at about $6,513,000. 94.48% of the stock is owned by hedge funds and other institutional investors.

About Cheesecake Factory

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.