JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Cheesecake Factory (NASDAQ:CAKE) Stock

Cheesecake Factory (NASDAQ:CAKE - Get Free Report) had its price objective increased by stock analysts at JPMorgan Chase & Co. from $50.00 to $58.00 in a research note issued on Wednesday, Marketbeat.com reports. The firm presently has an "underweight" rating on the restaurant operator's stock. JPMorgan Chase & Co.'s price objective points to a potential downside of 5.31% from the company's previous close.

CAKE has been the subject of a number of other reports. Argus set a $60.00 price target on shares of Cheesecake Factory in a research note on Wednesday, May 14th. Morgan Stanley upped their target price on Cheesecake Factory from $39.00 to $40.00 and gave the stock an "underweight" rating in a research report on Thursday, May 1st. Wells Fargo & Company increased their price target on Cheesecake Factory from $45.00 to $50.00 and gave the company an "equal weight" rating in a research note on Thursday, May 1st. Citigroup dropped their price objective on Cheesecake Factory from $67.00 to $62.00 and set a "buy" rating on the stock in a research note on Tuesday, April 15th. Finally, Stephens reaffirmed an "overweight" rating and set a $60.00 target price on shares of Cheesecake Factory in a research note on Thursday, May 1st. Four research analysts have rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, Cheesecake Factory currently has a consensus rating of "Hold" and a consensus target price of $54.63.

Cheesecake Factory Stock Performance

Shares of NASDAQ CAKE traded up $1.47 during mid-day trading on Wednesday, hitting $61.25. The company had a trading volume of 939,279 shares, compared to its average volume of 1,230,769. The stock has a market cap of $3.03 billion, a price-to-earnings ratio of 19.20, a PEG ratio of 1.52 and a beta of 1.14. The firm's 50 day simple moving average is $54.13 and its two-hundred day simple moving average is $51.48. The company has a debt-to-equity ratio of 1.85, a current ratio of 0.53 and a quick ratio of 0.43. Cheesecake Factory has a 12 month low of $33.50 and a 12 month high of $61.32.

Cheesecake Factory (NASDAQ:CAKE - Get Free Report) last issued its quarterly earnings data 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 business had revenue of $927.20 million during the quarter, compared to analyst estimates of $927.17 million. During the same period in the prior year, the company posted $0.73 EPS. The business's revenue for the quarter was up 4.0% compared to the same quarter last year. As a group, equities research analysts forecast that Cheesecake Factory will post 3.71 earnings per share for the current year.

Insider Buying and Selling at Cheesecake Factory

In other news, EVP Scarlett May sold 18,800 shares of the stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $58.82, for a total transaction of $1,105,816.00. Following the transaction, the executive vice president now owns 22,872 shares of the company's stock, valued at approximately $1,345,331.04. This represents a 45.11% 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 that occurred on Wednesday, May 28th. The stock was sold at an average price of $55.12, for a total value of $2,783,560.00. Following the completion of the sale, the insider now owns 20,774 shares of the company's stock, valued at approximately $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 have sold 133,000 shares of company stock worth $7,456,992 over the last 90 days. 8.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Cheesecake Factory

A number of institutional investors have recently modified their holdings of the company. SBI Securities Co. Ltd. acquired a new position in Cheesecake Factory in the 4th quarter valued at $43,000. USA Financial Formulas bought a new position in shares of Cheesecake Factory in the first quarter worth about $49,000. Golden State Wealth Management LLC lifted its position 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 purchasing an additional 530 shares during the last quarter. Bayforest Capital Ltd bought a new stake in Cheesecake Factory during the 1st quarter valued at approximately $72,000. Finally, Smartleaf Asset Management LLC grew its holdings in Cheesecake Factory by 208.8% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,628 shares of the restaurant operator's stock valued at $125,000 after buying an additional 1,777 shares during the last quarter. Institutional investors own 94.48% of the company's stock.

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.