Cheesecake Factory (NASDAQ:CAKE) Sets New 52-Week High - Here's Why

The Cheesecake Factory Incorporated (NASDAQ:CAKE - Get Free Report) reached a new 52-week high during trading on Tuesday . The stock traded as high as $59.14 and last traded at $58.84, with a volume of 1334129 shares trading hands. The stock had previously closed at $57.81.

Analysts Set New Price Targets

Several research firms have recently commented on CAKE. UBS Group raised their price objective on shares of Cheesecake Factory from $41.00 to $45.00 and gave the company a "sell" rating in a research note on Thursday, February 20th. Robert W. Baird raised their price objective on shares of Cheesecake Factory from $46.00 to $49.00 and gave the stock a "neutral" rating in a report on Thursday, May 1st. 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. Barclays lowered their price objective on shares of Cheesecake Factory from $50.00 to $46.00 and set an "underweight" rating on the stock in a research report on Tuesday, April 22nd. Finally, Argus set a $60.00 price objective on shares of Cheesecake Factory in a research report on Wednesday, May 14th. Four analysts have rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, Cheesecake Factory presently has a consensus rating of "Hold" and a consensus target price of $54.00.

Cheesecake Factory Stock Down 3.0%

The firm's 50 day moving average is $52.06 and its two-hundred day moving average is $50.96. The stock has a market cap of $2.82 billion, a price-to-earnings ratio of 17.82, a P/E/G ratio of 1.31 and a beta of 1.14. The company has a current ratio of 0.44, a quick ratio of 0.33 and a debt-to-equity ratio of 1.19.

Cheesecake Factory (NASDAQ:CAKE - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The restaurant operator reported $0.93 EPS for the quarter, beating analysts' consensus estimates of $0.81 by $0.12. Cheesecake Factory had a net margin of 4.38% and a return on equity of 45.89%. The company had revenue of $927.20 million during the quarter, compared to the consensus estimate of $927.17 million. During the same quarter in the prior year, the company posted $0.73 EPS. The company's quarterly revenue was up 4.0% compared to the same quarter last year. On average, sell-side analysts predict that The Cheesecake Factory Incorporated will post 3.71 EPS for the current year.

Cheesecake Factory Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 27th. Stockholders of record on Wednesday, May 14th were issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date of this dividend was Wednesday, May 14th. Cheesecake Factory's payout ratio is currently 33.86%.

Insider Transactions at Cheesecake Factory

In other Cheesecake Factory news, insider Keith Carango sold 50,500 shares of the company'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 transaction, the insider now owns 20,774 shares in the company, valued at $1,145,062.88. This represents a 70.85% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Scarlett May sold 20,800 shares of the stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $56.02, for a total value of $1,165,216.00. Following the transaction, the executive vice president now owns 22,872 shares of the company's stock, valued at approximately $1,281,289.44. This trade represents a 47.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 133,000 shares of company stock worth $7,456,992. 8.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Cheesecake Factory

Institutional investors and hedge funds have recently made changes to their positions in the company. Inspire Investing LLC increased its position in Cheesecake Factory by 156.2% in the first quarter. Inspire Investing LLC now owns 24,406 shares of the restaurant operator's stock worth $1,188,000 after buying an additional 14,880 shares during the period. Rhumbline Advisers boosted its stake in Cheesecake Factory by 0.5% during the first quarter. Rhumbline Advisers now owns 134,328 shares of the restaurant operator's stock valued at $6,536,000 after buying an additional 656 shares in the last quarter. Intech Investment Management LLC boosted its stake in Cheesecake Factory by 57.8% during the first quarter. Intech Investment Management LLC now owns 41,870 shares of the restaurant operator's stock valued at $2,037,000 after buying an additional 15,342 shares in the last quarter. Bayforest Capital Ltd acquired a new position in shares of Cheesecake Factory in the 1st quarter valued at $72,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Cheesecake Factory by 8.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 109,800 shares of the restaurant operator's stock valued at $5,343,000 after purchasing an additional 8,592 shares during the period. 94.48% of the stock is 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.