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Cheesecake Factory (NASDAQ:CAKE) Hits New 52-Week High - Time to Buy?

Cheesecake Factory logo with Retail/Wholesale background

The Cheesecake Factory Incorporated (NASDAQ:CAKE - Get Free Report) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $62.72 and last traded at $62.73, with a volume of 52361 shares changing hands. The stock had previously closed at $62.25.

Analyst Upgrades and Downgrades

CAKE has been the subject of a number of analyst reports. JPMorgan Chase & Co. raised their target price on shares of Cheesecake Factory from $50.00 to $58.00 and gave the company an "underweight" rating in a research report on Wednesday, June 25th. Morgan Stanley boosted their target price on shares of Cheesecake Factory from $39.00 to $40.00 and gave the company an "underweight" rating in a research report on Thursday, May 1st. Stephens reaffirmed an "overweight" rating and issued a $60.00 price target on shares of Cheesecake Factory in a research note on Thursday, May 1st. Robert W. Baird boosted their price objective on shares of Cheesecake Factory from $46.00 to $49.00 and gave the company a "neutral" rating in a research report on Thursday, May 1st. Finally, Argus set a $60.00 price target on shares of Cheesecake Factory in a report on Wednesday, May 14th. Four equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, Cheesecake Factory currently has an average rating of "Hold" and a consensus target price of $54.63.

View Our Latest Analysis on CAKE

Cheesecake Factory Stock Performance

The company has a market cap of $3.23 billion, a PE ratio of 20.44, a price-to-earnings-growth ratio of 1.66 and a beta of 1.16. The company's 50 day moving average price is $55.50 and its 200-day moving average price is $51.93. The company has a debt-to-equity ratio of 1.85, a quick ratio of 0.43 and a current ratio of 0.53.

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

Cheesecake Factory Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 27th. Shareholders of record on Wednesday, May 14th were issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 1.66%. The ex-dividend date of this dividend was Wednesday, May 14th. Cheesecake Factory's dividend payout ratio (DPR) is presently 33.86%.

Insider Transactions at Cheesecake Factory

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. SBI Securities Co. Ltd. purchased a new position in Cheesecake Factory during the fourth quarter valued at $43,000. USA Financial Formulas bought a new stake in shares of Cheesecake Factory in the 1st quarter worth approximately $49,000. Golden State Wealth Management LLC raised its stake in Cheesecake Factory by 100.0% during the first quarter. Golden State Wealth Management LLC now owns 1,060 shares of the restaurant operator's stock valued at $52,000 after buying an additional 530 shares during the last quarter. Bayforest Capital Ltd purchased a new stake in shares of Cheesecake Factory in the first quarter worth $72,000. Finally, Smartleaf Asset Management LLC raised its position in shares of Cheesecake Factory by 208.8% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,628 shares of the restaurant operator's stock worth $125,000 after purchasing an additional 1,777 shares during the last quarter. Hedge funds and other institutional investors own 94.48% of the company's stock.

About Cheesecake Factory

(Get Free Report)

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.

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