Cheesecake Factory (NASDAQ:CAKE) Given a $45.00 Price Target by Morgan Stanley Analysts

Morgan Stanley set a $45.00 price objective on Cheesecake Factory (NASDAQ:CAKE - Free Report) in a research note published on Monday morning, Marketbeat reports. The firm currently has an underweight rating on the restaurant operator's stock.

CAKE has been the subject of a number of other reports. Citigroup reduced their price target on shares of Cheesecake Factory from $67.00 to $62.00 and set a "buy" rating for the company in a research note on Tuesday, April 15th. JPMorgan Chase & Co. boosted their price target on shares of Cheesecake Factory from $50.00 to $58.00 and gave the stock an "underweight" rating in a research report on Wednesday, June 25th. Robert W. Baird raised 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. Barclays cut their target price on shares of Cheesecake Factory from $50.00 to $46.00 and set an "underweight" rating for the company in a research note on Tuesday, April 22nd. Finally, Argus set a $60.00 price target on shares of Cheesecake Factory in a research report on Wednesday, May 14th. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $55.75.

Cheesecake Factory Stock Performance

Shares of CAKE traded down $0.47 during midday trading on Monday, hitting $64.30. 1,203,089 shares of the stock traded hands, compared to its average volume of 1,435,456. 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 has a 1-year low of $33.50 and a 1-year high of $65.99. The business's 50 day moving average price is $57.51 and its two-hundred day moving average price is $52.74. The firm has a market capitalization of $3.18 billion, a PE ratio of 20.16, a price-to-earnings-growth ratio of 1.65 and a beta of 1.16.

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

Cheesecake Factory Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 27th. Stockholders of record on Wednesday, May 14th were paid 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 (DPR) is 33.86%.

Insider Activity

In related news, CFO Matthew Eliot Clark sold 42,900 shares of the stock in a transaction that occurred on Tuesday, May 27th. The stock was 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 $2,289,168. This represents a 51.21% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Scarlett May sold 20,800 shares of the firm's stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $56.02, for a total transaction of $1,165,216.00. Following the completion of the sale, the executive vice president owned 22,872 shares in the company, valued at approximately $1,281,289.44. The trade was a 47.63% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 133,000 shares of company stock worth $7,456,992. 8.10% of the stock is owned by corporate insiders.

Institutional Trading of Cheesecake Factory

Hedge funds have recently bought and sold shares of the stock. USA Financial Formulas bought a new stake in shares of Cheesecake Factory in the first quarter valued at about $49,000. Golden State Wealth Management LLC increased 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 acquiring an additional 530 shares during the period. SBI Securities Co. Ltd. raised its holdings in Cheesecake Factory by 38.5% in the 1st quarter. SBI Securities Co. Ltd. now owns 1,244 shares of the restaurant operator's stock valued at $61,000 after acquiring an additional 346 shares in the last quarter. Bayforest Capital Ltd bought a new stake in shares of Cheesecake Factory in the 1st quarter worth approximately $72,000. Finally, Smartleaf Asset Management LLC grew 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 purchasing an additional 640 shares in the last quarter. 94.48% of the stock is owned by institutional investors.

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.