Cheesecake Factory (NASDAQ:CAKE) Hits New 52-Week High at $38.42

The Cheesecake Factory Incorporated (NASDAQ:CAKE - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $38.42 and last traded at $38.42, with a volume of 76731 shares trading hands. The stock had previously closed at $37.65.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on CAKE shares. Oppenheimer reissued a "market perform" rating on shares of Cheesecake Factory in a research report on Thursday, February 22nd. Raymond James raised shares of Cheesecake Factory from a "market perform" rating to an "outperform" rating and set a $42.00 price target for the company in a research note on Thursday. Piper Sandler lifted their price target on shares of Cheesecake Factory from $33.00 to $37.00 and gave the company a "neutral" rating in a research report on Thursday, February 22nd. Wells Fargo & Company increased their price objective on Cheesecake Factory from $35.00 to $36.00 and gave the stock an "equal weight" rating in a research report on Thursday. Finally, Citigroup raised shares of Cheesecake Factory from a "neutral" rating to a "buy" rating and upped their target price for the company from $38.00 to $47.00 in a research report on Friday. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $37.67.

Cheesecake Factory Trading Up 3.9 %

The company has a current ratio of 0.43, a quick ratio of 0.33 and a debt-to-equity ratio of 1.42. The company has a market cap of $1.99 billion, a PE ratio of 17.79, a P/E/G ratio of 1.17 and a beta of 1.48. The company has a fifty day simple moving average of $35.20 and a two-hundred day simple moving average of $34.09.

Cheesecake Factory (NASDAQ:CAKE - Get Free Report) last issued its quarterly earnings results on Wednesday, May 8th. The restaurant operator reported $0.73 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.63 by $0.10. Cheesecake Factory had a net margin of 3.07% and a return on equity of 42.15%. The company had revenue of $891.22 million during the quarter, compared to the consensus estimate of $890.49 million. During the same quarter in the previous year, the firm earned $0.61 earnings per share. The firm's quarterly revenue was up 2.9% on a year-over-year basis. Analysts anticipate that The Cheesecake Factory Incorporated will post 3.13 EPS for the current year.

Cheesecake Factory Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 4th. Shareholders of record on Wednesday, May 22nd will be paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 2.76%. The ex-dividend date of this dividend is Tuesday, May 21st. Cheesecake Factory's dividend payout ratio is presently 49.54%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. First Eagle Investment Management LLC lifted its stake in Cheesecake Factory by 4.8% during the first quarter. First Eagle Investment Management LLC now owns 400,099 shares of the restaurant operator's stock worth $14,464,000 after purchasing an additional 18,250 shares during the last quarter. State Board of Administration of Florida Retirement System grew its position in shares of Cheesecake Factory by 38.7% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 19,215 shares of the restaurant operator's stock valued at $673,000 after buying an additional 5,360 shares during the last quarter. William Blair Investment Management LLC boosted its holdings in shares of Cheesecake Factory by 0.8% in the first quarter. William Blair Investment Management LLC now owns 758,783 shares of the restaurant operator's stock valued at $27,430,000 after acquiring an additional 6,166 shares during the period. ProShare Advisors LLC increased its holdings in shares of Cheesecake Factory by 5.9% in the 1st quarter. ProShare Advisors LLC now owns 9,608 shares of the restaurant operator's stock valued at $347,000 after acquiring an additional 537 shares during the period. Finally, Avantax Advisory Services Inc. acquired a new stake in Cheesecake Factory during the 1st quarter worth $202,000. 94.48% of the stock is owned by institutional investors and hedge funds.

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.