Cheesecake Factory (NASDAQ:CAKE) Given New $32.00 Price Target at Barclays

Cheesecake Factory (NASDAQ:CAKE - Free Report) had its target price reduced by Barclays from $33.00 to $32.00 in a report released on Thursday morning, Benzinga reports. They currently have an underweight rating on the restaurant operator's stock.

Several other analysts also recently weighed in on CAKE. JPMorgan Chase & Co. downgraded shares of Cheesecake Factory from a neutral rating to an underweight rating and set a $33.00 price objective for the company. in a research report on Tuesday, January 23rd. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Cheesecake Factory from $37.00 to $38.00 and gave the stock a hold rating in a research report on Thursday. Stephens restated an overweight rating and set a $44.00 price objective on shares of Cheesecake Factory in a research report on Thursday. Wells Fargo & Company boosted their price objective on shares of Cheesecake Factory from $35.00 to $36.00 and gave the stock an equal weight rating in a research report on Thursday. Finally, Robert W. Baird boosted their price objective on shares of Cheesecake Factory from $32.00 to $37.00 and gave the stock a neutral rating in a research report on Thursday. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Cheesecake Factory presently has an average rating of Hold and an average target price of $36.50.

Cheesecake Factory Stock Up 6.2 %

NASDAQ CAKE traded up $2.09 on Thursday, hitting $36.06. 3,336,597 shares of the stock were exchanged, compared to its average volume of 860,488. The company has a quick ratio of 0.37, a current ratio of 0.46 and a debt-to-equity ratio of 1.48. Cheesecake Factory has a fifty-two week low of $28.58 and a fifty-two week high of $38.19. The company has a market cap of $1.84 billion, a PE ratio of 17.78, a PEG ratio of 1.12 and a beta of 1.48. The company has a 50-day moving average price of $35.14 and a 200-day moving average price of $33.97.

Cheesecake Factory (NASDAQ:CAKE - Get Free Report) last posted its quarterly earnings results on Wednesday, May 8th. The restaurant operator reported $0.73 EPS for the quarter, topping the consensus estimate of $0.63 by $0.10. Cheesecake Factory had a net margin of 2.95% and a return on equity of 41.66%. The company had revenue of $891.22 million during the quarter, compared to analysts' expectations of $890.49 million. During the same quarter in the previous year, the business posted $0.61 EPS. The firm's revenue was up 2.9% on a year-over-year basis. Sell-side analysts anticipate that Cheesecake Factory will post 3.06 EPS for the current fiscal year.

Cheesecake Factory Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 19th. Shareholders of record on Wednesday, March 6th were given a dividend of $0.27 per share. The ex-dividend date of this dividend was Tuesday, March 5th. This represents a $1.08 dividend on an annualized basis and a yield of 3.00%. Cheesecake Factory's payout ratio is currently 52.43%.

Hedge Funds Weigh In On Cheesecake Factory

Large investors have recently bought and sold shares of the company. Studio Investment Management LLC acquired a new position in shares of Cheesecake Factory during the 3rd quarter worth $25,000. Allspring Global Investments Holdings LLC boosted its stake in shares of Cheesecake Factory by 2,360.7% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 689 shares of the restaurant operator's stock worth $25,000 after purchasing an additional 661 shares during the last quarter. Ables Iannone Moore & Associates Inc. purchased a new position in shares of Cheesecake Factory during the 4th quarter worth about $26,000. Quadrant Capital Group LLC lifted its holdings in shares of Cheesecake Factory by 48.4% during the 4th quarter. Quadrant Capital Group LLC now owns 1,566 shares of the restaurant operator's stock worth $55,000 after acquiring an additional 511 shares during the period. Finally, DekaBank Deutsche Girozentrale purchased a new position in shares of Cheesecake Factory during the 3rd quarter worth about $70,000. Hedge funds and other 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.