Cheesecake Factory (NASDAQ:CAKE) Price Target Raised to $49.00

Cheesecake Factory (NASDAQ:CAKE - Get Free Report) had its price target hoisted by Robert W. Baird from $46.00 to $49.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a "neutral" rating on the restaurant operator's stock. Robert W. Baird's target price would indicate a potential downside of 2.60% from the stock's previous close.

A number of other research analysts also recently issued reports on the company. Piper Sandler upped their price target on Cheesecake Factory from $47.00 to $51.00 and gave the company a "neutral" rating in a report on Thursday, February 20th. JPMorgan Chase & Co. lowered their target price on shares of Cheesecake Factory from $55.00 to $48.00 and set an "underweight" rating on the stock in a research note on Thursday, March 20th. Barclays reduced their price target 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. Oppenheimer upgraded shares of Cheesecake Factory from a "market perform" rating to an "outperform" rating and set a $65.00 price objective on the stock in a research report on Tuesday, January 7th. Finally, Morgan Stanley set a $39.00 target price on shares of Cheesecake Factory and gave the stock an "underweight" rating in a report on Monday, April 14th. Four analysts have rated the stock with a sell rating, six have issued a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, Cheesecake Factory has a consensus rating of "Hold" and an average price target of $52.63.

Cheesecake Factory Stock Up 4.5 %

Shares of CAKE traded up $2.15 during trading hours on Thursday, hitting $50.31. The company had a trading volume of 1,673,046 shares, compared to its average volume of 1,224,553. The stock has a market capitalization of $2.49 billion, a price-to-earnings ratio of 15.72, a P/E/G ratio of 1.31 and a beta of 1.24. The firm has a fifty day moving average price of $48.74 and a 200-day moving average price of $49.17. Cheesecake Factory has a 52-week low of $33.50 and a 52-week high of $57.32. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.33 and a current ratio of 0.44.

Cheesecake Factory (NASDAQ:CAKE - Get Free Report) last issued its earnings results on Wednesday, April 30th. The restaurant operator reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.12. Cheesecake Factory had a net margin of 4.38% and a return on equity of 45.89%. The firm had revenue of $927.20 million for the quarter, compared to the consensus estimate of $927.17 million. During the same quarter in the prior year, the firm posted $0.73 earnings per share. The business's revenue was up 4.0% on a year-over-year basis. On average, equities research analysts forecast that Cheesecake Factory will post 3.71 EPS for the current fiscal year.

Insider Buying and Selling at Cheesecake Factory

In other news, CFO Matthew Eliot Clark sold 29,000 shares of the business's stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $53.56, for a total value of $1,553,240.00. Following the transaction, the chief financial officer now owns 39,856 shares of the company's stock, valued at approximately $2,134,687.36. The trade was a 42.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman David Overton sold 100,000 shares of the firm's stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $53.08, for a total transaction of $5,308,000.00. Following the transaction, the chairman now directly owns 3,092,147 shares of the company's stock, valued at $164,131,162.76. The trade was a 3.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 8.10% of the company's stock.

Hedge Funds Weigh In On Cheesecake Factory

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in Cheesecake Factory by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 5,443,458 shares of the restaurant operator's stock valued at $258,238,000 after purchasing an additional 21,096 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in shares of Cheesecake Factory by 64.1% in the 1st quarter. Victory Capital Management Inc. now owns 1,766,131 shares of the restaurant operator's stock worth $85,940,000 after purchasing an additional 689,784 shares during the period. Invesco Ltd. increased its position in shares of Cheesecake Factory by 12.4% during the 4th quarter. Invesco Ltd. now owns 1,412,483 shares of the restaurant operator's stock valued at $67,008,000 after purchasing an additional 155,614 shares during the last quarter. American Century Companies Inc. raised its holdings in Cheesecake Factory by 15.8% during the 4th quarter. American Century Companies Inc. now owns 1,363,051 shares of the restaurant operator's stock valued at $64,663,000 after buying an additional 186,026 shares during the period. Finally, Hennessy Advisors Inc. purchased a new stake in Cheesecake Factory during the 4th quarter valued at $63,114,000. 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.