Shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE - Get Free Report) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $53.21 and last traded at $53.34, with a volume of 136071 shares changing hands. The stock had previously closed at $51.83.
Analyst Upgrades and Downgrades
Several equities research analysts have recently weighed in on the company. Bank of America upped their price target on Cheesecake Factory from $47.00 to $49.00 and gave the company a "neutral" rating in a research report on Wednesday, October 30th. UBS Group upped their price objective on Cheesecake Factory from $36.00 to $41.00 and gave the stock a "sell" rating in a report on Tuesday, January 7th. Oppenheimer upgraded shares of Cheesecake Factory from a "market perform" rating to an "outperform" rating and set a $65.00 price target on the stock in a research report on Tuesday, January 7th. Stephens boosted their price objective on shares of Cheesecake Factory from $51.00 to $57.00 and gave the stock an "overweight" rating in a report on Thursday, December 12th. Finally, Citigroup increased their target price on shares of Cheesecake Factory from $46.00 to $51.00 and gave the company a "buy" rating in a report on Friday, October 4th. Three investment 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. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $49.40.
Get Our Latest Research Report on Cheesecake Factory
Cheesecake Factory Price Performance
The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.33 and a current ratio of 0.44. The business has a 50-day simple moving average of $49.68 and a 200 day simple moving average of $43.65. The firm has a market cap of $2.87 billion, a P/E ratio of 21.35, a price-to-earnings-growth ratio of 1.29 and a beta of 1.50.
Cheesecake Factory (NASDAQ:CAKE - Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The restaurant operator reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.11. Cheesecake Factory had a net margin of 3.63% and a return on equity of 43.90%. The business had revenue of $865.50 million for the quarter, compared to analysts' expectations of $866.13 million. During the same quarter in the previous year, the business posted $0.39 earnings per share. The firm's revenue for the quarter was up 4.3% compared to the same quarter last year. On average, analysts anticipate that The Cheesecake Factory Incorporated will post 3.31 earnings per share for the current fiscal year.
Insider Activity at Cheesecake Factory
In other Cheesecake Factory news, insider Keith Carango sold 13,095 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $49.88, for a total value of $653,178.60. Following the completion of the transaction, the insider now owns 14,977 shares in the company, valued at approximately $747,052.76. This represents a 46.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 8.10% of the stock is owned by corporate insiders.
Institutional Trading of Cheesecake Factory
A number of hedge funds and other institutional investors have recently modified their holdings of CAKE. New York State Common Retirement Fund lifted its position in Cheesecake Factory by 2.3% during the 4th quarter. New York State Common Retirement Fund now owns 200,222 shares of the restaurant operator's stock valued at $9,499,000 after acquiring an additional 4,516 shares during the period. Venturi Wealth Management LLC lifted its holdings in shares of Cheesecake Factory by 1,149.5% during the fourth quarter. Venturi Wealth Management LLC now owns 1,312 shares of the restaurant operator's stock valued at $62,000 after purchasing an additional 1,207 shares during the last quarter. Truist Financial Corp boosted its position in shares of Cheesecake Factory by 3.3% in the 4th quarter. Truist Financial Corp now owns 8,045 shares of the restaurant operator's stock worth $382,000 after purchasing an additional 257 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of Cheesecake Factory by 5.2% in the 4th quarter. Principal Financial Group Inc. now owns 268,830 shares of the restaurant operator's stock worth $12,753,000 after purchasing an additional 13,235 shares in the last quarter. Finally, Golden State Wealth Management LLC purchased a new stake in shares of Cheesecake Factory in the 4th quarter worth approximately $25,000. 94.48% of the stock is owned by hedge funds and other institutional investors.
About Cheesecake Factory
(
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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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