Robert W. Baird Cuts Cheesecake Factory (NASDAQ:CAKE) Price Target to $46.00

Cheesecake Factory (NASDAQ:CAKE - Get Free Report) had its price target decreased by analysts at Robert W. Baird from $50.00 to $46.00 in a report issued on Monday,Benzinga reports. The brokerage currently has a "neutral" rating on the restaurant operator's stock. Robert W. Baird's target price would suggest a potential downside of 0.17% from the company's current price.

Other equities research analysts have also recently issued research reports about the company. Citigroup reissued a "buy" rating on shares of Cheesecake Factory in a research note on Tuesday, February 4th. Wedbush raised their price target on shares of Cheesecake Factory from $59.00 to $61.00 and gave the company an "outperform" rating in a report on Thursday, February 20th. Oppenheimer upgraded shares of Cheesecake Factory from a "market perform" rating to an "outperform" rating and set a $65.00 price objective for the company in a report on Tuesday, January 7th. Stephens restated an "overweight" rating and set a $60.00 target price on shares of Cheesecake Factory in a report on Thursday, February 20th. Finally, Piper Sandler upped their price target on Cheesecake Factory from $47.00 to $51.00 and gave the stock a "neutral" rating in a research note on Thursday, February 20th. Four investment analysts have rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Cheesecake Factory presently has an average rating of "Hold" and an average target price of $52.13.

Cheesecake Factory Stock Up 1.7 %

CAKE stock traded up $0.77 during midday trading on Monday, reaching $46.08. The company had a trading volume of 1,170,578 shares, compared to its average volume of 1,179,271. The company has a 50 day moving average of $50.18 and a two-hundred day moving average of $48.26. The company has a market capitalization of $2.38 billion, a P/E ratio of 14.40, a PEG ratio of 1.31 and a beta of 1.24. Cheesecake Factory has a 1 year low of $33.05 and a 1 year high of $57.32. The company has a current ratio of 0.44, a quick ratio of 0.33 and a debt-to-equity ratio of 1.19.

Cheesecake Factory (NASDAQ:CAKE - Get Free Report) last announced its quarterly earnings data on Wednesday, February 19th. The restaurant operator reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.13. Cheesecake Factory had a return on equity of 45.89% and a net margin of 4.38%. The business had revenue of $920.96 million during the quarter, compared to analyst estimates of $912.67 million. On average, equities research analysts expect that Cheesecake Factory will post 3.71 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Matthew Eliot Clark sold 29,000 shares of the company's stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $53.56, for a total value of $1,553,240.00. Following the completion of the transaction, the chief financial officer now directly owns 39,856 shares in the company, valued at approximately $2,134,687.36. This represents a 42.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman David Overton sold 100,000 shares of the business'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 completion of the sale, the chairman now directly owns 3,092,147 shares in the company, valued at $164,131,162.76. This trade represents a 3.13 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 8.10% of the company's stock.

Institutional Investors Weigh In On Cheesecake Factory

Institutional investors have recently added to or reduced their stakes in the stock. Golden State Wealth Management LLC acquired a new stake in Cheesecake Factory in the 4th quarter valued at $25,000. Versant Capital Management Inc boosted its position in Cheesecake Factory by 108.1% in the fourth quarter. Versant Capital Management Inc now owns 616 shares of the restaurant operator's stock valued at $29,000 after buying an additional 320 shares in the last quarter. SBI Securities Co. Ltd. bought a new stake in Cheesecake Factory during the fourth quarter worth about $43,000. Venturi Wealth Management LLC increased 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 worth $62,000 after buying an additional 1,207 shares in the last quarter. Finally, KBC Group NV boosted its holdings in shares of Cheesecake Factory by 46.9% in the 4th quarter. KBC Group NV now owns 2,321 shares of the restaurant operator's stock worth $110,000 after acquiring an additional 741 shares in the last quarter. 94.48% of the stock is owned by institutional investors and hedge funds.

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.