Cheesecake Factory (NASDAQ:CAKE) Price Target Raised to $51.00

Cheesecake Factory (NASDAQ:CAKE - Free Report) had its price objective increased by Piper Sandler from $47.00 to $51.00 in a research report sent to investors on Thursday morning,Benzinga reports. Piper Sandler currently has a neutral rating on the restaurant operator's stock.

Several other research analysts have also recently weighed in on the company. Jefferies Financial Group raised their target price on Cheesecake Factory from $49.00 to $58.00 and gave the company a "buy" rating in a research note on Monday, December 16th. Bank of America increased 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. The Goldman Sachs Group increased their price target on Cheesecake Factory from $56.00 to $64.00 and gave the company a "buy" rating in a research report on Thursday, February 6th. Oppenheimer upgraded Cheesecake Factory from a "market perform" rating to an "outperform" rating and set a $65.00 price target for the company in a research report on Tuesday, January 7th. Finally, UBS Group increased their price target on Cheesecake Factory from $36.00 to $41.00 and gave the company a "sell" rating in a research report on Tuesday, January 7th. Four analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $52.19.

Cheesecake Factory Price Performance

CAKE stock traded down $0.32 during trading hours on Thursday, hitting $54.65. 2,232,702 shares of the stock traded hands, compared to its average volume of 1,442,655. The stock has a 50-day simple moving average of $51.16 and a 200 day simple moving average of $45.46. Cheesecake Factory has a one year low of $33.05 and a one year high of $57.32. The company has a market cap of $2.79 billion, a P/E ratio of 17.08, a P/E/G ratio of 1.30 and a beta of 1.51. 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 earnings results on Wednesday, February 19th. The restaurant operator reported $1.04 earnings per share for the quarter, beating 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 analysts' expectations of $912.67 million. Equities analysts forecast that Cheesecake Factory will post 3.7 earnings per share for the current year.

Cheesecake Factory Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 18th. Investors of record on Wednesday, March 5th will be paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date of this dividend is Wednesday, March 5th. Cheesecake Factory's payout ratio is 33.75%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Quest Partners LLC bought a new position in shares of Cheesecake Factory in the 3rd quarter valued at approximately $973,000. Principal Financial Group Inc. raised its stake in shares of Cheesecake Factory by 9.6% in the 3rd quarter. Principal Financial Group Inc. now owns 255,595 shares of the restaurant operator's stock valued at $10,364,000 after acquiring an additional 22,416 shares in the last quarter. New Century Financial Group LLC bought a new position in shares of Cheesecake Factory in the 4th quarter valued at approximately $1,142,000. Janney Montgomery Scott LLC bought a new position in shares of Cheesecake Factory in the 4th quarter valued at approximately $270,000. Finally, Victory Capital Management Inc. raised its stake in shares of Cheesecake Factory by 32.7% in the 3rd quarter. Victory Capital Management Inc. now owns 403,271 shares of the restaurant operator's stock valued at $16,353,000 after acquiring an additional 99,341 shares in the last quarter. 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.