The Cheesecake Factory Incorporated (NASDAQ:CAKE - Get Free Report)'s stock price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $42.63 and traded as high as $49.36. Cheesecake Factory shares last traded at $47.99, with a volume of 1,375,684 shares.
Wall Street Analysts Forecast Growth
CAKE has been the subject of a number of research reports. Wells Fargo & Company upped their target price on shares of Cheesecake Factory from $38.00 to $45.00 and gave the stock an "equal weight" rating in a report on Wednesday, October 30th. The Goldman Sachs Group began coverage on shares of Cheesecake Factory in a research note on Thursday, December 5th. They issued a "buy" rating and a $56.00 price target on the stock. Wedbush increased their target price on Cheesecake Factory from $52.00 to $59.00 and gave the stock an "outperform" rating in a research note on Thursday, November 14th. Stephens raised their price target on shares of Cheesecake Factory from $51.00 to $57.00 and gave the company an "overweight" rating in a research report on Thursday, December 12th. Finally, Jefferies Financial Group raised their target price on shares of Cheesecake Factory from $49.00 to $58.00 and gave the company a "buy" rating in a report on Monday, December 16th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, Cheesecake Factory currently has a consensus rating of "Hold" and an average target price of $49.40.
Check Out Our Latest Stock Report on CAKE
Cheesecake Factory Trading Up 1.6 %
The company has a debt-to-equity ratio of 1.19, a current ratio of 0.44 and a quick ratio of 0.33. The firm has a market cap of $2.49 billion, a price-to-earnings ratio of 18.54, a price-to-earnings-growth ratio of 1.21 and a beta of 1.50. The business's 50-day moving average price is $48.81 and its two-hundred day moving average price is $42.74.
Cheesecake Factory (NASDAQ:CAKE - Get Free Report) last issued 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 return on equity of 43.90% and a net margin of 3.63%. The company had revenue of $865.50 million during the quarter, compared to the consensus estimate of $866.13 million. During the same period in the previous year, the firm posted $0.39 EPS. Cheesecake Factory's revenue was up 4.3% on a year-over-year basis. Equities analysts expect that The Cheesecake Factory Incorporated will post 3.31 earnings per share for the current year.
Cheesecake Factory Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 26th. Investors of record on Wednesday, November 13th were given a dividend of $0.27 per share. The ex-dividend date of this dividend was Wednesday, November 13th. This represents a $1.08 annualized dividend and a yield of 2.21%. Cheesecake Factory's dividend payout ratio (DPR) is presently 41.06%.
Insiders Place Their Bets
In related news, insider Keith Carango sold 13,095 shares of the company's stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $49.88, for a total transaction of $653,178.60. Following the completion of the transaction, the insider now owns 14,977 shares of the company's stock, valued at approximately $747,052.76. This represents a 46.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 8.10% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On Cheesecake Factory
Hedge funds have recently made changes to their positions in the stock. Versant Capital Management Inc raised its position in shares of Cheesecake Factory by 108.1% in the 4th quarter. Versant Capital Management Inc now owns 616 shares of the restaurant operator's stock worth $29,000 after buying an additional 320 shares during the period. Wealth Alliance acquired a new stake in Cheesecake Factory during the second quarter worth about $213,000. Glenmede Trust Co. NA purchased a new position in shares of Cheesecake Factory in the 3rd quarter worth about $223,000. Foundations Investment Advisors LLC acquired a new position in shares of Cheesecake Factory in the 3rd quarter valued at about $227,000. Finally, Commonwealth Equity Services LLC grew its holdings in shares of Cheesecake Factory by 13.4% during the 2nd quarter. Commonwealth Equity Services LLC now owns 6,771 shares of the restaurant operator's stock worth $266,000 after purchasing an additional 802 shares during the period. Institutional investors and hedge funds own 94.48% of the company's stock.
About Cheesecake Factory
(
Get Free Report)
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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