Cheesecake Factory (NASDAQ:CAKE) Sets New 52-Week High - Still a Buy?

Shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE - Get Free Report) hit a new 52-week high on Friday . The stock traded as high as $42.88 and last traded at $42.74, with a volume of 49881 shares. The stock had previously closed at $42.12.

Analyst Ratings Changes

CAKE has been the topic of several research reports. Citigroup raised their price target 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. Robert W. Baird raised their price target on shares of Cheesecake Factory from $37.00 to $40.00 and gave the company a "neutral" rating in a report on Thursday, August 1st. Barclays lifted their price objective on shares of Cheesecake Factory from $32.00 to $35.00 and gave the company an "underweight" rating in a research note on Thursday, August 1st. Wedbush reiterated an "outperform" rating and set a $45.00 price objective on shares of Cheesecake Factory in a research note on Thursday, August 1st. Finally, Wells Fargo & Company lifted their price objective on shares of Cheesecake Factory from $36.00 to $38.00 and gave the company an "equal weight" rating in a research note on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $41.55.

Cheesecake Factory Price Performance

The company has a debt-to-equity ratio of 1.26, a current ratio of 0.43 and a quick ratio of 0.32. The firm has a market cap of $2.19 billion, a price-to-earnings ratio of 19.70, a P/E/G ratio of 1.13 and a beta of 1.49. The business's 50-day moving average price is $38.97 and its two-hundred day moving average price is $37.85.

Cheesecake Factory (NASDAQ:CAKE - Get Free Report) last released its quarterly earnings results on Wednesday, July 31st. The restaurant operator reported $1.09 earnings per share for the quarter, topping analysts' consensus estimates of $1.00 by $0.09. Cheesecake Factory had a net margin of 3.32% and a return on equity of 43.62%. The business had revenue of $904.04 million during the quarter, compared to the consensus estimate of $909.19 million. During the same quarter last year, the company earned $0.88 earnings per share. The business's quarterly revenue was up 4.4% compared to the same quarter last year. On average, research analysts forecast that The Cheesecake Factory Incorporated will post 3.21 EPS for the current fiscal year.

Cheesecake Factory Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 27th. Shareholders of record on Wednesday, August 14th were issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 2.51%. The ex-dividend date of this dividend was Wednesday, August 14th. Cheesecake Factory's dividend payout ratio is presently 49.54%.

Hedge Funds Weigh In On Cheesecake Factory

Hedge funds have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC boosted its holdings in Cheesecake Factory by 2,360.7% in the first quarter. Allspring Global Investments Holdings LLC now owns 689 shares of the restaurant operator's stock worth $25,000 after purchasing an additional 661 shares during the period. GAMMA Investing LLC boosted its holdings in shares of Cheesecake Factory by 276.4% during the second quarter. GAMMA Investing LLC now owns 1,449 shares of the restaurant operator's stock valued at $57,000 after acquiring an additional 1,064 shares during the period. nVerses Capital LLC acquired a new position in shares of Cheesecake Factory during the second quarter valued at $67,000. SG Americas Securities LLC acquired a new position in shares of Cheesecake Factory during the first quarter valued at $121,000. Finally, Avantax Advisory Services Inc. acquired a new position in shares of Cheesecake Factory during the first quarter valued at $202,000. Institutional investors and hedge funds own 94.48% of the company's stock.

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.