Cheesecake Factory (NASDAQ:CAKE) Given New $49.00 Price Target at Bank of America

Cheesecake Factory (NASDAQ:CAKE - Get Free Report) had its price objective increased by investment analysts at Bank of America from $47.00 to $49.00 in a report issued on Wednesday, Benzinga reports. The firm presently has a "neutral" rating on the restaurant operator's stock. Bank of America's price target would indicate a potential upside of 3.01% from the stock's current price.

CAKE has been the subject of a number of other research reports. Wells Fargo & Company boosted their target price on shares of Cheesecake Factory from $38.00 to $45.00 and gave the stock an "equal weight" rating in a research note on Wednesday. Wedbush boosted their target price on shares of Cheesecake Factory from $48.00 to $52.00 and gave the stock an "outperform" rating in a research note on Wednesday. UBS Group boosted their target price on shares of Cheesecake Factory from $32.00 to $36.00 and gave the stock a "sell" rating in a research note on Friday, October 25th. Citigroup upped their price objective on shares of Cheesecake Factory from $46.00 to $51.00 and gave the company a "buy" rating in a research note on Friday, October 4th. Finally, Barclays upped their price objective on shares of Cheesecake Factory from $38.00 to $44.00 and gave the company an "underweight" rating in a research note on Wednesday. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Cheesecake Factory presently has an average rating of "Hold" and a consensus price target of $44.17.

Cheesecake Factory Stock Performance

CAKE traded up $4.71 on Wednesday, reaching $47.57. The stock had a trading volume of 2,242,906 shares, compared to its average volume of 950,700. Cheesecake Factory has a 12-month low of $29.27 and a 12-month high of $49.75. The company has a current ratio of 0.43, a quick ratio of 0.32 and a debt-to-equity ratio of 1.26. The business's 50-day moving average price is $39.85 and its two-hundred day moving average price is $38.30. The company has a market cap of $2.42 billion, a P/E ratio of 19.82, a price-to-earnings-growth ratio of 1.13 and a beta of 1.49.

Cheesecake Factory (NASDAQ:CAKE - Get Free Report) last released its quarterly earnings data on Tuesday, October 29th. The restaurant operator reported $0.58 earnings per share for the quarter, beating analysts' consensus estimates of $0.47 by $0.11. Cheesecake Factory had a net margin of 3.32% and a return on equity of 43.62%. The company had revenue of $865.50 million during the quarter, compared to analysts' expectations of $866.13 million. During the same quarter in the previous year, the company earned $0.39 earnings per share. The firm's revenue for the quarter was up 4.3% on a year-over-year basis. Sell-side analysts forecast that Cheesecake Factory will post 3.21 earnings per share for the current year.

Hedge Funds Weigh In On Cheesecake Factory

Several large investors have recently made changes to their positions in CAKE. Allspring Global Investments Holdings LLC lifted its holdings in shares of Cheesecake Factory by 2,360.7% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 689 shares of the restaurant operator's stock worth $25,000 after acquiring an additional 661 shares during the last quarter. GAMMA Investing LLC lifted its holdings in Cheesecake Factory by 276.4% during the 2nd quarter. GAMMA Investing LLC now owns 1,449 shares of the restaurant operator's stock worth $57,000 after buying an additional 1,064 shares in the last quarter. nVerses Capital LLC acquired a new stake in Cheesecake Factory during the 2nd quarter worth approximately $67,000. SG Americas Securities LLC acquired a new stake in Cheesecake Factory during the 1st quarter worth approximately $121,000. Finally, Avantax Advisory Services Inc. acquired a new stake in Cheesecake Factory during the 1st quarter worth approximately $202,000. 94.48% of the stock is currently 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.

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