Cheesecake Factory (NASDAQ:CAKE) Trading Down 2.4%

The Cheesecake Factory Incorporated (NASDAQ:CAKE) traded down 2.4% during mid-day trading on Monday . The company traded as low as $38.68 and last traded at $38.84. 46,379 shares were traded during mid-day trading, a decline of 95% from the average session volume of 915,129 shares. The stock had previously closed at $39.79.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Wedbush reiterated an “outperform” rating and issued a $45.00 price objective on shares of Cheesecake Factory in a report on Friday. JPMorgan Chase & Co. raised their price objective on shares of Cheesecake Factory from $34.00 to $40.00 and gave the company an “underweight” rating in a report on Tuesday, May 28th. Bank of America raised their price objective on shares of Cheesecake Factory from $39.00 to $43.00 and gave the company a “neutral” rating in a report on Wednesday, May 15th. Robert W. Baird increased their target price on shares of Cheesecake Factory from $32.00 to $37.00 and gave the company a “neutral” rating in a research report on Thursday, May 9th. Finally, Stephens increased their target price on shares of Cheesecake Factory from $44.00 to $50.00 and gave the company an “overweight” rating in a research report on Wednesday, May 15th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $39.58.

Cheesecake Factory Trading Down 2.2 %

The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.33 and a current ratio of 0.43. The firm has a 50 day simple moving average of $38.88 and a two-hundred day simple moving average of $36.21. The firm has a market capitalization of $1.98 billion, a P/E ratio of 18.25, a PEG ratio of 1.17 and a beta of 1.51.

Cheesecake Factory (NASDAQ:CAKE) last released its earnings results on Wednesday, May 8th. The restaurant operator reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.10. The company had revenue of $891.22 million for the quarter, compared to analysts’ expectations of $890.49 million. Cheesecake Factory had a return on equity of 42.15% and a net margin of 3.07%. The business’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.61 EPS. Equities research analysts forecast that The Cheesecake Factory Incorporated will post 3.17 earnings per share for the current year.

Cheesecake Factory Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 4th. Investors of record on Wednesday, May 22nd were issued a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 2.77%. The ex-dividend date of this dividend was Tuesday, May 21st. Cheesecake Factory’s dividend payout ratio (DPR) is currently 49.54%.

Insider Buying and Selling

In related news, insider Keith Carango sold 3,785 shares of Cheesecake Factory stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $40.10, for a total value of $151,778.50. Following the completion of the sale, the insider now owns 28,072 shares of the company’s stock, valued at approximately $1,125,687.20. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 8.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Cheesecake Factory

Several large investors have recently added to or reduced their stakes in CAKE. Vanguard Group Inc. increased its holdings in Cheesecake Factory by 0.4% in the 3rd quarter. Vanguard Group Inc. now owns 5,568,464 shares of the restaurant operator’s stock worth $168,724,000 after acquiring an additional 22,099 shares during the last quarter. Advisors Preferred LLC purchased a new position in Cheesecake Factory during the 4th quarter valued at about $2,335,000. New York State Teachers Retirement System grew its holdings in Cheesecake Factory by 0.9% during the 4th quarter. New York State Teachers Retirement System now owns 74,707 shares of the restaurant operator’s stock valued at $2,615,000 after buying an additional 672 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in Cheesecake Factory by 2.3% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 22,140 shares of the restaurant operator’s stock valued at $775,000 after buying an additional 498 shares in the last quarter. Finally, Sapient Capital LLC purchased a new position in Cheesecake Factory during the 4th quarter valued at about $6,838,000. Hedge funds and other institutional investors 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.