The Cheesecake Factory Incorporated (CAKE) To Go Ex-Dividend on August 14th

The Cheesecake Factory Incorporated (NASDAQ:CAKE) declared a quarterly dividend on Wednesday, July 31st, Zacks reports. Stockholders of record on Wednesday, August 14th will be given a dividend of 0.27 per share by the restaurant operator on Tuesday, August 27th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 3.08%. The ex-dividend date of this dividend is Wednesday, August 14th.

Cheesecake Factory has increased its dividend payment by an average of 44.2% annually over the last three years. Cheesecake Factory has a payout ratio of 30.6% meaning its dividend is sufficiently covered by earnings. Research analysts expect Cheesecake Factory to earn $3.50 per share next year, which means the company should continue to be able to cover its $1.08 annual dividend with an expected future payout ratio of 30.9%.

Cheesecake Factory Price Performance

Shares of NASDAQ:CAKE traded down $1.78 during mid-day trading on Friday, reaching $35.07. The stock had a trading volume of 470,362 shares, compared to its average volume of 940,263. The company has a current ratio of 0.43, a quick ratio of 0.33 and a debt-to-equity ratio of 1.42. The company has a market cap of $1.79 billion, a P/E ratio of 16.90, a price-to-earnings-growth ratio of 1.14 and a beta of 1.51. Cheesecake Factory has a 1 year low of $28.58 and a 1 year high of $41.25. The business’s 50 day moving average price is $38.73 and its 200 day moving average price is $36.45.

Cheesecake Factory (NASDAQ:CAKE) last issued its quarterly earnings data on Wednesday, July 31st. The restaurant operator reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.09. Cheesecake Factory had a return on equity of 45.30% and a net margin of 3.32%. The business had revenue of $904.04 million for the quarter, compared to the consensus estimate of $909.19 million. During the same period in the prior year, the business posted $0.88 earnings per share. The company’s quarterly revenue was up 4.4% compared to the same quarter last year. Research analysts expect that Cheesecake Factory will post 3.17 EPS for the current fiscal year.

Wall Street Analyst Weigh In

CAKE has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft increased their price target on Cheesecake Factory from $37.00 to $38.00 and gave the stock a “hold” rating in a report on Thursday, May 9th. Raymond James raised Cheesecake Factory from a “market perform” rating to an “outperform” rating and set a $42.00 target price on the stock in a research report on Thursday, May 9th. JPMorgan Chase & Co. increased their price objective on Cheesecake Factory from $34.00 to $40.00 and gave the company an “underweight” rating in a report on Tuesday, May 28th. Wells Fargo & Company increased their price objective on Cheesecake Factory from $36.00 to $38.00 and gave the company an “equal weight” rating in a report on Thursday. Finally, Barclays increased their price objective on Cheesecake Factory from $32.00 to $35.00 and gave the company an “underweight” rating in a report on Thursday. Three analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $40.25.

Insider Buying and Selling

In other Cheesecake Factory 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 transaction of $151,778.50. Following the completion of the transaction, the insider now owns 28,072 shares in the company, valued at approximately $1,125,687.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 8.10% of the stock is currently owned by company insiders.

About Cheesecake Factory

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.