The Cheesecake Factory Incorporated (NASDAQ:CAKE) to Issue Quarterly Dividend of $0.27

The Cheesecake Factory Incorporated (NASDAQ:CAKEGet Free Report) announced a quarterly dividend on Tuesday, October 29th, Zacks reports. Shareholders of record on Wednesday, November 13th will be given a dividend of 0.27 per share by the restaurant operator on Tuesday, November 26th. This represents a $1.08 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date of this dividend is Wednesday, November 13th.

Cheesecake Factory has raised its dividend payment by an average of 44.2% per year over the last three years. Cheesecake Factory has a payout ratio of 30.3% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Cheesecake Factory to earn $3.56 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 30.3%.

Cheesecake Factory Price Performance

CAKE opened at $46.54 on Thursday. The stock has a fifty day moving average price of $40.01 and a 200 day moving average price of $38.36. Cheesecake Factory has a 1 year low of $29.27 and a 1 year high of $49.75. The stock has a market cap of $2.37 billion, a price-to-earnings ratio of 19.51, a PEG ratio of 1.13 and a beta of 1.49. The company has a current ratio of 0.43, a quick ratio of 0.32 and a debt-to-equity ratio of 1.26.

Cheesecake Factory (NASDAQ:CAKEGet Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The restaurant operator reported $0.58 EPS for the quarter, beating the consensus estimate of $0.47 by $0.11. The company had revenue of $865.50 million for the quarter, compared to the consensus estimate of $866.13 million. Cheesecake Factory had a return on equity of 43.62% and a net margin of 3.32%. The company’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.39 earnings per share. Analysts forecast that Cheesecake Factory will post 3.21 EPS for the current fiscal year.

Analyst Ratings Changes

CAKE has been the subject of several research analyst reports. Bank of America upped their target price on shares of Cheesecake Factory from $47.00 to $49.00 and gave the company a “neutral” rating in a research note on Wednesday. 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 research report on Wednesday. Citigroup lifted their price objective on Cheesecake Factory from $46.00 to $51.00 and gave the stock a “buy” rating in a research note on Friday, October 4th. UBS Group raised their price objective on Cheesecake Factory from $32.00 to $36.00 and gave the stock a “sell” rating in a research note on Friday, October 25th. Finally, Barclays raised their target price on shares of Cheesecake Factory from $38.00 to $44.00 and gave the stock an “underweight” rating in a report 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. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $44.17.

Get Our Latest Stock Analysis on Cheesecake Factory

Cheesecake Factory Company Profile

(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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Dividend History for Cheesecake Factory (NASDAQ:CAKE)

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