Wedbush Issues Positive Forecast for Cheesecake Factory (NASDAQ:CAKE) Stock Price

Cheesecake Factory (NASDAQ:CAKE) had its target price lifted by equities researchers at Wedbush from $59.00 to $61.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has an “outperform” rating on the restaurant operator’s stock. Wedbush’s price target would indicate a potential upside of 12.36% from the company’s current price. Wedbush also issued estimates for Cheesecake Factory’s Q4 2024 earnings at $0.93 EPS and FY2024 earnings at $3.33 EPS.

Several other equities research analysts have also recently issued reports on CAKE. Robert W. Baird lifted their price objective on Cheesecake Factory from $52.00 to $57.00 and gave the stock a “neutral” rating in a report on Thursday. UBS Group lifted their price target on Cheesecake Factory from $36.00 to $41.00 and gave the stock a “sell” rating in a research note on Tuesday, January 7th. StockNews.com downgraded Cheesecake Factory from a “buy” rating to a “hold” rating in a research note on Thursday, November 28th. Barclays lifted their target price on shares of Cheesecake Factory from $46.00 to $50.00 and gave the stock an “underweight” rating in a research note on Thursday. Finally, Stephens increased their target price on shares of Cheesecake Factory from $51.00 to $57.00 and gave the company an “overweight” rating in a research report on Thursday, December 12th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $51.33.

Cheesecake Factory Stock Down 2.7 %

Cheesecake Factory stock opened at $54.29 on Thursday. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.44 and a quick ratio of 0.33. The stock has a market capitalization of $2.77 billion, a PE ratio of 20.64, a price-to-earnings-growth ratio of 1.28 and a beta of 1.51. The business has a 50 day simple moving average of $50.96 and a 200-day simple moving average of $45.25. Cheesecake Factory has a 12 month low of $33.05 and a 12 month high of $57.32.

Cheesecake Factory (NASDAQ:CAKE) last posted its quarterly earnings data on Wednesday, February 19th. The restaurant operator reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.91 by $0.13. Cheesecake Factory had a net margin of 3.63% and a return on equity of 43.90%. On average, analysts anticipate that Cheesecake Factory will post 3.32 EPS for the current fiscal year.

Hedge Funds Weigh In On Cheesecake Factory

Large investors have recently made changes to their positions in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Cheesecake Factory by 15.6% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 101,208 shares of the restaurant operator’s stock valued at $4,801,000 after buying an additional 13,678 shares during the period. Voloridge Investment Management LLC increased its position in shares of Cheesecake Factory by 42.7% in the 4th quarter. Voloridge Investment Management LLC now owns 489,570 shares of the restaurant operator’s stock valued at $23,225,000 after purchasing an additional 146,469 shares during the last quarter. Twinbeech Capital LP acquired a new position in shares of Cheesecake Factory during the fourth quarter worth $1,500,000. State of Wyoming raised its position in shares of Cheesecake Factory by 21.2% during the 4th quarter. State of Wyoming now owns 8,215 shares of the restaurant operator’s stock worth $390,000 after acquiring an additional 1,435 shares in the last quarter. Finally, Sapience Investments LLC purchased a new stake in shares of Cheesecake Factory during the 4th quarter worth approximately $1,857,000. 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.