Cheesecake Factory’s (CAKE) “Hold” Rating Reiterated at Canaccord Genuity

Canaccord Genuity reissued their hold rating on shares of Cheesecake Factory (NASDAQ:CAKE) in a report released on Monday, January 8th. They currently have a $54.00 price objective on the restaurant operator’s stock.

A number of other analysts have also issued reports on the company. Maxim Group reiterated a buy rating and issued a $57.00 price target on shares of Cheesecake Factory in a report on Tuesday, September 12th. BTIG Research restated a buy rating and set a $50.00 target price on shares of Cheesecake Factory in a report on Wednesday, September 20th. Wedbush lowered Cheesecake Factory from an outperform rating to a neutral rating and lowered their target price for the stock from $52.00 to $44.00 in a report on Tuesday, September 26th. Stephens reduced their price target on Cheesecake Factory from $48.00 to $45.00 and set an equal weight rating on the stock in a research report on Wednesday, October 11th. Finally, Barclays cut their target price on Cheesecake Factory from $48.00 to $46.00 and set an equal weight rating on the stock in a research report on Wednesday, October 18th. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of Hold and an average price target of $48.81.

Shares of Cheesecake Factory (NASDAQ:CAKE) traded up $0.56 during mid-day trading on Monday, hitting $48.90. The stock had a trading volume of 1,262,700 shares, compared to its average volume of 1,007,893. The company has a quick ratio of 0.37, a current ratio of 0.51 and a debt-to-equity ratio of 0.05. Cheesecake Factory has a 1 year low of $38.34 and a 1 year high of $67.14. The company has a market capitalization of $2,240.00, a PE ratio of 18.04, a price-to-earnings-growth ratio of 1.25 and a beta of 0.33.

Cheesecake Factory (NASDAQ:CAKE) last issued its quarterly earnings data on Wednesday, November 1st. The restaurant operator reported $0.56 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.60 by ($0.04). The company had revenue of $555.40 million for the quarter, compared to the consensus estimate of $566.09 million. Cheesecake Factory had a return on equity of 21.65% and a net margin of 5.76%. The company’s revenue was down .8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.70 earnings per share. research analysts forecast that Cheesecake Factory will post 2.6 EPS for the current fiscal year.

In other Cheesecake Factory news, Director Herbert Simon purchased 25,000 shares of Cheesecake Factory stock in a transaction on Monday, November 6th. The shares were bought at an average price of $43.50 per share, with a total value of $1,087,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Debby R. Zurzolo sold 2,415 shares of the company’s stock in a transaction dated Thursday, November 9th. The shares were sold at an average price of $44.20, for a total transaction of $106,743.00. The disclosure for this sale can be found here. 8.40% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Schwab Charles Investment Management Inc. grew its holdings in Cheesecake Factory by 5.3% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 353,319 shares of the restaurant operator’s stock valued at $17,023,000 after purchasing an additional 17,626 shares in the last quarter. Atria Investments LLC bought a new position in shares of Cheesecake Factory in the 4th quarter worth about $255,000. AXA lifted its position in shares of Cheesecake Factory by 22.6% in the 3rd quarter. AXA now owns 143,600 shares of the restaurant operator’s stock worth $6,048,000 after buying an additional 26,500 shares during the last quarter. Public Employees Retirement System of Ohio lifted its position in shares of Cheesecake Factory by 8.7% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 74,481 shares of the restaurant operator’s stock worth $3,137,000 after buying an additional 5,938 shares during the last quarter. Finally, California Public Employees Retirement System lifted its position in shares of Cheesecake Factory by 1.7% in the 3rd quarter. California Public Employees Retirement System now owns 103,610 shares of the restaurant operator’s stock worth $4,364,000 after buying an additional 1,710 shares during the last quarter. 97.54% of the stock is currently owned by institutional investors and hedge funds.

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About Cheesecake Factory

The Cheesecake Factory Incorporated is engaged in the restaurant and bakery business. As of March 2, 2017, the Company operated 208 Company-owned restaurants: 194 under The Cheesecake Factory mark, 13 under the Grand Lux Cafe mark and one under the Rock Sugar Pan Asian Kitchen mark. The Company’s segments include The Cheesecake Factory restaurants, and other.

Analyst Recommendations for Cheesecake Factory (NASDAQ:CAKE)

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