Raymond James Cuts Cheesecake Factory (NASDAQ:CAKE) Price Target to $53.00

Cheesecake Factory (NASDAQ:CAKE) had its price target trimmed by Raymond James from $56.00 to $53.00 in a research report report published on Monday, BenzingaRatingsTable reports. The firm currently has an outperform rating on the restaurant operator’s stock.

CAKE has been the topic of several other reports. Deutsche Bank set a $142.00 price objective on shares of MCCORMICK & CO /SH and gave the company a hold rating in a report on Friday, June 28th. Telsey Advisory Group restated an outperform rating and issued a $195.00 price objective (up from $190.00) on shares of Estee Lauder Companies in a report on Thursday, May 2nd. BidaskClub lowered shares of Weyco Group from a sell rating to a strong sell rating in a report on Saturday, July 13th. ValuEngine lowered shares of Zumiez from a hold rating to a sell rating in a report on Tuesday, July 2nd. Finally, TheStreet lowered shares of Virtusa from a b- rating to a c+ rating in a report on Wednesday, May 29th. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have issued a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average target price of $51.07.

Shares of NASDAQ CAKE opened at $44.13 on Monday. The firm has a 50 day simple moving average of $44.05. Cheesecake Factory has a fifty-two week low of $41.63 and a fifty-two week high of $60.19. The firm has a market capitalization of $1.99 billion, a price-to-earnings ratio of 17.69, a P/E/G ratio of 1.28 and a beta of 0.43. The company has a debt-to-equity ratio of 1.78, a current ratio of 0.35 and a quick ratio of 0.26.



Cheesecake Factory (NASDAQ:CAKE) last announced its quarterly earnings data on Wednesday, May 1st. The restaurant operator reported $0.62 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.02. Cheesecake Factory had a net margin of 4.24% and a return on equity of 19.54%. The business had revenue of $599.48 million for the quarter, compared to analyst estimates of $603.03 million. During the same period in the prior year, the business posted $0.56 earnings per share. Cheesecake Factory’s revenue was up 2.5% compared to the same quarter last year. Equities research analysts anticipate that Cheesecake Factory will post 2.65 earnings per share for the current fiscal year.

In related news, Director Edie A. Ames acquired 700 shares of the stock in a transaction dated Monday, May 13th. The stock was bought at an average price of $47.18 per share, with a total value of $33,026.00. Following the completion of the transaction, the director now directly owns 3,130 shares of the company’s stock, valued at $147,673.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Laurence B. Mindel acquired 1,500 shares of the stock in a transaction dated Monday, May 6th. The shares were bought at an average cost of $49.64 per share, with a total value of $74,460.00. The disclosure for this purchase can be found here. Insiders acquired 4,200 shares of company stock valued at $202,486 in the last ninety days. Insiders own 8.50% of the company’s stock.

Hedge funds have recently modified their holdings of the company. Oregon Public Employees Retirement Fund lifted its stake in shares of Cheesecake Factory by 1.4% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 17,101 shares of the restaurant operator’s stock worth $748,000 after buying an additional 238 shares during the last quarter. 6 Meridian lifted its stake in shares of Cheesecake Factory by 2.5% during the 2nd quarter. 6 Meridian now owns 10,622 shares of the restaurant operator’s stock worth $464,000 after buying an additional 255 shares during the last quarter. Scout Investments Inc. lifted its stake in shares of Cheesecake Factory by 65.8% during the 2nd quarter. Scout Investments Inc. now owns 127,353 shares of the restaurant operator’s stock worth $5,568,000 after buying an additional 50,560 shares during the last quarter. WINTON GROUP Ltd acquired a new stake in shares of Cheesecake Factory during the 2nd quarter worth about $219,000. Finally, Amundi Pioneer Asset Management Inc. lifted its stake in shares of Cheesecake Factory by 84.6% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 45,408 shares of the restaurant operator’s stock worth $2,221,000 after buying an additional 20,815 shares during the last quarter. 98.26% of the stock is owned by institutional investors.

About Cheesecake Factory

The Cheesecake Factory Incorporated engages in the operation of restaurants. The company produces cheesecakes and other baked products for own restaurants and international licensees, as well as external foodservice operators, retailers, and distributors. As of April 16, 2019, it owned and operated 219 full-service casual-dining restaurants in the United States, including Puerto Rico and Canada comprising 202 restaurants under The Cheesecake Factory name; 14 restaurants under the Grand Lux Café name; and 2 restaurants under the RockSugar Southeast Asian Kitchen name, as well as 22 The Cheesecake Factory restaurants under licensing agreements internationally.

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Analyst Recommendations for Cheesecake Factory (NASDAQ:CAKE)

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