Cheesecake Factory (NASDAQ:CAKE) Price Target Raised to $52.00 at Wedbush

Cheesecake Factory (NASDAQ:CAKE) had its price objective boosted by research analysts at Wedbush from $48.00 to $52.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has an “outperform” rating on the restaurant operator’s stock. Wedbush’s price target suggests a potential upside of 21.33% from the stock’s current price. Wedbush also issued estimates for Cheesecake Factory’s Q4 2024 earnings at $0.87 EPS and Q4 2025 earnings at $1.04 EPS.

Other equities analysts have also issued reports about the stock. Bank of America increased their price objective on shares of Cheesecake Factory from $45.00 to $47.00 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. Wells Fargo & Company lifted their price target on Cheesecake Factory from $36.00 to $38.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 1st. Stephens reiterated an “overweight” rating and issued a $50.00 price target on shares of Cheesecake Factory in a report on Tuesday, October 22nd. JPMorgan Chase & Co. cut their price objective on shares of Cheesecake Factory from $40.00 to $38.00 and set an “underweight” rating on the stock in a research note on Tuesday, August 6th. Finally, Robert W. Baird raised their target price on Cheesecake Factory from $40.00 to $47.00 and gave the stock a “neutral” rating in a report on Wednesday. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Cheesecake Factory has a consensus rating of “Hold” and a consensus target price of $42.92.

Cheesecake Factory Stock Performance

Shares of CAKE stock opened at $42.86 on Wednesday. Cheesecake Factory has a 52-week low of $29.27 and a 52-week high of $43.81. The company’s 50 day moving average is $39.85 and its 200 day moving average is $38.30. The company has a quick ratio of 0.32, a current ratio of 0.43 and a debt-to-equity ratio of 1.26. The firm has a market cap of $2.18 billion, a price-to-earnings ratio of 17.93, a PEG ratio of 1.13 and a beta of 1.49.

Cheesecake Factory (NASDAQ:CAKE) last posted its quarterly earnings data on Wednesday, July 31st. The restaurant operator reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.09. Cheesecake Factory had a return on equity of 43.62% and a net margin of 3.32%. The firm had revenue of $904.04 million during the quarter, compared to analysts’ expectations of $909.19 million. During the same quarter last year, the firm earned $0.88 EPS. The business’s quarterly revenue was up 4.4% on a year-over-year basis. On average, sell-side analysts anticipate that Cheesecake Factory will post 3.21 EPS for the current fiscal year.

Institutional Trading of Cheesecake Factory

Several institutional investors have recently made changes to their positions in the company. Arizona State Retirement System raised its holdings in Cheesecake Factory by 2.5% in the 2nd quarter. Arizona State Retirement System now owns 13,593 shares of the restaurant operator’s stock valued at $534,000 after buying an additional 337 shares during the period. Louisiana State Employees Retirement System increased its holdings in Cheesecake Factory by 2.2% in the 2nd quarter. Louisiana State Employees Retirement System now owns 23,600 shares of the restaurant operator’s stock valued at $927,000 after purchasing an additional 500 shares during the last quarter. Harbor Capital Advisors Inc. raised its position in Cheesecake Factory by 2.4% in the third quarter. Harbor Capital Advisors Inc. now owns 23,110 shares of the restaurant operator’s stock valued at $937,000 after purchasing an additional 532 shares during the period. ProShare Advisors LLC boosted its position in shares of Cheesecake Factory by 5.9% during the first quarter. ProShare Advisors LLC now owns 9,608 shares of the restaurant operator’s stock worth $347,000 after buying an additional 537 shares during the period. Finally, Texas Permanent School Fund Corp grew its stake in shares of Cheesecake Factory by 1.4% in the first quarter. Texas Permanent School Fund Corp now owns 40,881 shares of the restaurant operator’s stock valued at $1,478,000 after buying an additional 547 shares in the last quarter. Hedge funds and other institutional investors own 94.48% of the company’s stock.

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.