The Cheesecake Factory Incorporated (NASDAQ:CAKE) was downgraded by investment analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research report issued to clients and investors on Thursday.
Several other research analysts also recently commented on CAKE. Zacks Investment Research raised The Cheesecake Factory from a “sell” rating to a “hold” rating in a research report on Tuesday, April 4th. Maxim Group reaffirmed a “hold” rating and issued a $65.00 price target (up from $59.00) on shares of The Cheesecake Factory in a research report on Monday, May 1st. Jefferies Group LLC raised The Cheesecake Factory from an “underperform” rating to a “hold” rating and set a $52.00 price target on the stock in a research report on Tuesday, June 13th. They noted that the move was a valuation call. Telsey Advisory Group dropped their price target on The Cheesecake Factory from $66.00 to $62.00 and set an “outperform” rating on the stock in a research report on Wednesday, June 14th. Finally, Wells Fargo & Company reaffirmed a “market perform” rating and issued a $55.00 price target (down from $61.50) on shares of The Cheesecake Factory in a research report on Wednesday, June 14th. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and five have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $58.06.
Shares of The Cheesecake Factory (NASDAQ CAKE) traded down 2.22% during mid-day trading on Thursday, reaching $47.67. 1,709,236 shares of the company’s stock traded hands. The Cheesecake Factory has a 1-year low of $47.37 and a 1-year high of $67.14. The firm has a 50-day moving average price of $50.74 and a 200-day moving average price of $58.57. The company has a market capitalization of $2.20 billion, a P/E ratio of 16.67 and a beta of 0.33.
The Cheesecake Factory (NASDAQ:CAKE) last issued its quarterly earnings data on Wednesday, May 3rd. The restaurant operator reported $0.72 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.73 by $0.01. The Cheesecake Factory had a net margin of 6.15% and a return on equity of 23.35%. The company had revenue of $563.43 million during the quarter, compared to the consensus estimate of $565.42 million. On average, equities research analysts forecast that The Cheesecake Factory will post $2.84 earnings per share for the current fiscal year.
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In other news, VP Debby R. Zurzolo sold 6,424 shares of the business’s stock in a transaction that occurred on Thursday, June 1st. The stock was sold at an average price of $59.09, for a total transaction of $379,594.16. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 8.50% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the stock. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of The Cheesecake Factory by 32.2% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,621 shares of the restaurant operator’s stock valued at $103,000 after buying an additional 395 shares in the last quarter. TrimTabs Asset Management LLC raised its stake in shares of The Cheesecake Factory by 89.0% in the first quarter. TrimTabs Asset Management LLC now owns 2,056 shares of the restaurant operator’s stock valued at $130,000 after buying an additional 968 shares in the last quarter. Parallel Advisors LLC raised its stake in shares of The Cheesecake Factory by 13.5% in the first quarter. Parallel Advisors LLC now owns 1,974 shares of the restaurant operator’s stock valued at $132,000 after buying an additional 235 shares in the last quarter. Tyers Asset Management LLC raised its stake in shares of The Cheesecake Factory by 1.1% in the first quarter. Tyers Asset Management LLC now owns 2,112 shares of the restaurant operator’s stock valued at $134,000 after buying an additional 22 shares in the last quarter. Finally, Flinton Capital Management LLC raised its stake in shares of The Cheesecake Factory by 1.1% in the first quarter. Flinton Capital Management LLC now owns 2,688 shares of the restaurant operator’s stock valued at $170,000 after buying an additional 28 shares in the last quarter. 97.02% of the stock is currently owned by institutional investors and hedge funds.
The Cheesecake Factory Company Profile
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.
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