Cheesecake Factory (NASDAQ:CAKE) Price Target Raised to $58.00

Cheesecake Factory (NASDAQ:CAKE) had its price target hoisted by equities researchers at Jefferies Financial Group from $49.00 to $58.00 in a report issued on Monday,Benzinga reports. The firm presently has a “buy” rating on the restaurant operator’s stock. Jefferies Financial Group’s price target indicates a potential upside of 13.15% from the company’s current price.

CAKE has been the topic of a number of other reports. Wells Fargo & Company raised their price target on shares of Cheesecake Factory from $38.00 to $45.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Raymond James raised their price target on shares of Cheesecake Factory from $51.00 to $56.00 and gave the company an “outperform” rating in a research note on Monday. StockNews.com lowered shares of Cheesecake Factory from a “buy” rating to a “hold” rating in a research note on Thursday, November 28th. The Goldman Sachs Group started coverage on shares of Cheesecake Factory in a research note on Thursday, December 5th. They issued a “buy” rating and a $56.00 price target on the stock. Finally, Robert W. Baird raised their target price on shares of Cheesecake Factory from $40.00 to $47.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $47.93.

Cheesecake Factory Stock Up 2.8 %

Shares of CAKE stock traded up $1.39 during trading hours on Monday, reaching $51.26. 398,092 shares of the company’s stock were exchanged, compared to its average volume of 975,702. The stock’s 50 day moving average is $45.92 and its 200-day moving average is $41.15. The company has a market cap of $2.62 billion, a price-to-earnings ratio of 19.46, a P/E/G ratio of 1.37 and a beta of 1.48. The company has a current ratio of 0.44, a quick ratio of 0.33 and a debt-to-equity ratio of 1.19. Cheesecake Factory has a fifty-two week low of $31.24 and a fifty-two week high of $52.10.

Cheesecake Factory (NASDAQ:CAKE) last issued its quarterly earnings data on Tuesday, October 29th. The restaurant operator reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.11. The business had revenue of $865.50 million during the quarter, compared to the consensus estimate of $866.13 million. Cheesecake Factory had a net margin of 3.63% and a return on equity of 43.90%. The company’s revenue was up 4.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.39 earnings per share. Analysts predict that Cheesecake Factory will post 3.31 earnings per share for the current fiscal year.

Insider Activity at Cheesecake Factory

In related news, insider Keith Carango sold 13,095 shares of Cheesecake Factory stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $49.88, for a total value of $653,178.60. Following the completion of the sale, the insider now owns 14,977 shares in the company, valued at approximately $747,052.76. This trade represents a 46.65 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 8.10% of the stock is owned by insiders.

Institutional Trading of Cheesecake Factory

Several institutional investors have recently added to or reduced their stakes in the stock. nVerses Capital LLC acquired a new position in shares of Cheesecake Factory in the second quarter worth $67,000. Wealth Alliance acquired a new position in shares of Cheesecake Factory in the second quarter worth $213,000. Glenmede Trust Co. NA acquired a new position in shares of Cheesecake Factory in the third quarter worth $223,000. Foundations Investment Advisors LLC acquired a new position in shares of Cheesecake Factory in the third quarter worth $227,000. Finally, Commonwealth Equity Services LLC grew its stake in shares of Cheesecake Factory by 13.4% in the second quarter. Commonwealth Equity Services LLC now owns 6,771 shares of the restaurant operator’s stock worth $266,000 after acquiring an additional 802 shares in the last quarter. Institutional investors and hedge funds own 94.48% of the company’s stock.

About Cheesecake Factory

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.