The Goldman Sachs Group Increases Cheesecake Factory (NASDAQ:CAKE) Price Target to $64.00

Cheesecake Factory (NASDAQ:CAKE) had its price objective upped by The Goldman Sachs Group from $56.00 to $64.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has a “buy” rating on the restaurant operator’s stock. The Goldman Sachs Group’s price target would suggest a potential upside of 20.05% from the stock’s current price.

Several other research firms also recently weighed in on CAKE. Oppenheimer upgraded shares of Cheesecake Factory from a “market perform” rating to an “outperform” rating and set a $65.00 price target on the stock in a research note on Tuesday, January 7th. StockNews.com downgraded shares of Cheesecake Factory from a “buy” rating to a “hold” rating in a research note on Thursday, November 28th. Jefferies Financial Group raised their price target on shares of Cheesecake Factory from $49.00 to $58.00 and gave the company a “buy” rating in a research report on Monday, December 16th. Raymond James boosted their price target on shares of Cheesecake Factory from $51.00 to $56.00 and gave the stock an “outperform” rating in a research note on Monday, December 16th. Finally, Bank of America increased their price objective on Cheesecake Factory from $47.00 to $49.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Cheesecake Factory presently has a consensus rating of “Hold” and a consensus target price of $49.93.

Cheesecake Factory Trading Down 4.1 %

Shares of NASDAQ CAKE opened at $53.31 on Thursday. The company has a current ratio of 0.44, a quick ratio of 0.33 and a debt-to-equity ratio of 1.19. The stock has a market capitalization of $2.72 billion, a PE ratio of 20.27, a PEG ratio of 1.35 and a beta of 1.51. Cheesecake Factory has a twelve month low of $33.05 and a twelve month high of $57.32. The stock has a fifty day simple moving average of $50.47 and a 200-day simple moving average of $44.32.

Institutional Investors Weigh In On Cheesecake Factory

Institutional investors have recently added to or reduced their stakes in the business. State Street Corp raised its holdings in Cheesecake Factory by 3.7% during the third quarter. State Street Corp now owns 1,876,295 shares of the restaurant operator’s stock worth $76,084,000 after purchasing an additional 67,550 shares in the last quarter. Hennessy Advisors Inc. purchased a new position in shares of Cheesecake Factory in the 4th quarter valued at $63,114,000. Geode Capital Management LLC raised its stake in Cheesecake Factory by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 1,118,549 shares of the restaurant operator’s stock worth $45,365,000 after acquiring an additional 12,493 shares in the last quarter. Victory Capital Management Inc. lifted its position in Cheesecake Factory by 166.9% in the fourth quarter. Victory Capital Management Inc. now owns 1,076,347 shares of the restaurant operator’s stock valued at $51,062,000 after acquiring an additional 673,076 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Cheesecake Factory by 3.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 618,670 shares of the restaurant operator’s stock valued at $29,350,000 after acquiring an additional 20,769 shares in the last quarter. Hedge funds and other institutional investors 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.