Cheesecake Factory (NASDAQ:CAKE) Price Target Raised to $61.00 at Wedbush

Cheesecake Factory (NASDAQ:CAKE) had its target price boosted by Wedbush from $59.00 to $61.00 in a research note issued to investors on Thursday morning,Benzinga reports. Wedbush currently has an outperform rating on the restaurant operator’s stock. Wedbush also issued estimates for Cheesecake Factory’s Q4 2024 earnings at $0.93 EPS and FY2024 earnings at $3.33 EPS.

A number of other research analysts also recently commented on the stock. Oppenheimer raised shares of Cheesecake Factory from a “market perform” rating to an “outperform” rating and set a $65.00 target price on the stock in a research report on Tuesday, January 7th. Bank of America increased their price target on shares of Cheesecake Factory from $47.00 to $49.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Stephens raised their target price on shares of Cheesecake Factory from $51.00 to $57.00 and gave the stock an “overweight” rating in a research note on Thursday, December 12th. Wells Fargo & Company raised their target price on shares of Cheesecake Factory from $38.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Finally, Robert W. Baird raised their price objective on shares of Cheesecake Factory from $52.00 to $57.00 and gave the company a “neutral” rating in a research note on Thursday. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $52.19.

Cheesecake Factory Trading Up 1.3 %

NASDAQ CAKE opened at $54.97 on Thursday. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.44 and a quick ratio of 0.33. The firm’s fifty day moving average price is $51.06 and its 200 day moving average price is $45.31. The company has a market capitalization of $2.81 billion, a price-to-earnings ratio of 20.90, a price-to-earnings-growth ratio of 1.34 and a beta of 1.51. Cheesecake Factory has a 12 month low of $33.05 and a 12 month high of $57.32.

Cheesecake Factory (NASDAQ:CAKE) last posted its earnings results on Wednesday, February 19th. The restaurant operator reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $0.91 by $0.13. The firm had revenue of $920.96 million for the quarter, compared to the consensus estimate of $912.67 million. Cheesecake Factory had a net margin of 3.63% and a return on equity of 43.90%. On average, sell-side analysts expect that Cheesecake Factory will post 3.32 earnings per share for the current fiscal year.

Cheesecake Factory Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 18th. Stockholders of record on Wednesday, March 5th will be issued a dividend of $0.27 per share. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.96%. Cheesecake Factory’s dividend payout ratio (DPR) is presently 41.06%.

Institutional Investors Weigh In On Cheesecake Factory

A number of hedge funds and other institutional investors have recently modified their holdings of CAKE. Hennessy Advisors Inc. purchased a new stake in shares of Cheesecake Factory during the fourth quarter worth about $63,114,000. Wellington Management Group LLP acquired a new stake in shares of Cheesecake Factory in the fourth quarter worth approximately $56,288,000. Victory Capital Management Inc. boosted its position in shares of 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 worth $51,062,000 after acquiring an additional 673,076 shares during the last quarter. Junto Capital Management LP acquired a new stake in shares of Cheesecake Factory in the fourth quarter worth approximately $21,827,000. Finally, JCP Investment Management LLC boosted its position in shares of Cheesecake Factory by 181.3% in the fourth quarter. JCP Investment Management LLC now owns 667,210 shares of the restaurant operator’s stock worth $31,652,000 after acquiring an additional 430,000 shares during the last quarter. 94.48% of the stock is currently owned by hedge funds and other institutional investors.

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.