The Cheesecake Factory Incorporated Plans Quarterly Dividend of $0.27 (NASDAQ:CAKE)

The Cheesecake Factory Incorporated (NASDAQ:CAKE) announced a quarterly dividend on Tuesday, October 29th, Zacks reports. Stockholders of record on Wednesday, November 13th will be given a dividend of 0.27 per share by the restaurant operator on Tuesday, November 26th. This represents a $1.08 annualized dividend and a dividend yield of 2.32%. The ex-dividend date of this dividend is Wednesday, November 13th.

Cheesecake Factory has increased its dividend by an average of 44.2% per year over the last three years. Cheesecake Factory has a payout ratio of 30.3% meaning its dividend is sufficiently covered by earnings. Research analysts expect Cheesecake Factory to earn $3.56 per share next year, which means the company should continue to be able to cover its $1.08 annual dividend with an expected future payout ratio of 30.3%.

Cheesecake Factory Trading Down 0.2 %

NASDAQ CAKE opened at $46.54 on Thursday. 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 stock has a market capitalization of $2.37 billion, a P/E ratio of 19.51, a P/E/G ratio of 1.13 and a beta of 1.49. Cheesecake Factory has a 52-week low of $29.27 and a 52-week high of $49.75. The firm has a 50-day moving average price of $40.01 and a 200 day moving average price of $38.36.

Cheesecake Factory (NASDAQ:CAKE) last released its quarterly earnings data on Tuesday, October 29th. The restaurant operator reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.11. The firm had revenue of $865.50 million for the quarter, compared to the consensus estimate of $866.13 million. Cheesecake Factory had a net margin of 3.32% and a return on equity of 43.62%. The firm’s revenue was up 4.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.39 earnings per share. Equities research analysts expect that Cheesecake Factory will post 3.21 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. JPMorgan Chase & Co. dropped their price objective on Cheesecake Factory from $40.00 to $38.00 and set an “underweight” rating for the company in a research report on Tuesday, August 6th. Wells Fargo & Company raised their price target 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. UBS Group boosted their price objective on shares of Cheesecake Factory from $32.00 to $36.00 and gave the company a “sell” rating in a research report on Friday, October 25th. 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 report on Wednesday. Finally, Bank of America boosted their price target on Cheesecake Factory from $47.00 to $49.00 and gave the company 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 company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $44.17.

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.