Cheesecake Factory (NASDAQ:CAKE) Price Target Raised to $51.00

Cheesecake Factory (NASDAQ:CAKE) had its price target upped by Piper Sandler from $47.00 to $51.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the restaurant operator’s stock. Piper Sandler’s price objective points to a potential downside of 6.06% from the stock’s previous close.

A number of other research firms have also recently commented on CAKE. Raymond James raised their target price on Cheesecake Factory from $51.00 to $56.00 and gave the company an “outperform” rating in a research report on Monday, December 16th. Robert W. Baird raised their target price on shares of Cheesecake Factory from $52.00 to $57.00 and gave the stock a “neutral” rating in a research note on Thursday. UBS Group raised their target price on shares of Cheesecake Factory from $36.00 to $41.00 and gave the stock a “sell” rating in a research note on Tuesday, January 7th. StockNews.com lowered shares of Cheesecake Factory from a “buy” rating to a “hold” rating in a research report on Thursday, November 28th. Finally, Stephens reaffirmed an “overweight” rating and set a $60.00 price target on shares of Cheesecake Factory in a research report on Thursday. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $52.73.

Cheesecake Factory Stock Performance

Shares of CAKE stock opened at $54.29 on Thursday. The firm has a market capitalization of $2.77 billion, a price-to-earnings ratio of 20.64, a price-to-earnings-growth ratio of 1.34 and a beta of 1.51. 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 business has a fifty day moving average of $50.96 and a 200 day moving average of $45.25. Cheesecake Factory has a 1 year low of $33.05 and a 1 year high of $57.32.

Cheesecake Factory (NASDAQ:CAKE) last announced its quarterly earnings results on Wednesday, February 19th. The restaurant operator reported $1.04 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.13. Cheesecake Factory had a return on equity of 43.90% and a net margin of 3.63%. As a group, research analysts expect that Cheesecake Factory will post 3.32 earnings per share for the current year.

Institutional Trading of Cheesecake Factory

Several large investors have recently modified their holdings of the business. Hennessy Advisors Inc. acquired a new stake in Cheesecake Factory during the fourth quarter worth approximately $63,114,000. Wellington Management Group LLP acquired a new stake in Cheesecake Factory during the fourth quarter worth approximately $56,288,000. Victory Capital Management Inc. boosted its position in Cheesecake Factory by 166.9% during 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 Cheesecake Factory during the fourth quarter worth approximately $21,827,000. Finally, JCP Investment Management LLC raised its stake in Cheesecake Factory by 181.3% during the fourth quarter. JCP Investment Management LLC now owns 667,210 shares of the restaurant operator’s stock worth $31,652,000 after purchasing an additional 430,000 shares during the period. 94.48% of the stock is currently owned by institutional investors and hedge funds.

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.