Cheesecake Factory Inc (NASDAQ:CAKE) – Research analysts at Oppenheimer reduced their Q3 2019 earnings per share estimates for shares of Cheesecake Factory in a report issued on Wednesday, May 1st, Zacks Investment Research reports. Oppenheimer analyst B. Bittner now forecasts that the restaurant operator will earn $0.59 per share for the quarter, down from their prior forecast of $0.62. Oppenheimer also issued estimates for Cheesecake Factory’s FY2019 earnings at $2.68 EPS and FY2020 earnings at $2.82 EPS.
A number of other research analysts have also recently commented on the company. BidaskClub cut Cheesecake Factory from a “buy” rating to a “hold” rating in a research report on Wednesday. Raymond James set a $56.00 price target on Cheesecake Factory and gave the company a “buy” rating in a research report on Thursday, May 2nd. Barclays upped their price target on Cheesecake Factory from $40.00 to $42.00 and gave the company an “underweight” rating in a research report on Thursday, May 2nd. Wedbush upped their price target on Cheesecake Factory from $48.00 to $50.00 and gave the company a “neutral” rating in a research report on Thursday, May 2nd. Finally, Maxim Group reissued a “buy” rating and set a $63.00 price objective (up previously from $60.00) on shares of Cheesecake Factory in a report on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and two have assigned a buy rating to the company’s stock. Cheesecake Factory presently has an average rating of “Hold” and an average price target of $52.67.
Cheesecake Factory (NASDAQ:CAKE) last posted its quarterly earnings data on Wednesday, May 1st. The restaurant operator reported $0.62 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.02. Cheesecake Factory had a return on equity of 19.54% and a net margin of 4.24%. The business had revenue of $599.48 million for the quarter, compared to analysts’ expectations of $603.03 million. During the same quarter in the previous year, the firm earned $0.56 earnings per share. The business’s revenue was up 2.5% on a year-over-year basis.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 29th. Investors of record on Thursday, May 16th were issued a dividend of $0.33 per share. The ex-dividend date of this dividend was Wednesday, May 15th. This represents a $1.32 dividend on an annualized basis and a yield of 3.00%. Cheesecake Factory’s dividend payout ratio (DPR) is 54.32%.
In other Cheesecake Factory news, Director Laurence B. Mindel bought 2,000 shares of the firm’s stock in a transaction on Thursday, May 16th. The shares were acquired at an average cost of $47.50 per share, for a total transaction of $95,000.00. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Edie A. Ames bought 700 shares of the firm’s stock in a transaction on Monday, May 13th. The stock was acquired at an average price of $47.18 per share, for a total transaction of $33,026.00. Following the completion of the purchase, the director now directly owns 3,130 shares in the company, valued at $147,673.40. The disclosure for this purchase can be found here. Insiders have purchased a total of 4,326 shares of company stock worth $208,339 in the last three months. 8.50% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Retirement Systems of Alabama increased its position in shares of Cheesecake Factory by 0.4% during the 1st quarter. Retirement Systems of Alabama now owns 54,295 shares of the restaurant operator’s stock valued at $2,656,000 after purchasing an additional 212 shares during the last quarter. Mason Street Advisors LLC increased its position in shares of Cheesecake Factory by 1.5% during the 1st quarter. Mason Street Advisors LLC now owns 22,179 shares of the restaurant operator’s stock valued at $1,085,000 after purchasing an additional 332 shares during the last quarter. Gagnon Securities LLC increased its position in shares of Cheesecake Factory by 2.6% during the 1st quarter. Gagnon Securities LLC now owns 16,596 shares of the restaurant operator’s stock valued at $812,000 after purchasing an additional 426 shares during the last quarter. Thrivent Financial for Lutherans increased its position in shares of Cheesecake Factory by 4.2% during the 4th quarter. Thrivent Financial for Lutherans now owns 10,713 shares of the restaurant operator’s stock valued at $466,000 after purchasing an additional 428 shares during the last quarter. Finally, Meeder Asset Management Inc. increased its position in shares of Cheesecake Factory by 3.4% during the 1st quarter. Meeder Asset Management Inc. now owns 15,337 shares of the restaurant operator’s stock valued at $750,000 after purchasing an additional 504 shares during the last quarter. Institutional investors and hedge funds own 98.26% of the company’s stock.
Cheesecake Factory Company Profile
The Cheesecake Factory Incorporated engages in the operation of restaurants. The company produces cheesecakes and other baked products for own restaurants and international licensees, as well as external foodservice operators, retailers, and distributors. As of April 16, 2019, it owned and operated 219 full-service casual-dining restaurants in the United States, including Puerto Rico and Canada comprising 202 restaurants under The Cheesecake Factory name; 14 restaurants under the Grand Lux Café name; and 2 restaurants under the RockSugar Southeast Asian Kitchen name, as well as 22 The Cheesecake Factory restaurants under licensing agreements internationally.
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