Cheesecake Factory Inc (NASDAQ:CAKE) Director Laurence B. Mindel bought 1,500 shares of the company’s stock in a transaction dated Monday, May 6th. The shares were purchased at an average price of $49.64 per share, with a total value of $74,460.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
CAKE stock traded down $0.72 during trading on Friday, reaching $43.25. The company had a trading volume of 642,428 shares, compared to its average volume of 781,707. Cheesecake Factory Inc has a 52 week low of $41.63 and a 52 week high of $60.19. The company has a market cap of $1.96 billion, a P/E ratio of 17.80, a PEG ratio of 1.26 and a beta of 0.35. The company has a debt-to-equity ratio of 1.78, a current ratio of 0.35 and a quick ratio of 0.26.
Cheesecake Factory (NASDAQ:CAKE) last released its quarterly earnings results on Wednesday, May 1st. The restaurant operator reported $0.62 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.02. Cheesecake Factory had a net margin of 4.24% and a return on equity of 19.54%. The company had revenue of $599.48 million during the quarter, compared to the consensus estimate of $603.03 million. During the same period in the prior year, the firm earned $0.56 earnings per share. Cheesecake Factory’s revenue was up 2.5% on a year-over-year basis. On average, equities research analysts expect that Cheesecake Factory Inc will post 2.66 earnings per share for the current fiscal year.
Several hedge funds and other institutional investors have recently made changes to their positions in the business. Retirement Systems of Alabama increased its stake in shares of Cheesecake Factory by 0.4% during the first 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 in the last quarter. Mason Street Advisors LLC increased its stake in shares of Cheesecake Factory by 1.5% during the first 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 in the last quarter. Gagnon Securities LLC increased its stake in shares of Cheesecake Factory by 2.6% during the first 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 in the last quarter. Thrivent Financial for Lutherans increased its stake in shares of Cheesecake Factory by 4.2% during the fourth 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 in the last quarter. Finally, Meeder Asset Management Inc. increased its stake in shares of Cheesecake Factory by 3.4% during the first 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 in the last quarter. 98.26% of the stock is owned by institutional investors and hedge funds.
CAKE has been the subject of a number of analyst reports. Maxim Group reiterated a “buy” rating and set a $63.00 target price (up from $60.00) on shares of Cheesecake Factory in a report on Thursday, May 2nd. UBS Group initiated coverage on shares of Cheesecake Factory in a report on Friday, April 26th. They set a “neutral” rating and a $51.00 target price for the company. TheStreet upgraded shares of Cheesecake Factory from a “c+” rating to a “b-” rating in a report on Wednesday, April 24th. BidaskClub lowered shares of Cheesecake Factory from a “hold” rating to a “sell” rating in a report on Saturday, February 2nd. Finally, Bank of America reiterated a “neutral” rating and set a $50.00 target price (down from $56.00) on shares of Cheesecake Factory in a report on Thursday, February 21st. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and two have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $52.67.
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About Cheesecake Factory
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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