Cheesecake Factory Inc (NASDAQ:CAKE) – Analysts at Piper Jaffray Companies decreased their Q1 2019 earnings per share estimates for shares of Cheesecake Factory in a research report issued on Tuesday, October 30th. Piper Jaffray Companies analyst N. Regan now anticipates that the restaurant operator will post earnings per share of $0.62 for the quarter, down from their previous forecast of $0.65.
Several other research analysts have also commented on the stock. UBS Group lowered shares of Cheesecake Factory from a “buy” rating to a “neutral” rating in a research note on Monday, October 15th. BidaskClub lowered shares of Cheesecake Factory from a “buy” rating to a “hold” rating in a research note on Thursday, September 13th. Jefferies Financial Group reaffirmed a “hold” rating and set a $50.00 price objective on shares of Cheesecake Factory in a research note on Wednesday, August 1st. Robert W. Baird lifted their price objective on shares of Cheesecake Factory from $55.00 to $58.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 25th. Finally, ValuEngine lowered shares of Cheesecake Factory from a “buy” rating to a “hold” rating in a research note on Thursday, August 2nd. Seventeen equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Cheesecake Factory currently has a consensus rating of “Hold” and an average target price of $52.13.
Cheesecake Factory (NASDAQ:CAKE) last posted its quarterly earnings data on Tuesday, October 30th. The restaurant operator reported $0.62 EPS for the quarter, topping the consensus estimate of $0.58 by $0.04. The company had revenue of $580.88 million during the quarter, compared to analyst estimates of $585.44 million. Cheesecake Factory had a net margin of 6.02% and a return on equity of 18.07%. Cheesecake Factory’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.56 earnings per share.
Hedge funds have recently added to or reduced their stakes in the stock. Vident Investment Advisory LLC raised its holdings in shares of Cheesecake Factory by 14.4% in the second quarter. Vident Investment Advisory LLC now owns 17,347 shares of the restaurant operator’s stock valued at $955,000 after acquiring an additional 2,181 shares in the last quarter. First Republic Investment Management Inc. raised its holdings in shares of Cheesecake Factory by 10.4% in the second quarter. First Republic Investment Management Inc. now owns 25,072 shares of the restaurant operator’s stock valued at $1,380,000 after acquiring an additional 2,370 shares in the last quarter. Moody Aldrich Partners LLC bought a new stake in shares of Cheesecake Factory in the second quarter valued at about $1,363,000. Phocas Financial Corp. bought a new stake in shares of Cheesecake Factory in the second quarter valued at about $5,634,000. Finally, American Century Companies Inc. raised its holdings in shares of Cheesecake Factory by 19.0% in the second quarter. American Century Companies Inc. now owns 130,020 shares of the restaurant operator’s stock valued at $7,159,000 after acquiring an additional 20,790 shares in the last quarter.
In related news, Director Edie A. Ames bought 500 shares of the stock in a transaction dated Wednesday, August 22nd. The stock was purchased at an average cost of $52.83 per share, with a total value of $26,415.00. Following the completion of the purchase, the director now owns 1,430 shares of the company’s stock, valued at $75,546.90. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Cheryl Slomann sold 1,005 shares of the business’s stock in a transaction on Monday, August 27th. The shares were sold at an average price of $52.94, for a total transaction of $53,204.70. Following the sale, the insider now directly owns 12,106 shares of the company’s stock, valued at $640,891.64. The disclosure for this sale can be found here. 8.80% of the stock is currently owned by insiders.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 27th. Stockholders of record on Wednesday, November 14th will be paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.73%. The ex-dividend date is Tuesday, November 13th. Cheesecake Factory’s dividend payout ratio is currently 50.77%.
About Cheesecake Factory
The Cheesecake Factory Incorporated operates restaurants in the United States. 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 August 21, 2018, it operated 215 company-owned restaurants, including 199 restaurants under The Cheesecake Factory brand; 14 restaurants under the Grand Lux Cafe brand; and 2 restaurants under the RockSugar Southeast Asian Kitchen brand, as well as 21 The Cheesecake Factory branded restaurants under licensing agreements internationally.
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