Cheesecake Factory Inc (NASDAQ:CAKE) – Equities research analysts at Oppenheimer dropped their Q4 2018 earnings estimates for Cheesecake Factory in a report issued on Tuesday, October 30th. Oppenheimer analyst B. Bittner now anticipates that the restaurant operator will post earnings of $0.62 per share for the quarter, down from their previous estimate of $0.63.
Other equities analysts have also recently issued reports about the company. Barclays lifted their price target on Cheesecake Factory from $52.00 to $56.00 and gave the company a “$58.55” rating in a research report on Wednesday, July 18th. BidaskClub cut Cheesecake Factory from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 2nd. ValuEngine upgraded Cheesecake Factory from a “hold” rating to a “buy” rating in a report on Wednesday, July 11th. TheStreet cut Cheesecake Factory from a “b” rating to a “c+” rating in a report on Tuesday. Finally, Morgan Stanley decreased their target price on Cheesecake Factory from $51.00 to $50.00 and set an “equal weight” rating on the stock in a report on Wednesday, August 1st. Seventeen investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $52.13.
Cheesecake Factory (NASDAQ:CAKE) last issued its quarterly earnings results on Tuesday, October 30th. The restaurant operator reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.04. Cheesecake Factory had a return on equity of 18.07% and a net margin of 6.02%. The company had revenue of $580.88 million for the quarter, compared to analysts’ expectations of $585.44 million. During the same period last year, the firm earned $0.56 EPS. The firm’s revenue for the quarter was up 4.6% on a year-over-year basis.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Vident Investment Advisory LLC raised its holdings in Cheesecake Factory by 14.4% during the second quarter. Vident Investment Advisory LLC now owns 17,347 shares of the restaurant operator’s stock valued at $955,000 after buying an additional 2,181 shares in the last quarter. First Republic Investment Management Inc. raised its holdings in Cheesecake Factory by 10.4% during 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 buying an additional 2,370 shares in the last quarter. Moody Aldrich Partners LLC bought a new position in Cheesecake Factory during the second quarter valued at about $1,363,000. Phocas Financial Corp. bought a new position in Cheesecake Factory during the second quarter valued at about $5,634,000. Finally, American Century Companies Inc. raised its holdings in Cheesecake Factory by 19.0% during the second quarter. American Century Companies Inc. now owns 130,020 shares of the restaurant operator’s stock valued at $7,159,000 after buying an additional 20,790 shares in the last quarter.
In related news, Director Edie A. Ames bought 500 shares of the business’s stock in a transaction on Wednesday, August 22nd. The shares were bought at an average cost of $52.83 per share, for a total transaction of $26,415.00. Following the completion of the acquisition, the director now directly owns 1,430 shares in the company, valued at $75,546.90. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Cheryl Slomann sold 1,005 shares of the firm’s stock in a transaction dated Monday, August 27th. The shares were sold at an average price of $52.94, for a total value of $53,204.70. Following the transaction, the insider now owns 12,106 shares in the company, valued at $640,891.64. The disclosure for this sale can be found here. 8.80% of the stock is currently owned by company insiders.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 27th. Investors of record on Wednesday, November 14th will be given a dividend of $0.33 per share. The ex-dividend date is Tuesday, November 13th. This represents a $1.32 dividend on an annualized basis and a yield of 2.73%. Cheesecake Factory’s payout ratio is 50.77%.
Cheesecake Factory Company Profile
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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