Instinet Reaffirms Neutral Rating for The Cheesecake Factory Incorporated (NASDAQ:CAKE)

The Cheesecake Factory Incorporated (NASDAQ:CAKE)‘s stock had its “neutral” rating reissued by investment analysts at Instinet in a research note issued on Wednesday, August 9th. They presently have a $44.00 price target on the restaurant operator’s stock, down from their prior price target of $50.00. Instinet’s price target would indicate a potential upside of 2.61% from the company’s previous close.

Several other research firms also recently commented on CAKE. Zacks Investment Research upgraded The Cheesecake Factory from a “sell” rating to a “hold” rating in a report on Tuesday, April 25th. Maxim Group reissued a “hold” rating and issued a $65.00 target price (up from $59.00) on shares of The Cheesecake Factory in a research note on Monday, May 1st. Jefferies Group LLC raised The Cheesecake Factory from an “underperform” rating to a “hold” rating and set a $52.00 target price on the stock in a research note on Tuesday, June 13th. They noted that the move was a valuation call. Bank of America Corporation reissued a “neutral” rating and issued a $62.00 target price (down from $67.00) on shares of The Cheesecake Factory in a research note on Wednesday, June 14th. Finally, Robert W. Baird reissued a “neutral” rating and issued a $57.00 target price (down from $60.00) on shares of The Cheesecake Factory in a research note on Wednesday, June 14th. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $54.78.

The Cheesecake Factory (NASDAQ:CAKE) traded down 1.11% during trading on Wednesday, hitting $42.88. The stock had a trading volume of 1,360,456 shares. The Cheesecake Factory has a 52 week low of $42.23 and a 52 week high of $67.14. The stock has a market capitalization of $1.97 billion, a P/E ratio of 15.00 and a beta of 0.31. The company has a 50-day moving average of $47.71 and a 200-day moving average of $56.99.

The Cheesecake Factory (NASDAQ:CAKE) last released its quarterly earnings data on Wednesday, August 2nd. The restaurant operator reported $0.78 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.76 by $0.02. The firm had revenue of $569.87 million for the quarter, compared to the consensus estimate of $573.12 million. The Cheesecake Factory had a return on equity of 22.92% and a net margin of 6.10%. The company’s quarterly revenue was up 2.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.78 earnings per share. On average, equities analysts expect that The Cheesecake Factory will post $2.67 earnings per share for the current fiscal year.

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In other news, VP Debby R. Zurzolo sold 6,424 shares of the business’s stock in a transaction that occurred on Thursday, June 1st. The stock was sold at an average price of $59.09, for a total value of $379,594.16. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 8.50% of the company’s stock.

Hedge funds have recently modified their holdings of the company. BlackRock Inc. boosted its stake in shares of The Cheesecake Factory by 21,381.3% in the first quarter. BlackRock Inc. now owns 4,842,308 shares of the restaurant operator’s stock worth $306,812,000 after buying an additional 4,819,766 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of The Cheesecake Factory by 3.6% in the second quarter. Vanguard Group Inc. now owns 4,171,917 shares of the restaurant operator’s stock worth $209,847,000 after buying an additional 146,756 shares in the last quarter. Neuberger Berman Group LLC boosted its stake in shares of The Cheesecake Factory by 15.7% in the first quarter. Neuberger Berman Group LLC now owns 2,141,608 shares of the restaurant operator’s stock worth $135,692,000 after buying an additional 291,097 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of The Cheesecake Factory by 3.9% in the first quarter. Wellington Management Group LLP now owns 1,846,350 shares of the restaurant operator’s stock worth $116,985,000 after buying an additional 69,832 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of The Cheesecake Factory by 2.1% in the first quarter. Bank of New York Mellon Corp now owns 1,693,864 shares of the restaurant operator’s stock worth $107,324,000 after buying an additional 34,923 shares in the last quarter. 95.16% of the stock is currently owned by hedge funds and other institutional investors.

About The Cheesecake Factory

The Cheesecake Factory Incorporated is engaged in the restaurant and bakery business. As of March 2, 2017, the Company operated 208 Company-owned restaurants: 194 under The Cheesecake Factory mark, 13 under the Grand Lux Cafe mark and one under the Rock Sugar Pan Asian Kitchen mark. The Company’s segments include The Cheesecake Factory restaurants, and other.

Analyst Recommendations for The Cheesecake Factory (NASDAQ:CAKE)

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