The Cheesecake Factory Inc. (NASDAQ:CAKE) – Equities research analysts at William Blair increased their FY2017 earnings per share estimates for The Cheesecake Factory in a research note issued to investors on Wednesday. William Blair analyst S. Zackfia now forecasts that the brokerage will earn $3.03 per share for the year, up from their prior estimate of $3.00.
The Cheesecake Factory (NASDAQ:CAKE) last posted its quarterly earnings data on Wednesday, July 27th. The company reported $0.78 EPS for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.07. The Cheesecake Factory had a net margin of 5.81% and a return on equity of 22.04%. The business had revenue of $558.86 million for the quarter, compared to analyst estimates of $562.96 million. During the same quarter last year, the business earned $0.69 earnings per share. The business’s revenue for the quarter was up 5.6% on a year-over-year basis.
Other research analysts also recently issued research reports about the stock. Zacks Investment Research upgraded shares of The Cheesecake Factory from a “hold” rating to a “buy” rating and set a $53.00 price objective on the stock in a report on Tuesday, June 28th. Barclays PLC boosted their price objective on shares of The Cheesecake Factory from $53.00 to $54.00 and gave the stock an “equal weight” rating in a report on Thursday, July 28th. Canaccord Genuity initiated coverage on shares of The Cheesecake Factory in a research report on Monday, August 22nd. They set a “hold” rating and a $54.00 target price on the stock. Robert W. Baird reiterated a “neutral” rating on shares of The Cheesecake Factory in a research report on Thursday, September 8th. Finally, Stifel Nicolaus lowered shares of The Cheesecake Factory from a “buy” rating to a “sell” rating and decreased their target price for the company from $65.00 to $43.00 in a research report on Tuesday, July 26th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $54.73.
The Cheesecake Factory (NASDAQ:CAKE) opened at 51.80 on Thursday. The company’s 50 day moving average is $51.23 and its 200-day moving average is $50.99. The Cheesecake Factory has a 1-year low of $44.16 and a 1-year high of $55.58. The firm has a market cap of $2.40 billion, a price-to-earnings ratio of 20.66 and a beta of 0.45.
In related news, CFO Doug Benn sold 6,512 shares of the business’s stock in a transaction that occurred on Monday, July 25th. The shares were sold at an average price of $53.00, for a total transaction of $345,136.00. Following the completion of the sale, the chief financial officer now directly owns 51,344 shares of the company’s stock, valued at $2,721,232. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 8.50% of the company’s stock.
A number of large investors have recently modified their holdings of CAKE. Macquarie Group Ltd. increased its stake in shares of The Cheesecake Factory by 6.2% in the second quarter. Macquarie Group Ltd. now owns 1,083,891 shares of the company’s stock valued at $52,179,000 after buying an additional 63,744 shares during the last quarter. Mason Street Advisors LLC purchased a new stake in shares of The Cheesecake Factory during the second quarter valued at approximately $980,000. Royal Bank of Canada increased its stake in shares of The Cheesecake Factory by 63.0% in the second quarter. Royal Bank of Canada now owns 27,626 shares of the company’s stock valued at $1,330,000 after buying an additional 10,677 shares during the last quarter. Public Employees Retirement System of Ohio increased its stake in shares of The Cheesecake Factory by 0.3% in the second quarter. Public Employees Retirement System of Ohio now owns 68,569 shares of the company’s stock valued at $3,301,000 after buying an additional 198 shares during the last quarter. Finally, Calvert Investment Management Inc. purchased a new stake in shares of The Cheesecake Factory during the second quarter valued at approximately $3,119,000. 89.48% of the stock is owned by hedge funds and other institutional investors.
The Cheesecake Factory Company Profile
The Cheesecake Factory Incorporated is engaged in the restaurant and bakery business. The Company operates approximately 200 Company-owned restaurants, including approximately 190 restaurants under The Cheesecake Factory mark and approximately 10 restaurants under the Grand Lux Cafe mark. The Company’s segments include The Cheesecake Factory restaurants, and other, which includes Grand Lux Cafe, RockSugar Pan Asian Kitchen, bakery and international licensing.
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