Wall Street brokerages expect Cheesecake Factory Inc (NASDAQ:CAKE) to report $610.47 million in sales for the current fiscal quarter, according to Zacks Investment Research. Nine analysts have issued estimates for Cheesecake Factory’s earnings. The lowest sales estimate is $599.57 million and the highest is $615.52 million. Cheesecake Factory reported sales of $593.18 million during the same quarter last year, which indicates a positive year over year growth rate of 2.9%. The business is expected to announce its next earnings report on Tuesday, July 30th.
According to Zacks, analysts expect that Cheesecake Factory will report full year sales of $2.43 billion for the current fiscal year, with estimates ranging from $2.42 billion to $2.46 billion. For the next fiscal year, analysts forecast that the business will report sales of $2.58 billion, with estimates ranging from $2.50 billion to $2.70 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that cover Cheesecake Factory.
Cheesecake Factory (NASDAQ:CAKE) last posted its earnings results on Wednesday, May 1st. The restaurant operator reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.02. The company had revenue of $599.48 million during the quarter, compared to the consensus estimate of $603.03 million. Cheesecake Factory had a net margin of 4.24% and a return on equity of 19.54%. The firm’s quarterly revenue was up 2.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.56 earnings per share.
A number of research analysts have weighed in on CAKE shares. Maxim Group reiterated a “buy” rating and issued a $63.00 price objective (up previously from $60.00) on shares of Cheesecake Factory in a research report on Thursday, May 2nd. UBS Group started coverage on shares of Cheesecake Factory in a research report on Friday, April 26th. They issued a “neutral” rating and a $51.00 price objective for the company. TheStreet upgraded shares of Cheesecake Factory from a “c+” rating to a “b-” rating in a research report on Wednesday, April 24th. Bank of America reiterated a “neutral” rating and issued a $50.00 price objective (down previously from $56.00) on shares of Cheesecake Factory in a research report on Thursday, February 21st. Finally, BidaskClub downgraded shares of Cheesecake Factory from a “sell” rating to a “strong sell” rating in a research report on Friday, March 22nd. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and two have assigned a buy rating to the company. Cheesecake Factory has a consensus rating of “Hold” and a consensus target price of $52.67.
Shares of Cheesecake Factory stock opened at $45.34 on Thursday. The stock has a market capitalization of $2.06 billion, a price-to-earnings ratio of 18.66, a PEG ratio of 1.29 and a beta of 0.45. Cheesecake Factory has a fifty-two week low of $41.63 and a fifty-two week high of $60.19. The company has a debt-to-equity ratio of 1.78, a current ratio of 0.35 and a quick ratio of 0.26.
The business also recently announced a quarterly dividend, which was paid on Wednesday, May 29th. Stockholders of record on Thursday, May 16th were paid a dividend of $0.33 per share. The ex-dividend date was Wednesday, May 15th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.91%. Cheesecake Factory’s dividend payout ratio is currently 54.32%.
In related news, Director Laurence B. Mindel bought 2,000 shares of the business’s stock in a transaction dated Thursday, May 16th. The stock was acquired at an average price of $47.50 per share, with a total value of $95,000.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Edie A. Ames bought 700 shares of the business’s stock in a transaction dated Monday, May 13th. The shares were bought at an average cost of $47.18 per share, with a total value of $33,026.00. Following the purchase, the director now directly owns 3,130 shares of the company’s stock, valued at $147,673.40. The disclosure for this purchase can be found here. Insiders have bought 4,200 shares of company stock valued at $202,486 in the last three months. Corporate insiders own 8.50% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in CAKE. First Trust Advisors LP increased its stake in shares of Cheesecake Factory by 718.0% during the first quarter. First Trust Advisors LP now owns 719,777 shares of the restaurant operator’s stock worth $35,211,000 after purchasing an additional 631,789 shares in the last quarter. Norges Bank purchased a new stake in shares of Cheesecake Factory during the fourth quarter worth about $23,493,000. Wellington Management Group LLP increased its stake in shares of Cheesecake Factory by 14.6% during the first quarter. Wellington Management Group LLP now owns 2,666,639 shares of the restaurant operator’s stock worth $130,452,000 after purchasing an additional 339,664 shares in the last quarter. Deutsche Bank AG increased its stake in shares of Cheesecake Factory by 110.7% during the fourth quarter. Deutsche Bank AG now owns 461,656 shares of the restaurant operator’s stock worth $20,084,000 after purchasing an additional 242,602 shares in the last quarter. Finally, Bessemer Group Inc. increased its stake in shares of Cheesecake Factory by 48.9% during the fourth quarter. Bessemer Group Inc. now owns 677,627 shares of the restaurant operator’s stock worth $29,484,000 after purchasing an additional 222,645 shares in the last quarter. 98.26% of the stock is owned by institutional investors and hedge funds.
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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