Deutsche Bank Aktiengesellschaft Raises Cheesecake Factory (NASDAQ:CAKE) Price Target to $38.00

Cheesecake Factory (NASDAQ:CAKE) had its price target raised by Deutsche Bank Aktiengesellschaft from $37.00 to $38.00 in a research note issued on Thursday, Benzinga reports. The brokerage currently has a “hold” rating on the restaurant operator’s stock. Deutsche Bank Aktiengesellschaft’s price objective points to a potential upside of 0.93% from the company’s previous close.

Other analysts also recently issued reports about the stock. Raymond James raised shares of Cheesecake Factory from a “market perform” rating to an “outperform” rating and set a $42.00 price target on the stock in a report on Thursday. Stephens reissued an “overweight” rating and set a $44.00 target price on shares of Cheesecake Factory in a research note on Thursday. Piper Sandler lifted their price target on Cheesecake Factory from $33.00 to $37.00 and gave the company a “neutral” rating in a research note on Thursday, February 22nd. Wedbush increased their price target on Cheesecake Factory from $40.00 to $45.00 and gave the stock an “outperform” rating in a research report on Thursday. Finally, Robert W. Baird raised their price objective on Cheesecake Factory from $32.00 to $37.00 and gave the company a “neutral” rating in a report on Thursday. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Cheesecake Factory has a consensus rating of “Hold” and a consensus target price of $37.67.

Cheesecake Factory Stock Performance

Shares of NASDAQ CAKE traded up $1.59 during trading on Thursday, reaching $37.65. 2,507,915 shares of the company traded hands, compared to its average volume of 960,332. The stock has a market cap of $1.92 billion, a P/E ratio of 17.27, a PEG ratio of 1.18 and a beta of 1.48. The firm’s fifty day simple moving average is $35.20 and its 200 day simple moving average is $34.04. The company has a current ratio of 0.43, a quick ratio of 0.37 and a debt-to-equity ratio of 1.42. Cheesecake Factory has a 12-month low of $28.58 and a 12-month high of $38.19.

Cheesecake Factory (NASDAQ:CAKE) last announced its quarterly earnings results on Wednesday, May 8th. The restaurant operator reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.10. Cheesecake Factory had a return on equity of 42.15% and a net margin of 3.07%. The company had revenue of $891.22 million during the quarter, compared to analysts’ expectations of $890.49 million. During the same period last year, the business earned $0.61 earnings per share. Cheesecake Factory’s quarterly revenue was up 2.9% on a year-over-year basis. As a group, research analysts anticipate that Cheesecake Factory will post 3.11 earnings per share for the current fiscal year.

Institutional Trading of Cheesecake Factory

A number of hedge funds have recently bought and sold shares of the business. First Eagle Investment Management LLC boosted its holdings in shares of Cheesecake Factory by 4.8% during the 1st quarter. First Eagle Investment Management LLC now owns 400,099 shares of the restaurant operator’s stock worth $14,464,000 after purchasing an additional 18,250 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its stake in Cheesecake Factory by 38.7% during the first quarter. State Board of Administration of Florida Retirement System now owns 19,215 shares of the restaurant operator’s stock worth $673,000 after buying an additional 5,360 shares during the last quarter. William Blair Investment Management LLC grew its holdings in Cheesecake Factory by 0.8% in the 1st quarter. William Blair Investment Management LLC now owns 758,783 shares of the restaurant operator’s stock valued at $27,430,000 after buying an additional 6,166 shares in the last quarter. ProShare Advisors LLC increased its stake in shares of Cheesecake Factory by 5.9% in the 1st quarter. ProShare Advisors LLC now owns 9,608 shares of the restaurant operator’s stock worth $347,000 after acquiring an additional 537 shares during the last quarter. Finally, Avantax Advisory Services Inc. purchased a new position in shares of Cheesecake Factory during the 1st quarter worth $202,000. Institutional investors and hedge funds own 94.48% of the company’s stock.

Cheesecake Factory Company Profile

The Cheesecake Factory Incorporated operates and licenses restaurants in the United States and Canada. The company operates bakeries that produce cheesecakes and other baked products for its restaurants, international licensees, third-party bakery customers, external foodservice operators, retailers, and distributors.