The Cheesecake Factory Incorporated (NASDAQ:CAKE) – Investment analysts at Wedbush boosted their Q2 2021 earnings per share (EPS) estimates for shares of The Cheesecake Factory in a research note issued on Monday, June 14th. Wedbush analyst N. Setyan now anticipates that the restaurant operator will post earnings of $0.75 per share for the quarter, up from their previous estimate of $0.73. Wedbush currently has a “Outperform” rating and a $70.00 target price on the stock. Wedbush also issued estimates for The Cheesecake Factory’s Q3 2021 earnings at $0.67 EPS, Q4 2021 earnings at $0.64 EPS, FY2021 earnings at $2.15 EPS, Q1 2022 earnings at $0.84 EPS and Q2 2022 earnings at $0.86 EPS.
A number of other analysts have also issued reports on the stock. The Goldman Sachs Group increased their price target on shares of The Cheesecake Factory from $37.00 to $47.00 and gave the stock a “neutral” rating in a research report on Thursday, February 25th. Stephens lowered their price objective on shares of The Cheesecake Factory from $60.00 to $55.00 and set an “equal weight” rating on the stock in a research note on Wednesday, June 9th. Credit Suisse Group raised their target price on The Cheesecake Factory from $47.00 to $58.00 and gave the stock a “neutral” rating in a research report on Thursday, April 29th. Raymond James reissued a “hold” rating on shares of The Cheesecake Factory in a report on Thursday, June 3rd. Finally, Morgan Stanley lifted their price target on The Cheesecake Factory from $41.00 to $45.00 and gave the company an “underweight” rating in a report on Thursday, April 29th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $53.14.
CAKE stock opened at $56.02 on Tuesday. The company has a quick ratio of 0.55, a current ratio of 0.62 and a debt-to-equity ratio of 0.88. The Cheesecake Factory has a one year low of $19.78 and a one year high of $65.81. The stock has a market capitalization of $2.61 billion, a price-to-earnings ratio of -17.24, a PEG ratio of 3.05 and a beta of 1.77. The firm’s 50-day moving average price is $58.76. The Cheesecake Factory (NASDAQ:CAKE) last posted its quarterly earnings data on Wednesday, April 28th. The restaurant operator reported $0.20 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.06) by $0.26. The Cheesecake Factory had a negative net margin of 5.68% and a negative return on equity of 20.30%. The company had revenue of $627.40 million during the quarter, compared to analyst estimates of $596.42 million. During the same quarter last year, the firm posted $0.13 EPS. The business’s revenue for the quarter was up 2.0% on a year-over-year basis.
In related news, insider Cheryl Slomann sold 7,500 shares of the company’s stock in a transaction that occurred on Friday, April 30th. The stock was sold at an average price of $61.57, for a total value of $461,775.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Matthew Eliot Clark sold 4,000 shares of the company’s stock in a transaction that occurred on Friday, May 7th. The stock was sold at an average price of $63.86, for a total value of $255,440.00. Following the completion of the sale, the chief financial officer now owns 18,370 shares in the company, valued at approximately $1,173,108.20. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 95,160 shares of company stock valued at $5,934,989. 8.70% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently modified their holdings of CAKE. FORA Capital LLC bought a new position in shares of The Cheesecake Factory during the 1st quarter valued at $54,000. Veriti Management LLC bought a new position in shares of The Cheesecake Factory during the 4th quarter valued at $61,000. First Mercantile Trust Co. bought a new position in shares of The Cheesecake Factory during the 1st quarter valued at $80,000. Captrust Financial Advisors raised its holdings in The Cheesecake Factory by 218.8% in the 1st quarter. Captrust Financial Advisors now owns 1,852 shares of the restaurant operator’s stock worth $108,000 after purchasing an additional 1,271 shares during the period. Finally, Alpha DNA Investment Management LLC bought a new position in The Cheesecake Factory in the 4th quarter worth $131,000. Institutional investors and hedge funds own 82.86% of the company’s stock.
About The Cheesecake Factory
The Cheesecake Factory Incorporated operates restaurants. The company produces cheesecakes and other baked products for its restaurants, international licensees, and third-party bakery customers, as well as external foodservice operators, retailers, and distributors. It owns and operates 294 restaurants throughout the United States and Canada under brands, including The Cheesecake Factory and North Italia; and a collection of Fox Restaurant Concepts, as well as 27 The Cheesecake Factory restaurants under licensing agreements internationally.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to [email protected]
Featured Article: Is a Roth IRA right for you?
Bellwether stocks are considered to be leading indicators about the direction of the overall economy, a specific sector, or the broader market. They are predictive stocks in that investors can use the company’s earnings reports to gauge economic strength or weakness.
The traditional definition of bellwether stocks brings to mind established, blue-chip companies. They are the home of mature brands with consumer loyalty. These may be stocks that aren’t associated with exceptional growth; some may be dividend stocks.
But there’s something different about normal this time around. If it’s true (and I think it is) that the old rules no longer apply, investors need to change the way they think about bellwether stocks. Plus, let’s face it, many stocks that we might consider to be bellwether stocks have already had a bit of a vaccine rally. That means that the easy gains are gone.
With that in mind, we’ve put together this special presentation that highlights seven of what may be termed the new bellwether stocks. These are stocks that investors should be paying attention to as the economy continues to reopen.
One quality of many of these stocks is that they are either negative for 2021 or underperforming the broader market. And that means that they are likely to have a strong upside as the economy grows.