The Cheesecake Factory Incorporated Declares Quarterly Dividend of $0.27 (NASDAQ:CAKE)

The Cheesecake Factory Incorporated (NASDAQ:CAKEGet Free Report) announced a quarterly dividend on Thursday, February 15th, Zacks reports. Investors of record on Wednesday, March 6th will be paid a dividend of 0.27 per share by the restaurant operator on Tuesday, March 19th. This represents a $1.08 dividend on an annualized basis and a yield of 3.05%. The ex-dividend date of this dividend is Tuesday, March 5th.

Cheesecake Factory has increased its dividend payment by an average of 44.2% annually over the last three years. Cheesecake Factory has a dividend payout ratio of 31.3% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Cheesecake Factory to earn $3.45 per share next year, which means the company should continue to be able to cover its $1.08 annual dividend with an expected future payout ratio of 31.3%.

Cheesecake Factory Trading Up 0.1 %

CAKE stock opened at $35.41 on Monday. The company has a quick ratio of 0.37, a current ratio of 0.46 and a debt-to-equity ratio of 1.48. Cheesecake Factory has a 52-week low of $28.58 and a 52-week high of $38.95. The company’s 50-day simple moving average is $34.39 and its 200-day simple moving average is $32.43. The firm has a market cap of $1.81 billion, a P/E ratio of 17.19, a PEG ratio of 1.14 and a beta of 1.48.

Cheesecake Factory (NASDAQ:CAKEGet Free Report) last issued its quarterly earnings data on Wednesday, February 21st. The restaurant operator reported $0.80 EPS for the quarter, beating the consensus estimate of $0.73 by $0.07. Cheesecake Factory had a return on equity of 41.66% and a net margin of 2.95%. The company had revenue of $877.00 million for the quarter, compared to analyst estimates of $876.17 million. During the same period last year, the company earned $0.56 earnings per share. Cheesecake Factory’s quarterly revenue was down 1.8% compared to the same quarter last year. As a group, equities analysts forecast that Cheesecake Factory will post 3.05 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently commented on CAKE. Oppenheimer reissued a “market perform” rating on shares of Cheesecake Factory in a research note on Thursday, February 22nd. Piper Sandler raised their target price on Cheesecake Factory from $33.00 to $37.00 and gave the company a “neutral” rating in a research report on Thursday, February 22nd. JPMorgan Chase & Co. cut Cheesecake Factory from a “neutral” rating to an “underweight” rating and set a $33.00 price target for the company. in a research report on Tuesday, January 23rd. Wedbush reaffirmed an “outperform” rating and set a $40.00 target price on shares of Cheesecake Factory in a report on Thursday, February 22nd. Finally, Barclays increased their price objective on shares of Cheesecake Factory from $32.00 to $33.00 and gave the company an “underweight” rating in a report on Thursday, February 22nd. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, Cheesecake Factory currently has a consensus rating of “Hold” and a consensus price target of $34.82.

Check Out Our Latest Stock Analysis on CAKE

Institutional Trading of Cheesecake Factory

Several institutional investors have recently added to or reduced their stakes in the stock. Raymond James Financial Services Advisors Inc. grew its position in Cheesecake Factory by 71.6% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 50,091 shares of the restaurant operator’s stock valued at $1,993,000 after acquiring an additional 20,892 shares in the last quarter. American Century Companies Inc. increased its stake in Cheesecake Factory by 51.5% during the 1st quarter. American Century Companies Inc. now owns 16,290 shares of the restaurant operator’s stock worth $648,000 after buying an additional 5,537 shares during the period. HighTower Advisors LLC lifted its holdings in Cheesecake Factory by 7.7% during the 1st quarter. HighTower Advisors LLC now owns 30,953 shares of the restaurant operator’s stock worth $1,231,000 after buying an additional 2,207 shares in the last quarter. Private Advisor Group LLC boosted its position in Cheesecake Factory by 5.6% in the 1st quarter. Private Advisor Group LLC now owns 10,726 shares of the restaurant operator’s stock valued at $426,000 after buying an additional 565 shares during the period. Finally, Bank of Montreal Can raised its stake in shares of Cheesecake Factory by 34.8% in the first quarter. Bank of Montreal Can now owns 20,306 shares of the restaurant operator’s stock valued at $803,000 after acquiring an additional 5,247 shares in the last quarter. Institutional investors and hedge funds own 88.68% of the company’s stock.

About Cheesecake Factory

(Get Free Report)

The Cheesecake Factory Incorporated engages in restaurant business. The company operates two bakeries that produces cheesecakes and other baked products for its restaurants, international licensees, third-party bakery customers, external foodservice operators, retailers, and distributors. It also operates restaurants in the United States and Canada under brands comprising The Cheesecake Factory, North Italia, and a collection of Fox Restaurant Concepts, as well as The Cheesecake Factory restaurants under licensing agreements internationally.

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Dividend History for Cheesecake Factory (NASDAQ:CAKE)

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