The Cheesecake Factory Incorporated (NASDAQ:CAKE – Free Report) – Equities researchers at William Blair cut their Q3 2023 earnings per share estimates for shares of Cheesecake Factory in a research note issued to investors on Thursday, September 21st. William Blair analyst S. Zackfia now expects that the restaurant operator will post earnings of $0.34 per share for the quarter, down from their previous estimate of $0.43. The consensus estimate for Cheesecake Factory’s current full-year earnings is $2.73 per share. William Blair also issued estimates for Cheesecake Factory’s Q4 2023 earnings at $0.81 EPS, FY2023 earnings at $2.64 EPS and FY2024 earnings at $3.05 EPS.
Cheesecake Factory (NASDAQ:CAKE – Get Free Report) last announced its quarterly earnings data on Wednesday, August 2nd. The restaurant operator reported $0.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.07. Cheesecake Factory had a return on equity of 32.08% and a net margin of 1.91%. The company had revenue of $866.20 million for the quarter, compared to analysts’ expectations of $880.15 million. During the same quarter in the prior year, the business posted $0.52 EPS. The business’s revenue was up 4.0% compared to the same quarter last year.
Read Our Latest Stock Report on CAKE
Cheesecake Factory Trading Down 0.7 %
Shares of Cheesecake Factory stock opened at $28.95 on Monday. Cheesecake Factory has a 12-month low of $27.91 and a 12-month high of $41.28. The stock has a market cap of $1.48 billion, a P/E ratio of 22.10, a P/E/G ratio of 2.11 and a beta of 1.48. The company has a quick ratio of 0.38, a current ratio of 0.48 and a debt-to-equity ratio of 1.44. The business’s 50 day moving average is $33.32 and its 200-day moving average is $33.56.
Institutional Trading of Cheesecake Factory
A number of institutional investors have recently modified their holdings of CAKE. Raymond James Financial Services Advisors Inc. lifted its position in shares of Cheesecake Factory by 71.6% during 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 during the period. American Century Companies Inc. lifted its position in shares of Cheesecake Factory by 51.5% during the 1st quarter. American Century Companies Inc. now owns 16,290 shares of the restaurant operator’s stock valued at $648,000 after acquiring an additional 5,537 shares during the period. HighTower Advisors LLC lifted its position in shares of Cheesecake Factory by 7.7% during the 1st quarter. HighTower Advisors LLC now owns 30,953 shares of the restaurant operator’s stock valued at $1,231,000 after acquiring an additional 2,207 shares during the period. Private Advisor Group LLC lifted its position in shares of Cheesecake Factory by 5.6% during the 1st quarter. Private Advisor Group LLC now owns 10,726 shares of the restaurant operator’s stock valued at $426,000 after acquiring an additional 565 shares during the period. Finally, Bank of Montreal Can lifted its position in shares of Cheesecake Factory by 34.8% during the 1st 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 during the period. 88.68% of the stock is currently owned by institutional investors.
Cheesecake Factory Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Tuesday, August 29th. Stockholders of record on Wednesday, August 16th were given a dividend of $0.27 per share. The ex-dividend date was Tuesday, August 15th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 3.73%. Cheesecake Factory’s payout ratio is 82.44%.
About Cheesecake Factory
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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