Fintel reports that on December 21, 2023, Wedbush upgraded its outlook for Cheesecake Factory (NasdaqGS: CAKE ) from Neutral to Get over it .
Analytical Price Forecast Suggests 5.76% Deterioration
As of December 16, 2023, the average one-year price target for Cheesecake Factory is 33.46. The forecasts range from a low of 26.26 to a high of $42.00. The average price target represents a decrease of 5.76% from its last reported close price of 35.50.
See our leaderboard of companies with the largest price target.
The projected annual revenue for Cheesecake Factory is 3,596MM, an increase of 4.07%. The projected annual non-GAAP EPS is 3.04.
Cheesecake Factory Declares $0.27 Dividend
On November 1, 2023 the company declared a regular quarterly dividend of $0.27 per share ($1.08 annually). Shareholders registered until November 15, 2023 received the payment on November 28, 2023. Previously, the company paid $0.27 per share.
At the current share price of $35.50/share, the stock’s dividend yield is 3.04%.
Looking back five years and taking a sample every week, the average dividend yield was 3.56%, the lowest was 2.60%, and the highest was 9.17%. The standard deviation of returns is 1.18 (n=141).
The current dividend yield is 0.44 standard deviations below the historical average.
Additionally, the company’s dividend payout ratio is 0.64. The payout ratio tells us how much of a company’s income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company’s income is paid out in dividends. A payout ratio greater than one means the company is dipping into savings to maintain its dividend — not a healthy situation. Companies with few growth prospects are expected to pay out most of their earnings in dividends, which usually means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
What is the Basic Sense?
There are 505 funds or institutions reporting positions in Cheesecake Factory. This is a decrease of 10 owner(s) or 1.94% in the last quarter. Average portfolio weight of all funds dedicated to CAKE is 0.12%, a decrease of 2.04%. Total shares owned by institutions decreased in the last three months by 2.73% to 53,686K shares. CAKE’s put/call ratio is 1.02, indicating a bearish outlook.
What Are Other Shareholders Doing?
Kayne Anderson Rudnick Investment Management holds 3,388K shares representing 6.67% ownership of the company. In its previous filing, the company reported owning 3,572K shares, representing decline of 5.44%. The company decreased its portfolio allocation in CAKE by 41.56% during the last quarter.
IJR – iShares Core S&P Small-Cap ETF holds 3,186K shares representing 6.27% ownership of the company. In its previous filing, the company reported owning 3,343K shares, representing decline of 4.94%. The company decreased its portfolio allocation in CAKE by 13.38% during the last quarter.
Earnest Partners holds 2,883K shares representing 5.68% ownership of the company. In its previous filing, the company reported owning 3,004K shares, representing decline of 4.17%. The company decreased its portfolio allocation in CAKE by 13.21% during the last quarter.
BSCFX – BARON SMALL CAP FUND holds 2,200K shares representing 4.33% ownership of the company. No change in the last quarter.
Bamco holds 2,200K shares representing 4.33% ownership of the company. In its previous filing, the company reported owning 2,415K shares, representing decline of 9.77%. The company decreased its portfolio allocation in CAKE by 16.24% during the last quarter.
Cheese Factory Background Information
(This description is provided by the company.)
The Cheesecake Factory Incorporated is a leader in experiential dining. The company is culinary forward and has continuously focused on hospitality. The Cheesecake Factory currently owns and operates 294 restaurants throughout the United States and Canada under brands including The Cheesecake Factory®, North Italia® and a collection within the Fox Restaurant Concepts subsidiary. Internationally, 27 The Cheesecake Factory® restaurants operate under license agreements. Its bakery division operates two facilities that produce quality cheesecakes and other baked products for its restaurants, international licensees and third-party bakery customers. In 2020, the company was named to FORTUNE Magazine’s “100 Best Companies to Work For®” list for the seventh consecutive year.
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This story originally appeared on Fintel.
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