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

The Cheesecake Factory Incorporated (NASDAQ:CAKE) announced a quarterly dividend on Wednesday, October 23rd,Zacks Dividends reports. Shareholders of record on Wednesday, November 13th will be given a dividend of 0.27 per share by the restaurant operator on Tuesday, November 26th. This represents a $1.08 annualized dividend and a yield of 2.32%. The ex-dividend date of this dividend is Wednesday, November 13th.

Cheesecake Factory has increased its dividend by an average of 44.2% per year over the last three years. Cheesecake Factory has a dividend payout ratio of 29.4% meaning its dividend is sufficiently covered by earnings. Analysts expect Cheesecake Factory to earn $3.64 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 29.7%.

Cheesecake Factory Stock Down 1.6 %

Shares of NASDAQ CAKE opened at $46.55 on Monday. Cheesecake Factory has a 52-week low of $30.26 and a 52-week high of $50.75. The firm has a fifty day moving average of $40.99 and a 200-day moving average of $39.00. The stock has a market capitalization of $2.38 billion, a PE ratio of 17.70, a P/E/G ratio of 1.36 and a beta of 1.47. The company has a quick ratio of 0.32, a current ratio of 0.44 and a debt-to-equity ratio of 1.19.

Cheesecake Factory (NASDAQ:CAKE) last announced its quarterly earnings data on Tuesday, October 29th. The restaurant operator reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.11. Cheesecake Factory had a net margin of 3.63% and a return on equity of 43.90%. The company had revenue of $865.50 million during the quarter, compared to analysts’ expectations of $866.13 million. During the same period in the previous year, the company earned $0.39 EPS. The business’s quarterly revenue was up 4.3% compared to the same quarter last year. On average, analysts anticipate that Cheesecake Factory will post 3.3 EPS for the current year.

Analysts Set New Price Targets

Several analysts recently issued reports on CAKE shares. Bank of America increased their price target on Cheesecake Factory from $47.00 to $49.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Barclays increased their price target on Cheesecake Factory from $38.00 to $44.00 and gave the company an “underweight” rating in a report on Wednesday, October 30th. UBS Group upped their price objective on shares of Cheesecake Factory from $32.00 to $36.00 and gave the company a “sell” rating in a research report on Friday, October 25th. Citigroup upped their price objective on shares of Cheesecake Factory from $46.00 to $51.00 and gave the company a “buy” rating in a research report on Friday, October 4th. Finally, Robert W. Baird upped their price objective on shares of Cheesecake Factory from $40.00 to $47.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat, Cheesecake Factory has an average rating of “Hold” and an average price target of $44.17.

Insider Buying and Selling at Cheesecake Factory

In other Cheesecake Factory news, insider Keith Carango sold 13,095 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $49.88, for a total value of $653,178.60. Following the sale, the insider now owns 14,977 shares in the company, valued at approximately $747,052.76. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 8.10% of the stock is owned by company insiders.

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.