Cheesecake Factory Inc (CAKE) reported quarterly earnings results on Wednesday, Jul-27-2016. The company said it had a profit of $0.78 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.07. Analysts had a consensus of $0.71. The company posted revenue of $558.86 million in the period, compared to analysts expectations of $563.38 million. The company’s revenue was up 5.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.69 EPS.
Many Wall Street Analysts have commented on Cheesecake Factory Inc. Shares were Downgraded by Stifel on Jul 26, 2016 to ” Sell” and Lowered the Price Target to $ 43 from a previous price target of $65 .
Cheesecake Factory Inc opened for trading at $52.67 and hit $53.25 on the upside on Thursday, eventually ending the session at $52.19, with a gain of 4.88% or 2.43 points. The heightened volatility saw the trading volume jump to 29,27,221 shares. Company has a market cap of $2,531 M.
In a different news, on May 31, 2016, Max S Byfuglin (President (Subsidiary) sold 14,000 shares at $49.93 per share price. According to the SEC, on May 5, 2016, Debby R Zurzolo (Exec VP, Gen Counsel & Secy) sold 1,481 shares at $52.54 per share price. On Mar 3, 2016, David M Gordon (President) sold 14,800 shares at $51.08 per share price, according to the Form-4 filing with the securities and exchange commission.
The Cheesecake Factory Incorporated is engaged in the restaurant and bakery business. The Company operates approximately 189 Company-owned restaurants: 177 under The Cheesecake Factory mark 11 under the Grand Lux Cafe mark and one under the RockSugar Pan Asian Kitchen mark. It also operates two bakery production facilities which produce desserts for its restaurants international licensees and third-party bakery customers. The Company sells baked goods internationally under both The Cheesecake Factory and The Dream Factory brands in 24 countries including to licensed The Cheesecake Factory restaurants. Items produced for outside accounts are marketed under The Cheesecake Factory brand The Dream Factory brand The Cheesecake Factory Bakery brand and other private labels.