Cheesecake Factory Inc (CAKE) was Downgraded by Stifel to ” Sell” while Lowering the Price Target of the company shares to $ 43 from a previous price target of $65 . Earlier the firm had a rating of “Buy ” on the company shares. Stifel advised their investors in a research report released on Jul 26, 2016.
On the company’s financial health, Cheesecake Factory Inc reported $0.68 EPS for the quarter, beating the analyst consensus estimate by $ 0.07 according to the earnings call on Apr 27, 2016. Analyst had a consensus of $0.61. The company had revenue of $553.69 million for the quarter, compared to analysts expectations of $555.08 million. The company’s revenue was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.56 EPS.
Cheesecake Factory Inc opened for trading at $51.34 and hit $51.7 on the upside on Wednesday, eventually ending the session at $51.53, with a gain of 0.57% or 0.29 points. The heightened volatility saw the trading volume jump to 3,57,537 shares. Company has a market cap of $2,499 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.