Why Cheesecake Factory Inc Stock Crumbled Today
- Author: Zachary Reyes Jun 14, 2017,
Jun 14, 2017, 17:04
$23,288 worth of Cheesecake Factory Inc (NASDAQ:CAKE) was bought by PITTAWAY DAVID BRUCE on Tuesday, May 23. It has underperformed by 42.16% the S&P500.The move comes after 9 months positive chart setup for the $6.90B company.
Cheesecake Factory Inc.'s status as a bright spot in the gloomy casual-dining industry is beginning to fade. The target implies a 14.57% spike from where the shares are now trading. Neuburgh Advisers LLC now owns 3,264 shares of the restaurant operator's stock worth $207,000 after buying an additional 34 shares during the period. Finally, Ameritas Investment Partners Inc. increased its position in The Cheesecake Factory by 225.0% in the third quarter. Mutual of America Capital Management LLC now owns 35,790 shares of the restaurant operator's stock worth $2,268,000 after buying an additional 1,336 shares during the last quarter. The stock has lost -9.86%, reaching at $52.58 after hovering between $52.06 and $53.85. The firm exchanged a volume of 1.06 million shares at hands. The company has market cap of $2.53 billion. Cheesecake Factory has a 52-week low of $46.93 and a 52-week high of $67.14. The company has a 50 day moving average price of $60.81 and a 200-day moving average price of $61.13. The restaurant operator reported $0.72 earnings per share for the quarter, missing the Zacks' consensus estimate of $0.73 by $0.01. The Cheesecake Factory had a return on equity of 23.35% and a net margin of 6.15%. The firm had revenue of $563.43 million during the quarter, compared to analysts' expectations of $565.42 million. On average, equities research analysts expect that The Cheesecake Factory Incorporated will post $2.99 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 30th. The ex-dividend date of this dividend is Monday, May 15th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.65%. There is a large variety of Financial Ratios that can be considered while making an investment decision but here in the case of The Cheesecake Factory Incorporated (CAKE), we will discuss a few. The original version of this news story can be accessed at https://www.thecerbatgem.com/2017/06/13/dynamic-technology-lab-private-ltd-raises-stake-in-the-cheesecake-factory-incorporated-cake.html. If you are accessing this piece of content on another publication, it was copied illegally and republished in violation of USA and global trademark and copyright laws. Cheesecake Factory Inc (NASDAQ:CAKE) has risen 21.63% since June 9, 2016 and is uptrending.
The Cheesecake Factory Incorporated has a consensus hold rating from 19 Wall Street analysts, and the number of shares now sold short amount to at least 19.21% of shares outstanding. The rating was downgraded by Jefferies on Wednesday, January 4 to "Underperform". Science Applications International Corporation has 1 buy ratings, 4 holds and 0 sells even after the stock tumbled -17.08% from its high of $89.87 to a $3.29 billion market value through last close. The Cheesecake Factory now has an average rating of "Hold" and an average target price of $58.33. 13,422 shares were sold by BENN DOUG, worth $832,164. Insiders sold 44,651 shares of company stock valued at $2,778,711 over the last quarter.
In other The Cheesecake Factory news, VP Debby R. Zurzolo sold 6,424 shares of the company's stock in a transaction dated Thursday, June 1st.
About 4.45M shares traded or 304.55% up from the average. The disclosure for this sale can be found here. They expect $0.86 earnings per share, up 10.26% or $0.08 from last year's $0.78 per share. Company insiders own 8.50% of the company's stock.
But unlike recent accusations that millennials are to blame for "killing" chain restaurants, Cheesecake Factory pinned thier woes on Mother Nature. As of March 2, 2017, the Company operated 208 Company-owned restaurants: 194 under The Cheesecake Factory mark, 13 under the Grand Lux Cafe mark and one under the Rock Sugar Pan Asian Kitchen mark. The Company's bakery division operates two bakery production facilities, in Calabasas Hills, CA and Rocky Mount, NC, that produce quality cheesecakes and other baked products for its restaurants, worldwide licensees and third-party bakery customers.