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

The Cheesecake Factory Incorporated (NASDAQ:CAKE) declared a quarterly dividend on Tuesday, October 29th, Zacks reports. Investors of record on Wednesday, November 13th will be paid 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 is Wednesday, November 13th.

Cheesecake Factory has raised its dividend payment by an average of 44.2% per year over the last three years. Cheesecake Factory has a dividend payout ratio of 30.3% meaning its dividend is sufficiently covered by earnings. Research analysts expect Cheesecake Factory to earn $3.56 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 30.3%.

Cheesecake Factory Trading Up 8.8 %

Shares of NASDAQ:CAKE opened at $46.64 on Thursday. The business’s 50-day moving average is $40.01 and its 200 day moving average is $38.36. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.43 and a quick ratio of 0.32. The firm has a market capitalization of $2.38 billion, a P/E ratio of 19.51, a P/E/G ratio of 1.13 and a beta of 1.49. Cheesecake Factory has a 1 year low of $29.27 and a 1 year high of $49.75.

Cheesecake Factory (NASDAQ:CAKE) last announced its quarterly earnings data on Tuesday, October 29th. The restaurant operator reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.11. Cheesecake Factory had a return on equity of 43.62% and a net margin of 3.32%. The business had revenue of $865.50 million for the quarter, compared to analyst estimates of $866.13 million. During the same period in the prior year, the company earned $0.39 earnings per share. The company’s revenue was up 4.3% on a year-over-year basis. On average, research analysts predict that Cheesecake Factory will post 3.21 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Bank of America upped their target price on Cheesecake Factory from $47.00 to $49.00 and gave the stock a “neutral” rating in a research note on Wednesday. Wells Fargo & Company increased their target price on Cheesecake Factory from $38.00 to $45.00 and gave the company an “equal weight” rating in a report on Wednesday. JPMorgan Chase & Co. reduced their target price on Cheesecake Factory from $40.00 to $38.00 and set an “underweight” rating for the company in a report on Tuesday, August 6th. 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. Finally, Robert W. Baird increased their price target on Cheesecake Factory from $40.00 to $47.00 and gave the company a “neutral” rating in a report on Wednesday. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Cheesecake Factory has a consensus rating of “Hold” and a consensus price target of $44.17.

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.