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

The Cheesecake Factory Incorporated (NASDAQ:CAKE) announced a quarterly dividend on Tuesday, October 29th, Zacks reports. Shareholders 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 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date is Wednesday, November 13th.

Cheesecake Factory has raised its dividend payment by an average of 44.2% annually over the last three years. Cheesecake Factory has a payout ratio of 30.3% meaning its dividend is sufficiently covered by earnings. Equities 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 Stock Up 0.3 %

NASDAQ CAKE traded up $0.13 during mid-day trading on Thursday, reaching $46.77. 113,092 shares of the company’s stock traded hands, compared to its average volume of 953,475. Cheesecake Factory has a 1-year low of $29.27 and a 1-year high of $49.75. The company has a fifty day simple moving average of $40.01 and a 200-day simple moving average of $38.36. The company has a current ratio of 0.43, a quick ratio of 0.32 and a debt-to-equity ratio of 1.26. The company has a market cap of $2.38 billion, a price-to-earnings ratio of 19.51, a P/E/G ratio of 1.13 and a beta of 1.49.

Cheesecake Factory (NASDAQ:CAKE) last released its earnings results on Tuesday, October 29th. The restaurant operator reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.11. The company had revenue of $865.50 million for the quarter, compared to the consensus estimate of $866.13 million. Cheesecake Factory had a return on equity of 43.62% and a net margin of 3.32%. Cheesecake Factory’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.39 EPS. As a group, equities research analysts expect that Cheesecake Factory will post 3.21 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on CAKE shares. Barclays lifted their target price on Cheesecake Factory from $38.00 to $44.00 and gave the stock an “underweight” rating in a research report on Wednesday. Bank of America boosted their price objective on Cheesecake Factory from $47.00 to $49.00 and gave the company a “neutral” rating in a research report on Wednesday. Citigroup boosted their price objective on Cheesecake Factory from $46.00 to $51.00 and gave the company a “buy” rating in a research report on Friday, October 4th. Robert W. Baird boosted their price objective on Cheesecake Factory from $40.00 to $47.00 and gave the company a “neutral” rating in a research report on Wednesday. Finally, JPMorgan Chase & Co. reduced their price objective on Cheesecake Factory from $40.00 to $38.00 and set an “underweight” rating for the company in a research report on Tuesday, August 6th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price 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.