Fintel reports that on August 4, 2023, Morgan Stanley reiterated coverage of Cheesecake Factory (NASDAQ:CAKE) with a Underweight recommendation.

Analyst Price Forecast Suggests 3.55% Upside

As of August 1, 2023, the average one-year price target for Cheesecake Factory is 37.66. The forecasts range from a low of 30.30 to a high of $49.35. The average price target represents an increase of 3.55% from its latest reported closing price of 36.37.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Cheesecake Factory is 3,596MM, an increase of 5.48%. The projected annual non-GAAP EPS is 3.04.

Cheesecake Factory Declares $0.27 Dividend

On May 10, 2023 the company declared a regular quarterly dividend of $0.27 per share ($1.08 annualized). Shareholders of record as of May 24, 2023 received the payment on June 6, 2023. Previously, the company paid $0.27 per share.

At the current share price of $36.37 / share, the stock's dividend yield is 2.97%.

Looking back five years and taking a sample every week, the average dividend yield has been 3.45%, the lowest has been 2.42%, and the highest has been 9.17%. The standard deviation of yields is 1.22 (n=141).

The current dividend yield is 0.39 standard deviations below the historical average.

Additionally, the company's dividend payout ratio is 0.85. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

What is the Fund Sentiment?

There are 515 funds or institutions reporting positions in Cheesecake Factory. This is a decrease of 11 owner(s) or 2.09% in the last quarter. Average portfolio weight of all funds dedicated to CAKE is 0.13%, a decrease of 20.47%. Total shares owned by institutions decreased in the last three months by 4.79% to 57,605K shares. The put/call ratio of CAKE is 1.22, indicating a bearish outlook.

What are Other Shareholders Doing?

Kayne Anderson Rudnick Investment Management holds 3,799K shares representing 7.40% ownership of the company. In it's prior filing, the firm reported owning 3,778K shares, representing an increase of 0.57%. The firm increased its portfolio allocation in CAKE by 4.77% over the last quarter.

IJR - iShares Core S&P Small-Cap ETF holds 3,488K shares representing 6.79% ownership of the company. In it's prior filing, the firm reported owning 3,544K shares, representing a decrease of 1.61%. The firm increased its portfolio allocation in CAKE by 5.70% over the last quarter.

Earnest Partners holds 3,184K shares representing 6.20% ownership of the company. In it's prior filing, the firm reported owning 2,790K shares, representing an increase of 12.38%. The firm increased its portfolio allocation in CAKE by 19.04% over the last quarter.

Bamco holds 2,587K shares representing 5.04% ownership of the company. In it's prior filing, the firm reported owning 2,807K shares, representing a decrease of 8.49%. The firm decreased its portfolio allocation in CAKE by 8.91% over the last quarter.

BSCFX - BARON SMALL CAP FUND holds 2,200K shares representing 4.28% ownership of the company. In it's prior filing, the firm reported owning 2,250K shares, representing a decrease of 2.27%. The firm decreased its portfolio allocation in CAKE by 0.41% over the last quarter.

Cheesecake Factory Background Information
(This description is provided by the company.)

The Cheesecake Factory Incorporated is a leader in experiential dining. The company is culinary forward and relentlessly focused on hospitality. The Cheesecake Factory currently owns and operates 294 restaurants throughout the United States and Canada under brands including The Cheesecake Factory®, North Italia® and a collection within the Fox Restaurant Concepts subsidiary. Internationally, 27 The Cheesecake Factory® restaurants operate under licensing agreements. Its bakery division operates two facilities that produce quality cheesecakes and other baked products for its restaurants, international licensees and third-party bakery customers. In 2020, the company were named to the FORTUNE Magazine '100 Best Companies to Work For®' list for the seventh consecutive year.

Additional reading:

• THE CHEESECAKE FACTORY REPORTS RESULTS FOR SECOND QUARTER OF FISCAL 2023 AND PROVIDES BUSINESS UPDATE
• Investor Presentation August 2, 2023 Safe Harbor Statement 2 This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as
• THE CHEESECAKE FACTORY REPORTS RESULTS FOR FIRST QUARTER OF FISCAL 2023 AND PROVIDES BUSINESS UPDATE
• Investor Presentation May 10, 2023 Safe Harbor Statement 2 This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as a
• List of Subsidiaries