Stifel Nicolaus Downgrades Cheesecake Factory Inc to Sell

Brokerage firm Stifel Nicolaus Downgrades its rating on Cheesecake Factory Inc(NASDAQ:CAKE). The shares have been rated Sell. Previously, the analysts had a Buy rating on the shares. The rating by Stifel Nicolaus was issued on Jul 26, 2016.

Cheesecake Factory Inc (CAKE) shares turned negative on Fridays trading session with the shares closing down -0.46 points or -0.88% at a volume of 11,78,088. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $52.53. The peak price level was also seen at $52.53 while the days lowest was $51.27. Finally the shares closed at $51.73. The 52-week high of the shares is $58.86 while the 52-week low is $44.16. According to the latest information available, the market cap of the company is $2,509 M.

Cheesecake Factory Inc(CAKE) last announced its earnings results on Apr 27, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $553.69M. Analysts had an estimated revenue of $554.99M. Earnings per share were $0.68. Analysts had estimated an EPS of $0.61.

Several Insider Transactions has been reported to the SEC. On May 31, 2016, Max S Byfuglin (President (Subsidiary) sold 14,000 shares at $49.93 per share price.Also, 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.

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