A Brief Overview of Cheesecake Factory
The Cheesecake Factory Incorporated is an American restaurant company and distributor of cheesecakes based in the United States. The company operates over 200 casual-dining restaurants in the United States, in addition to owning and operating two bakery production facilities. It is headquartered in Calabasas, California. The Cheesecake Factory was founded in 1972 by David M. Overton and is now publicly traded on the NASDAQ stock exchange.
Cheesecake Factory Stock History
The Cheesecake Factory's stock first began trading on the NASDAQ on June 8, 1992. The stock was trading at a split-adjusted price of $1.00 per share. Since then, the stock has steadily increased in value, with the stock trading at an all-time high of $80.90 per share on April 7, 2021. The company has also declared a quarterly dividend since 2012, with the current dividend amounting to $0.34 per share.
Cheesecake Factory Stock Performance
Since its initial public offering in 1992, the Cheesecake Factory's stock has performed very well. Over the past 5 years, the company's stock has returned an average of 21.67%, outperforming both the S&P 500 Index and the restaurant industry benchmark by a wide margin. In 2020, despite the COVID-19 pandemic, the stock was up by over 19%.
Cheesecake Factory Dividend History
The Cheesecake Factory has been paying a quarterly dividend since 2012. Over the past 8 years, the company has steadily increased its dividend payout, with the current dividend amounting to $0.34 per share. The dividend yield currently stands at 1.02%.
Cheesecake Factory Stock Buybacks
The Cheesecake Factory has also been active in the stock buyback program over the past few years. The company has repurchased over 5 million shares of its common stock since 2018, with the total amount spent on buybacks amounting to over $200 million. This has helped to reduce the company's outstanding share count and increase the value of its stock.
Cheesecake Factory Stock Price Forecast
The Cheesecake Factory's stock has been on a steady upward trajectory over the past few years. Analysts expect the stock to continue to outperform the broader market in the years ahead, with the stock forecast to reach $90 per share by the end of 2023. This would represent a return of over 13% from the current price.
Final Thoughts
The Cheesecake Factory's stock has been a stellar performer since its initial public offering in 1992. The company's stock has outperformed the broader market and its industry peers over the past 5 years, and analysts expect this trend to continue in the years ahead. The company's dividend and stock buyback programs have also been a boon for shareholders, with the stock currently yielding 1.02%.