Cheesecake Factory Shares Upgraded to Buy After 'Exaggerated Selloff' [TheStreet.com]
The Cheesecake Factory Incorporated (CAKE)
Last the cheesecake factory incorporated earnings: 2/19 04:15 pm
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Source: TheStreet.com
Shares of Cheesecake Factory(CAKEGet ReportThe firm’s analysts noted in a commentary that the Calabasas Hills, Calif., chain already has reported its coronavirus-inflicted woes, and they view investors' reaction to the stock as an “exaggerated selloff,” CNBC reports.The shares have dropped 51% over the past month.Cheesecake Factory last week said in a regulatory filing that it furloughed 41,000 hourly workers. It employed 46,250 workers at the end of last year.Meanwhile, “we are not planning to pay rent on our leases for the month of April 2020 at this time,” the company said in the filing.“We are in various stages of discussions with our landlords regarding ongoing rent obligations, including the potential deferral, abatement and/or restructuring of rent otherwise payable during the period of the Covid-19 related closure."The coronavirus has forced restaurants to close their dining rooms around the country, making them rely on takeout and deliveries.Cheesecake Factory said in a state
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CAKE
Earnings
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CAKE
Sec Filings
- 4/18/24 - Form ARS
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- 4/18/24 - Form DEF
- CAKE's page on the SEC website