Kovitz Investment Group Partners LLC trimmed its position in The Cheesecake Factory (NASDAQ:CAKE) by 2.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 447,769 shares of the restaurant operator’s stock after selling 11,224 shares during the period. Kovitz Investment Group Partners LLC owned 0.98% of The Cheesecake Factory worth $27,574,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of the stock. Victory Capital Management Inc. increased its position in The Cheesecake Factory by 6.5% during the fourth quarter. Victory Capital Management Inc. now owns 19,624 shares of the restaurant operator’s stock valued at $945,000 after acquiring an additional 1,191 shares during the last quarter. Envestnet Asset Management Inc. grew its position in shares of The Cheesecake Factory by 5.4% during the third quarter. Envestnet Asset Management Inc. now owns 23,787 shares of the restaurant operator’s stock worth $1,002,000 after purchasing an additional 1,213 shares in the last quarter. Systematic Financial Management LP grew its position in shares of The Cheesecake Factory by 4.0% during the third quarter. Systematic Financial Management LP now owns 35,760 shares of the restaurant operator’s stock worth $1,506,000 after purchasing an additional 1,360 shares in the last quarter. American International Group Inc. grew its position in shares of The Cheesecake Factory by 1.2% during the third quarter. American International Group Inc. now owns 119,544 shares of the restaurant operator’s stock worth $5,035,000 after purchasing an additional 1,440 shares in the last quarter. Finally, Perennial Advisors LLC grew its position in shares of The Cheesecake Factory by 123.1% during the fourth quarter. Perennial Advisors LLC now owns 2,900 shares of the restaurant operator’s stock worth $140,000 after purchasing an additional 1,600 shares in the last quarter. 97.62% of the stock is currently owned by institutional investors.
A number of brokerages recently commented on CAKE. TheStreet raised The Cheesecake Factory from a “c+” rating to a “b” rating in a research note on Friday, January 5th. BidaskClub lowered The Cheesecake Factory from a “hold” rating to a “sell” rating in a research note on Wednesday, March 14th. Bank of America decreased their price target on The Cheesecake Factory from $54.00 to $52.00 and set a “neutral” rating for the company in a research note on Thursday, February 22nd. BTIG Research raised their price objective on The Cheesecake Factory to $55.00 and gave the stock a “buy” rating in a report on Thursday, February 22nd. Finally, Telsey Advisory Group downgraded The Cheesecake Factory from an “outperform” rating to a “market perform” rating and set a $48.00 price objective on the stock. in a report on Thursday, February 22nd. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating and three have assigned a buy rating to the stock. The Cheesecake Factory has an average rating of “Hold” and a consensus price target of $48.18.
CAKE stock opened at $52.06 on Friday. The Cheesecake Factory has a 1 year low of $38.34 and a 1 year high of $67.14. The company has a market capitalization of $2,374.85, a PE ratio of 20.02, a P/E/G ratio of 1.32 and a beta of 0.29. The company has a quick ratio of 0.42, a current ratio of 0.52 and a debt-to-equity ratio of 0.02.
The Cheesecake Factory (NASDAQ:CAKE) last released its quarterly earnings data on Wednesday, February 21st. The restaurant operator reported $0.53 EPS for the quarter, meeting analysts’ consensus estimates of $0.53. The Cheesecake Factory had a return on equity of 20.30% and a net margin of 6.96%. The firm had revenue of $571.80 million for the quarter, compared to analysts’ expectations of $567.80 million. During the same period in the prior year, the firm posted $0.67 earnings per share. The firm’s quarterly revenue was down 5.2% on a year-over-year basis. equities research analysts predict that The Cheesecake Factory will post 2.73 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 20th. Stockholders of record on Wednesday, February 28th were paid a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 2.23%. The ex-dividend date of this dividend was Tuesday, February 27th. The Cheesecake Factory’s payout ratio is currently 44.62%.
In other news, insider Cheryl Slomann sold 5,500 shares of the stock in a transaction on Monday, March 12th. The stock was sold at an average price of $49.87, for a total value of $274,285.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 8.40% of the stock is currently owned by company insiders.
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The Cheesecake Factory Profile
The Cheesecake Factory Incorporated operates restaurants in the United States. The company produces cheesecakes and other baked products for own restaurants and international licensees, as well as external foodservice operators, retailers, and distributors. As of February 28, 2018, it operated 214 company-owned restaurants, including 199 restaurants under The Cheesecake Factory brand; 13 restaurants under the Grand Lux Cafe brand; and 2 restaurants under the RockSugar Southeast Asian Kitchen brand, as well as 20 The Cheesecake Factory branded restaurants under licensing agreements internationally.
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