Raymond James & Associates raised its stake in The Cheesecake Factory (NASDAQ:CAKE) by 9.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 70,996 shares of the restaurant operator’s stock after purchasing an additional 6,379 shares during the period. Raymond James & Associates owned about 0.16% of The Cheesecake Factory worth $3,421,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds also recently bought and sold shares of the company. Perennial Advisors LLC raised its position in The Cheesecake Factory by 123.1% in the 4th quarter. Perennial Advisors LLC now owns 2,900 shares of the restaurant operator’s stock valued at $140,000 after purchasing an additional 1,600 shares in the last quarter. Atria Investments LLC acquired a new stake in The Cheesecake Factory in the 4th quarter valued at about $255,000. Raymond James Financial Services Advisors Inc. acquired a new stake in The Cheesecake Factory in the 4th quarter valued at about $256,000. Vident Investment Advisory LLC acquired a new stake in The Cheesecake Factory in the 3rd quarter valued at about $257,000. Finally, Washington Capital Management Inc. acquired a new stake in The Cheesecake Factory in the 4th quarter valued at about $304,000. 97.62% of the stock is currently owned by institutional investors.
A number of research firms have issued reports on CAKE. Zacks Investment Research raised The Cheesecake Factory from a “sell” rating to a “hold” rating in a research report on Thursday, January 4th. Piper Jaffray increased their price target on The Cheesecake Factory from $45.00 to $52.00 and gave the company an “overweight” rating in a research report on Monday, January 8th. Canaccord Genuity reaffirmed a “hold” rating and issued a $54.00 price target on shares of The Cheesecake Factory in a research report on Monday, January 8th. BidaskClub raised The Cheesecake Factory from a “sell” rating to a “hold” rating in a research report on Friday, January 26th. Finally, Barclays increased their price target on The Cheesecake Factory from $47.00 to $48.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 24th. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and three have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $48.18.
CAKE opened at $52.06 on Friday. The Cheesecake Factory has a one year low of $38.34 and a one year high of $67.14. The stock has a market capitalization of $2,374.85, a PE ratio of 19.98, a price-to-earnings-growth ratio of 1.32 and a beta of 0.29. The company has a current ratio of 0.52, a quick ratio of 0.42 and a debt-to-equity ratio of 0.02.
The Cheesecake Factory (NASDAQ:CAKE) last released its quarterly earnings results on Wednesday, February 21st. The restaurant operator reported $0.53 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.53. The firm had revenue of $571.80 million for the quarter, compared to the consensus estimate of $567.80 million. The Cheesecake Factory had a return on equity of 20.30% and a net margin of 6.96%. The firm’s quarterly revenue was down 5.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.67 EPS. research analysts expect that The Cheesecake Factory will post 2.73 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, March 20th. Investors of record on Wednesday, February 28th were paid a dividend of $0.29 per share. The ex-dividend date of this dividend was Tuesday, February 27th. This represents a $1.16 dividend on an annualized basis and a yield of 2.23%. The Cheesecake Factory’s dividend payout ratio is presently 44.62%.
In related news, insider Cheryl Slomann sold 5,500 shares of the firm’s stock in a transaction that occurred on Monday, March 12th. The stock was sold at an average price of $49.87, for a total transaction of $274,285.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 8.40% of the company’s stock.
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About The Cheesecake Factory
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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