Northern Trust Corp cut its holdings in Cheesecake Factory Inc (NASDAQ:CAKE) by 0.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 832,630 shares of the restaurant operator’s stock after selling 1,104 shares during the period. Northern Trust Corp owned approximately 1.82% of Cheesecake Factory worth $40,150,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also bought and sold shares of the company. Vident Investment Advisory LLC raised its position in shares of Cheesecake Factory by 78.8% in the 4th quarter. Vident Investment Advisory LLC now owns 10,894 shares of the restaurant operator’s stock worth $525,000 after acquiring an additional 4,800 shares in the last quarter. Gagnon Securities LLC bought a new position in shares of Cheesecake Factory in the 4th quarter worth about $798,000. Stone Ridge Asset Management LLC bought a new position in shares of Cheesecake Factory in the 4th quarter worth about $683,000. Envestnet Asset Management Inc. raised its position in shares of Cheesecake Factory by 21.4% in the 4th quarter. Envestnet Asset Management Inc. now owns 28,868 shares of the restaurant operator’s stock worth $1,391,000 after acquiring an additional 5,081 shares in the last quarter. Finally, UBS Asset Management Americas Inc. raised its position in shares of Cheesecake Factory by 271.7% in the 4th quarter. UBS Asset Management Americas Inc. now owns 323,896 shares of the restaurant operator’s stock worth $15,605,000 after acquiring an additional 236,768 shares in the last quarter. 97.55% of the stock is owned by hedge funds and other institutional investors.
Several research firms have recently weighed in on CAKE. Bank of America lifted their price objective on Cheesecake Factory from $52.00 to $55.00 and gave the stock a “neutral” rating in a research report on Thursday. Maxim Group lifted their price objective on Cheesecake Factory from $57.00 to $60.00 and gave the stock a “buy” rating in a research report on Thursday. BidaskClub raised Cheesecake Factory from a “hold” rating to a “buy” rating in a research report on Thursday, June 7th. Barclays lifted their price objective on Cheesecake Factory from $48.00 to $52.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 26th. Finally, Morgan Stanley boosted their target price on Cheesecake Factory from $49.00 to $51.00 and gave the company an “equal weight” rating in a research report on Thursday, April 26th. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and four have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $49.97.
Shares of Cheesecake Factory opened at $54.86 on Friday, Marketbeat Ratings reports. The stock has a market capitalization of $2.49 billion, a P/E ratio of 21.10, a PEG ratio of 1.41 and a beta of 0.27. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.48 and a quick ratio of 0.36. Cheesecake Factory Inc has a one year low of $38.34 and a one year high of $55.40.
Cheesecake Factory (NASDAQ:CAKE) last released its quarterly earnings results on Wednesday, April 25th. The restaurant operator reported $0.56 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.12). The company had revenue of $590.69 million for the quarter, compared to analyst estimates of $583.76 million. Cheesecake Factory had a net margin of 6.49% and a return on equity of 19.01%. Cheesecake Factory’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.72 EPS. analysts expect that Cheesecake Factory Inc will post 2.68 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, May 22nd. Shareholders of record on Thursday, May 10th were paid a dividend of $0.29 per share. The ex-dividend date was Wednesday, May 9th. This represents a $1.16 dividend on an annualized basis and a yield of 2.11%. Cheesecake Factory’s dividend payout ratio (DPR) is currently 44.62%.
In other Cheesecake Factory news, VP Debby R. Zurzolo sold 1,780 shares of Cheesecake Factory stock in a transaction dated Thursday, May 31st. The stock was sold at an average price of $52.20, for a total transaction of $92,916.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman David Overton sold 93,300 shares of Cheesecake Factory stock in a transaction dated Monday, April 30th. The shares were sold at an average price of $51.93, for a total value of $4,845,069.00. The disclosure for this sale can be found here. Insiders have sold a total of 133,110 shares of company stock valued at $6,953,971 in the last quarter. Company insiders own 8.80% of the company’s stock.
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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