Prospera Financial Services Inc purchased a new position in shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE – Get Rating) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 3,671 shares of the restaurant operator’s stock, valued at approximately $146,000.
A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Frontier Capital Management Co. LLC grew its position in shares of Cheesecake Factory by 32.5% during the 1st quarter. Frontier Capital Management Co. LLC now owns 1,816,789 shares of the restaurant operator’s stock worth $72,290,000 after buying an additional 445,208 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Cheesecake Factory by 0.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,001,790 shares of the restaurant operator’s stock valued at $39,221,000 after purchasing an additional 3,187 shares in the last quarter. Geode Capital Management LLC boosted its position in Cheesecake Factory by 2.5% during the fourth quarter. Geode Capital Management LLC now owns 818,673 shares of the restaurant operator’s stock valued at $32,051,000 after purchasing an additional 20,106 shares in the last quarter. Scopia Capital Management LP boosted its position in Cheesecake Factory by 19.4% during the fourth quarter. Scopia Capital Management LP now owns 627,799 shares of the restaurant operator’s stock valued at $24,578,000 after purchasing an additional 102,216 shares in the last quarter. Finally, Northern Trust Corp boosted its position in Cheesecake Factory by 0.8% during the fourth quarter. Northern Trust Corp now owns 511,160 shares of the restaurant operator’s stock valued at $20,012,000 after purchasing an additional 4,145 shares in the last quarter. Institutional investors own 87.42% of the company’s stock.
Cheesecake Factory Trading Down 3.3 %
Shares of NASDAQ:CAKE opened at $29.96 on Friday. The Cheesecake Factory Incorporated has a 52-week low of $26.05 and a 52-week high of $51.19. The stock has a market cap of $1.58 billion, a price-to-earnings ratio of 18.38, a PEG ratio of 1.61 and a beta of 1.45. The company has a quick ratio of 0.54, a current ratio of 0.63 and a debt-to-equity ratio of 1.29. The business has a 50-day moving average price of $29.00 and a 200-day moving average price of $34.21.
Cheesecake Factory (NASDAQ:CAKE – Get Rating) last announced its quarterly earnings results on Wednesday, July 27th. The restaurant operator reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.79 by ($0.27). The company had revenue of $832.60 million for the quarter, compared to analysts’ expectations of $836.64 million. Cheesecake Factory had a net margin of 2.65% and a return on equity of 31.69%. The firm’s revenue was up 8.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.80 earnings per share. Equities analysts predict that The Cheesecake Factory Incorporated will post 2.13 EPS for the current year.
Cheesecake Factory Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 23rd. Investors of record on Wednesday, August 10th will be given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 3.60%. The ex-dividend date is Tuesday, August 9th. Cheesecake Factory’s dividend payout ratio is currently 66.26%.
Analysts Set New Price Targets
A number of equities research analysts recently weighed in on CAKE shares. Citigroup raised their price objective on Cheesecake Factory from $39.00 to $40.00 in a research report on Thursday, July 28th. Barclays dropped their price objective on Cheesecake Factory from $32.00 to $28.00 and set an “underweight” rating on the stock in a research report on Thursday, July 28th. Piper Sandler decreased their price target on Cheesecake Factory from $38.00 to $30.00 and set a “neutral” rating for the company in a research note on Monday, July 11th. Deutsche Bank Aktiengesellschaft decreased their price target on Cheesecake Factory from $35.00 to $31.00 in a research note on Thursday, July 28th. Finally, Morgan Stanley decreased their price target on Cheesecake Factory from $37.00 to $26.00 and set an “underweight” rating for the company in a research note on Monday, July 18th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $43.31.
Cheesecake Factory Profile
The Cheesecake Factory Incorporated operates restaurants. It operates two bakeries that produces cheesecakes and other baked products for its restaurants, international licensees, third-party bakery customers, external foodservice operators, retailers, and distributors. The company owns and operates 306 restaurants throughout the United States and Canada under brands, including 208 The Cheesecake Factory and 29 North Italia; and a collection of Fox Restaurant Concepts, as well as 29 The Cheesecake Factory restaurants under licensing agreements internationally.
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