Tcwp LLC bought a new stake in shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE – Get Rating) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,097 shares of the restaurant operator’s stock, valued at approximately $43,000.
A number of other hedge funds have also recently modified their holdings of the business. Gagnon Securities LLC boosted its holdings in Cheesecake Factory by 15.9% during the 1st quarter. Gagnon Securities LLC now owns 206,034 shares of the restaurant operator’s stock valued at $8,198,000 after acquiring an additional 28,249 shares during the period. Swiss National Bank boosted its stake in shares of Cheesecake Factory by 7.4% during the first quarter. Swiss National Bank now owns 117,200 shares of the restaurant operator’s stock valued at $4,663,000 after purchasing an additional 8,100 shares during the period. Trustcore Financial Services LLC grew its holdings in shares of Cheesecake Factory by 51.4% in the first quarter. Trustcore Financial Services LLC now owns 20,096 shares of the restaurant operator’s stock worth $800,000 after purchasing an additional 6,821 shares during the last quarter. Teacher Retirement System of Texas increased its stake in Cheesecake Factory by 4.8% in the 1st quarter. Teacher Retirement System of Texas now owns 10,148 shares of the restaurant operator’s stock worth $404,000 after buying an additional 468 shares during the period. Finally, Great Lakes Advisors LLC grew its stake in Cheesecake Factory by 68.4% in the 1st quarter. Great Lakes Advisors LLC now owns 70,456 shares of the restaurant operator’s stock worth $2,803,000 after acquiring an additional 28,607 shares in the last quarter. Institutional investors own 87.42% of the company’s stock.
Analyst Upgrades and Downgrades
Several analysts have recently weighed in on CAKE shares. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Cheesecake Factory from $35.00 to $31.00 in a research note on Thursday, July 28th. Morgan Stanley decreased their price objective on Cheesecake Factory from $37.00 to $26.00 and set an “underweight” rating for the company in a report on Monday, July 18th. UBS Group dropped their target price on shares of Cheesecake Factory from $42.00 to $30.00 and set a “neutral” rating on the stock in a report on Tuesday, July 26th. Piper Sandler reduced their price target on shares of Cheesecake Factory from $38.00 to $30.00 and set a “neutral” rating for the company in a report on Monday, July 11th. Finally, Citigroup increased their price objective on shares of Cheesecake Factory from $39.00 to $40.00 in a research note on Thursday, July 28th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $42.83.
Cheesecake Factory Stock Performance
Shares of CAKE stock opened at $32.78 on Friday. The Cheesecake Factory Incorporated has a 12-month low of $26.05 and a 12-month high of $51.19. The business’s fifty day simple moving average is $29.00 and its 200-day simple moving average is $33.90. The company has a current ratio of 0.63, a quick ratio of 0.54 and a debt-to-equity ratio of 1.29. The company has a market cap of $1.71 billion, a PE ratio of 20.11, a PEG ratio of 1.89 and a beta of 1.45.
Cheesecake Factory (NASDAQ:CAKE – Get Rating) last announced its earnings results on Wednesday, July 27th. The restaurant operator reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.79 by ($0.27). The business had revenue of $832.60 million for the quarter, compared to analyst estimates of $836.64 million. Cheesecake Factory had a net margin of 2.65% and a return on equity of 31.69%. The company’s quarterly revenue was up 8.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.80 earnings per share. Analysts expect that The Cheesecake Factory Incorporated will post 2.04 earnings per share for the current fiscal year.
Cheesecake Factory Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 23rd. Shareholders 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 3.29%. The ex-dividend date of this dividend is Tuesday, August 9th. Cheesecake Factory’s dividend payout ratio is presently 66.26%.
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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