Texas Permanent School Fund decreased its position in shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE – Get Rating) by 2.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,396 shares of the restaurant operator’s stock after selling 737 shares during the quarter. Texas Permanent School Fund owned 0.07% of Cheesecake Factory worth $1,369,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in the company. IndexIQ Advisors LLC acquired a new stake in shares of Cheesecake Factory during the 1st quarter worth approximately $410,000. Aigen Investment Management LP acquired a new stake in Cheesecake Factory during the 1st quarter worth $671,000. Prospera Financial Services Inc acquired a new stake in Cheesecake Factory during the 1st quarter worth $146,000. Versor Investments LP boosted its stake in Cheesecake Factory by 40.9% during the 1st quarter. Versor Investments LP now owns 10,070 shares of the restaurant operator’s stock worth $401,000 after purchasing an additional 2,925 shares during the last quarter. Finally, DAVENPORT & Co LLC boosted its stake in Cheesecake Factory by 1.2% during the 1st quarter. DAVENPORT & Co LLC now owns 34,211 shares of the restaurant operator’s stock worth $1,361,000 after purchasing an additional 414 shares during the last quarter. Institutional investors and hedge funds own 87.42% of the company’s stock.
Wall Street Analysts Forecast Growth
Several brokerages have issued reports on CAKE. Piper Sandler lowered their target price on shares of Cheesecake Factory from $38.00 to $30.00 and set a “neutral” rating on the stock in a research note on Monday, July 11th. UBS Group reduced their price target on Cheesecake Factory from $42.00 to $30.00 and set a “neutral” rating on the stock in a report on Tuesday, July 26th. Deutsche Bank Aktiengesellschaft reduced their price target on Cheesecake Factory from $35.00 to $31.00 in a report on Thursday, July 28th. Morgan Stanley reduced their price target on Cheesecake Factory from $37.00 to $26.00 and set an “underweight” rating on the stock in a report on Monday, July 18th. Finally, Barclays reduced their price target on Cheesecake Factory from $32.00 to $28.00 and set an “underweight” rating on the stock in a report on Thursday, July 28th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $43.31.
Cheesecake Factory Stock Up 4.2 %
Shares of NASDAQ:CAKE opened at $33.67 on Monday. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.63 and a quick ratio of 0.54. The firm has a market capitalization of $1.76 billion, a PE ratio of 20.66, a price-to-earnings-growth ratio of 1.86 and a beta of 1.45. The firm’s 50-day moving average is $28.82 and its two-hundred day moving average is $33.98. The Cheesecake Factory Incorporated has a 1 year low of $26.05 and a 1 year high of $51.19.
Cheesecake Factory (NASDAQ:CAKE – Get Rating) last announced its quarterly earnings data on Wednesday, July 27th. The restaurant operator reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.27). Cheesecake Factory had a return on equity of 31.69% and a net margin of 2.65%. The company had revenue of $832.60 million for the quarter, compared to analyst estimates of $836.64 million. During the same period in the prior year, the firm posted $0.80 earnings per share. The business’s quarterly revenue was up 8.3% compared to the same quarter last year. Analysts predict that The Cheesecake Factory Incorporated will post 2.13 EPS for the current year.
Cheesecake Factory Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 23rd. Stockholders of record on Wednesday, August 10th will be given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 3.21%. The ex-dividend date is Tuesday, August 9th. Cheesecake Factory’s dividend payout ratio is presently 66.26%.
About Cheesecake Factory
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.
Featured Articles
Want to see what other hedge funds are holding CAKE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Cheesecake Factory Incorporated (NASDAQ:CAKE – Get Rating).
Receive News & Ratings for Cheesecake Factory Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Cheesecake Factory and related companies with MarketBeat.com’s FREE daily email newsletter.
