State of Alaska Department of Revenue trimmed its holdings in The Cheesecake Factory Incorporated (NASDAQ:CAKE – Get Rating) by 1.5% in the first quarter, HoldingsChannel.com reports. The firm owned 33,846 shares of the restaurant operator’s stock after selling 505 shares during the quarter. State of Alaska Department of Revenue’s holdings in Cheesecake Factory were worth $1,346,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. Public Sector Pension Investment Board boosted its holdings in Cheesecake Factory by 0.8% in the fourth quarter. Public Sector Pension Investment Board now owns 98,820 shares of the restaurant operator’s stock valued at $3,869,000 after purchasing an additional 770 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Cheesecake Factory by 0.3% in 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. CIBC Asset Management Inc acquired a new position in Cheesecake Factory in the fourth quarter valued at approximately $234,000. First Eagle Investment Management LLC boosted its holdings in shares of Cheesecake Factory by 156.4% in the fourth quarter. First Eagle Investment Management LLC now owns 20,000 shares of the restaurant operator’s stock valued at $783,000 after acquiring an additional 12,200 shares during the period. Finally, First Republic Investment Management Inc. boosted its holdings in shares of Cheesecake Factory by 2.2% in the fourth quarter. First Republic Investment Management Inc. now owns 42,497 shares of the restaurant operator’s stock valued at $1,664,000 after acquiring an additional 910 shares during the period. 87.42% of the stock is owned by hedge funds and other institutional investors.
Several research firms have recently weighed in on CAKE. Citigroup decreased their price objective on Cheesecake Factory from $52.00 to $43.00 and set a “buy” rating for the company in a report on Thursday, June 16th. StockNews.com began coverage on Cheesecake Factory in a report on Thursday, March 31st. They issued a “hold” rating for the company. Deutsche Bank Aktiengesellschaft decreased their price objective on Cheesecake Factory from $47.00 to $43.00 in a report on Thursday, April 28th. Barclays decreased their price objective on Cheesecake Factory from $39.00 to $32.00 and set an “underweight” rating for the company in a report on Thursday, June 9th. Finally, Piper Sandler decreased their price target on Cheesecake Factory from $44.00 to $38.00 and set a “neutral” rating for the company in a report on Monday, June 13th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Cheesecake Factory presently has an average rating of “Hold” and an average target price of $47.50.
Shares of CAKE stock opened at $27.71 on Monday. The Cheesecake Factory Incorporated has a fifty-two week low of $26.12 and a fifty-two week high of $55.31. The stock has a market cap of $1.46 billion, a P/E ratio of 18.47, a P/E/G ratio of 1.15 and a beta of 1.45. The business has a fifty day simple moving average of $31.85 and a 200-day simple moving average of $35.97. The company has a quick ratio of 0.54, a current ratio of 0.62 and a debt-to-equity ratio of 1.31.
Cheesecake Factory (NASDAQ:CAKE – Get Rating) last announced its quarterly earnings results on Wednesday, April 27th. The restaurant operator reported $0.47 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.03). Cheesecake Factory had a net margin of 2.96% and a return on equity of 38.98%. The firm had revenue of $793.71 million during the quarter, compared to analysts’ expectations of $782.10 million. During the same quarter in the prior year, the business earned $0.20 EPS. On average, sell-side analysts anticipate that The Cheesecake Factory Incorporated will post 2.84 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, May 24th. Stockholders of record on Wednesday, May 11th were given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 3.90%. The ex-dividend date of this dividend was Tuesday, May 10th. Cheesecake Factory’s dividend payout ratio is currently 72.00%.
Cheesecake Factory Company Profile (Get Rating)
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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