Zurcher Kantonalbank Zurich Cantonalbank trimmed its holdings in The Cheesecake Factory Incorporated (NASDAQ:CAKE – Get Rating) by 29.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,425 shares of the restaurant operator’s stock after selling 3,090 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Cheesecake Factory were worth $295,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors also recently bought and sold shares of CAKE. Lindbrook Capital LLC grew its holdings in Cheesecake Factory by 996.6% in the first quarter. Lindbrook Capital LLC now owns 2,599 shares of the restaurant operator’s stock worth $103,000 after purchasing an additional 2,362 shares during the period. Frontier Capital Management Co. LLC boosted its position in shares of Cheesecake Factory by 32.5% in 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 purchasing an additional 445,208 shares in the last quarter. Yarbrough Capital LLC grew its stake in shares of Cheesecake Factory by 28.8% in the 1st quarter. Yarbrough Capital LLC now owns 9,185 shares of the restaurant operator’s stock worth $365,000 after buying an additional 2,056 shares during the last quarter. Everence Capital Management Inc. raised its stake in Cheesecake Factory by 56.6% during the first quarter. Everence Capital Management Inc. now owns 8,880 shares of the restaurant operator’s stock valued at $353,000 after buying an additional 3,210 shares during the last quarter. Finally, American Trust bought a new stake in Cheesecake Factory in the fourth quarter worth $264,000. 87.42% of the stock is owned by hedge funds and other institutional investors.
Cheesecake Factory Price Performance
NASDAQ CAKE opened at $27.42 on Friday. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.62 and a quick ratio of 0.54. The Cheesecake Factory Incorporated has a 1-year low of $26.05 and a 1-year high of $55.31. The stock has a market capitalization of $1.45 billion, a price-to-earnings ratio of 18.28, a PEG ratio of 1.15 and a beta of 1.45. The business’s fifty day moving average price is $29.85 and its 200-day moving average price is $35.18.
Cheesecake Factory (NASDAQ:CAKE – Get Rating) last posted its 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). The firm had revenue of $793.71 million during the quarter, compared to the consensus estimate of $782.10 million. Cheesecake Factory had a net margin of 2.96% and a return on equity of 38.98%. During the same period in the prior year, the company posted $0.20 EPS. On average, equities analysts predict that The Cheesecake Factory Incorporated will post 2.77 earnings per share for the current year.
Cheesecake Factory Cuts Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 24th. Investors of record on Wednesday, May 11th were given a dividend of $0.27 per share. The ex-dividend date of this dividend was Tuesday, May 10th. This represents a $1.08 annualized dividend and a yield of 3.94%. Cheesecake Factory’s dividend payout ratio (DPR) is 72.00%.
Analyst Upgrades and Downgrades
Several brokerages have recently weighed in on CAKE. Citigroup reduced their price target 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 started coverage on shares of Cheesecake Factory in a report on Thursday, March 31st. They issued a “hold” rating for the company. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Cheesecake Factory from $43.00 to $35.00 and set a “hold” rating on the stock in a research note on Tuesday, July 5th. Piper Sandler decreased their price objective 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, Morgan Stanley lowered their price objective on Cheesecake Factory from $39.00 to $36.00 and set an “underweight” rating on the stock in a research report on Thursday, April 14th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $46.17.
Cheesecake Factory Company 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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