Raymond James Financial Services Advisors Inc. Invests $205,000 in The Cheesecake Factory Incorporated (CAKE)

Raymond James Financial Services Advisors Inc. acquired a new stake in shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor acquired 4,073 shares of the restaurant operator’s stock, valued at approximately $205,000.

Other institutional investors have also recently made changes to their positions in the company. Victory Capital Management Inc. increased its position in shares of The Cheesecake Factory by 17.6% during the 2nd quarter. Victory Capital Management Inc. now owns 3,216 shares of the restaurant operator’s stock valued at $162,000 after purchasing an additional 482 shares during the last quarter. PNC Financial Services Group Inc. increased its position in shares of The Cheesecake Factory by 3.3% during the 1st quarter. PNC Financial Services Group Inc. now owns 3,420 shares of the restaurant operator’s stock valued at $218,000 after purchasing an additional 109 shares during the last quarter. Riverhead Capital Management LLC increased its position in shares of The Cheesecake Factory by 105.5% during the 2nd quarter. Riverhead Capital Management LLC now owns 3,493 shares of the restaurant operator’s stock valued at $176,000 after purchasing an additional 1,793 shares during the last quarter. LS Investment Advisors LLC increased its position in shares of The Cheesecake Factory by 17.0% during the 2nd quarter. LS Investment Advisors LLC now owns 4,231 shares of the restaurant operator’s stock valued at $213,000 after purchasing an additional 615 shares during the last quarter. Finally, BlueMountain Capital Management LLC bought a new position in shares of The Cheesecake Factory during the 2nd quarter valued at about $243,000. Hedge funds and other institutional investors own 98.67% of the company’s stock.

The Cheesecake Factory Incorporated (NASDAQ CAKE) opened at $44.29 on Tuesday. The company has a market capitalization of $2,028.75, a P/E ratio of 16.23, a PEG ratio of 1.18 and a beta of 0.29. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.51 and a quick ratio of 0.37. The Cheesecake Factory Incorporated has a one year low of $38.34 and a one year high of $67.14.

The Cheesecake Factory (NASDAQ:CAKE) last released its earnings results on Wednesday, November 1st. The restaurant operator reported $0.56 EPS for the quarter, missing the Zacks’ consensus estimate of $0.60 by ($0.04). The firm had revenue of $555.40 million during the quarter, compared to analysts’ expectations of $566.09 million. The Cheesecake Factory had a net margin of 5.76% and a return on equity of 21.65%. The company’s revenue for the quarter was down .8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.70 EPS. analysts expect that The Cheesecake Factory Incorporated will post 2.61 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 28th. Stockholders of record on Wednesday, November 15th will be paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 2.62%. The ex-dividend date is Tuesday, November 14th. The Cheesecake Factory’s payout ratio is presently 42.80%.

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CAKE has been the topic of several recent research reports. BidaskClub lowered The Cheesecake Factory from a “sell” rating to a “strong sell” rating in a research report on Thursday, July 27th. Barclays PLC reduced their price target on The Cheesecake Factory from $46.00 to $43.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 2nd. Wells Fargo & Company reduced their price target on The Cheesecake Factory from $46.00 to $43.00 and set a “market perform” rating on the stock in a research report on Tuesday, October 24th. Nomura reduced their price target on The Cheesecake Factory from $50.00 to $44.00 and set a “neutral” rating on the stock in a research report on Thursday, August 3rd. Finally, Wedbush lowered The Cheesecake Factory from an “outperform” rating to a “neutral” rating and reduced their price target for the stock from $52.00 to $44.00 in a research report on Tuesday, September 26th. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have issued a buy rating to the company’s stock. The Cheesecake Factory currently has an average rating of “Hold” and a consensus price target of $49.24.

In other news, VP Debby R. Zurzolo sold 2,415 shares of the firm’s stock in a transaction that occurred on Thursday, November 9th. The stock was sold at an average price of $44.20, for a total value of $106,743.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Herbert Simon bought 25,000 shares of the stock in a transaction dated Monday, November 6th. The stock was purchased at an average price of $43.50 per share, with a total value of $1,087,500.00. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 25,730 shares of company stock valued at $1,119,535. 8.40% of the stock is currently owned by company insiders.

The Cheesecake Factory Company Profile

The Cheesecake Factory Incorporated is engaged in the restaurant and bakery business. As of March 2, 2017, the Company operated 208 Company-owned restaurants: 194 under The Cheesecake Factory mark, 13 under the Grand Lux Cafe mark and one under the Rock Sugar Pan Asian Kitchen mark. The Company’s segments include The Cheesecake Factory restaurants, and other.

Institutional Ownership by Quarter for The Cheesecake Factory (NASDAQ:CAKE)

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