MUFG Securities EMEA plc purchased a new position in shares of Cheesecake Factory Inc (NASDAQ:CAKE) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 2,739 shares of the restaurant operator’s stock, valued at approximately $120,000.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Gagnon Securities LLC grew its holdings in shares of Cheesecake Factory by 2.6% during the first quarter. Gagnon Securities LLC now owns 16,596 shares of the restaurant operator’s stock worth $812,000 after buying an additional 426 shares in the last quarter. Victory Capital Management Inc. grew its holdings in shares of Cheesecake Factory by 50.3% during the first quarter. Victory Capital Management Inc. now owns 30,474 shares of the restaurant operator’s stock worth $1,491,000 after buying an additional 10,200 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. purchased a new stake in Cheesecake Factory in the first quarter valued at approximately $251,000. Kayne Anderson Rudnick Investment Management LLC grew its holdings in Cheesecake Factory by 6.4% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,701,345 shares of the restaurant operator’s stock valued at $132,150,000 after purchasing an additional 163,232 shares during the period. Finally, Dynamic Technology Lab Private Ltd grew its holdings in Cheesecake Factory by 28.7% in the first quarter. Dynamic Technology Lab Private Ltd now owns 39,578 shares of the restaurant operator’s stock valued at $1,936,000 after purchasing an additional 8,837 shares during the period.
In related news, Director Edie A. Ames purchased 750 shares of the stock in a transaction on Tuesday, August 6th. The shares were bought at an average price of $42.18 per share, for a total transaction of $31,635.00. Following the completion of the acquisition, the director now directly owns 3,880 shares in the company, valued at approximately $163,658.40. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Laurence B. Mindel purchased 2,500 shares of the stock in a transaction on Monday, August 12th. The shares were bought at an average price of $39.04 per share, for a total transaction of $97,600.00. The disclosure for this purchase can be found here. Corporate insiders own 8.50% of the company’s stock.
Shares of NASDAQ CAKE traded up $0.21 during mid-day trading on Friday, reaching $42.37. The company had a trading volume of 29,988 shares, compared to its average volume of 781,803. The stock has a fifty day moving average of $39.92 and a two-hundred day moving average of $44.60. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.26 and a current ratio of 0.36. The company has a market capitalization of $1.93 billion, a price-to-earnings ratio of 17.43, a PEG ratio of 1.27 and a beta of 0.43. Cheesecake Factory Inc has a 12-month low of $35.83 and a 12-month high of $54.35.
Cheesecake Factory (NASDAQ:CAKE) last posted its quarterly earnings results on Wednesday, July 31st. The restaurant operator reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.01. The business had revenue of $602.65 million during the quarter, compared to analyst estimates of $612.16 million. Cheesecake Factory had a net margin of 4.52% and a return on equity of 21.31%. The firm’s revenue was up 2.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.61 earnings per share. Sell-side analysts forecast that Cheesecake Factory Inc will post 2.62 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 27th. Investors of record on Wednesday, August 14th were issued a $0.36 dividend. The ex-dividend date was Tuesday, August 13th. This represents a $1.44 dividend on an annualized basis and a yield of 3.40%. This is an increase from Cheesecake Factory’s previous quarterly dividend of $0.33. Cheesecake Factory’s dividend payout ratio is currently 59.26%.
A number of equities research analysts recently issued reports on the stock. BidaskClub upgraded shares of Cheesecake Factory from a “strong sell” rating to a “sell” rating in a report on Wednesday. Bank of America restated a “neutral” rating and issued a $46.00 target price (down from $51.00) on shares of Cheesecake Factory in a report on Thursday, August 1st. Maxim Group restated a “buy” rating and issued a $61.00 target price on shares of Cheesecake Factory in a report on Thursday, August 1st. Wedbush decreased their price objective on shares of Cheesecake Factory from $45.00 to $43.00 and set a “neutral” rating for the company in a research note on Thursday, August 1st. Finally, TheStreet downgraded shares of Cheesecake Factory from a “b” rating to a “c+” rating in a research note on Wednesday, May 29th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the stock. Cheesecake Factory presently has an average rating of “Hold” and a consensus price target of $49.58.
About Cheesecake Factory
The Cheesecake Factory Incorporated engages in the operation of restaurants. The company produces cheesecakes and other baked products for own restaurants and international licensees, as well as external foodservice operators, retailers, and distributors. As of April 16, 2019, it owned and operated 219 full-service casual-dining restaurants in the United States, including Puerto Rico and Canada comprising 202 restaurants under The Cheesecake Factory name; 14 restaurants under the Grand Lux Café name; and 2 restaurants under the RockSugar Southeast Asian Kitchen name, as well as 22 The Cheesecake Factory restaurants under licensing agreements internationally.
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