WINTON GROUP Ltd bought a new stake in shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE – Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 11,178 shares of the restaurant operator’s stock, valued at approximately $564,000.
Several other institutional investors have also added to or reduced their stakes in CAKE. Invesco Ltd. lifted its holdings in shares of Cheesecake Factory by 24.7% during the 3rd quarter. Invesco Ltd. now owns 2,057,118 shares of the restaurant operator’s stock valued at $112,401,000 after buying an additional 407,223 shares during the period. American Century Companies Inc. lifted its holdings in shares of Cheesecake Factory by 5.6% during the 3rd quarter. American Century Companies Inc. now owns 1,800,388 shares of the restaurant operator’s stock valued at $98,373,000 after buying an additional 96,074 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Cheesecake Factory by 2.4% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,207,196 shares of the restaurant operator’s stock valued at $65,965,000 after buying an additional 28,361 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Cheesecake Factory by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 1,152,174 shares of the restaurant operator’s stock valued at $58,170,000 after buying an additional 4,577 shares during the period. Finally, Voloridge Investment Management LLC lifted its holdings in shares of Cheesecake Factory by 54.0% during the 3rd quarter. Voloridge Investment Management LLC now owns 747,046 shares of the restaurant operator’s stock valued at $40,819,000 after buying an additional 262,081 shares during the period. 94.48% of the stock is currently owned by hedge funds and other institutional investors.
Insider Activity
In other news, Director Alexander L. Cappello sold 2,490 shares of Cheesecake Factory stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $64.90, for a total value of $161,601.00. Following the sale, the director directly owned 6,171 shares of the company’s stock, valued at approximately $400,497.90. The trade was a 28.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman David Overton sold 104,000 shares of Cheesecake Factory stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $61.02, for a total value of $6,346,080.00. Following the completion of the sale, the chairman directly owned 3,079,779 shares in the company, valued at $187,928,114.58. This trade represents a 3.27% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 8.00% of the company’s stock.
Cheesecake Factory Price Performance
Cheesecake Factory (NASDAQ:CAKE – Get Free Report) last posted its quarterly earnings results on Wednesday, April 29th. The restaurant operator reported $1.05 EPS for the quarter, beating analysts’ consensus estimates of $1.03 by $0.02. The business had revenue of $978.83 million for the quarter, compared to analysts’ expectations of $964.57 million. Cheesecake Factory had a return on equity of 43.74% and a net margin of 4.34%.The business’s quarterly revenue was up 5.6% on a year-over-year basis. During the same period last year, the firm earned $0.93 earnings per share. As a group, analysts forecast that The Cheesecake Factory Incorporated will post 4.01 EPS for the current fiscal year.
Cheesecake Factory Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Tuesday, May 26th. Stockholders of record on Wednesday, May 13th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend was Wednesday, May 13th. Cheesecake Factory’s payout ratio is 35.09%.
Analyst Ratings Changes
CAKE has been the topic of several research analyst reports. Mizuho set a $75.00 price target on Cheesecake Factory in a report on Thursday, February 19th. Wells Fargo & Company increased their price target on Cheesecake Factory from $60.00 to $65.00 and gave the company an “equal weight” rating in a report on Thursday, April 30th. Stephens increased their price target on Cheesecake Factory from $61.00 to $65.00 and gave the company an “equal weight” rating in a report on Thursday, April 30th. Weiss Ratings raised Cheesecake Factory from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, June 5th. Finally, Barclays increased their price target on Cheesecake Factory from $58.00 to $60.00 and gave the company an “underweight” rating in a report on Thursday, April 30th. Six equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $64.94.
View Our Latest Report on Cheesecake Factory
About Cheesecake Factory
The Cheesecake Factory Incorporated (NASDAQ:CAKE) is an American restaurant company and distributor renowned for its full-service casual-dining concept and specialty cheesecakes. Headquartered in Calabasas Hills, California, the company operates more than 200 restaurants under The Cheesecake Factory® brand across the United States, Puerto Rico and select international markets. In addition to sit-down dining, Cheesecake Factory franchised locations offer catering and take-out services, while a separate manufacturing arm supplies branded cheesecakes and desserts to supermarkets, hotels and other foodservice operators.
The origins of the brand trace back to a small cheesecake bakery founded in Detroit in the 1940s.
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