Landscape Capital Management L.L.C. acquired a new position in shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE – Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 21,176 shares of the restaurant operator’s stock, valued at approximately $1,684,000.
A number of other institutional investors have also made changes to their positions in CAKE. Oppenheimer Asset Management Inc. acquired a new position in Cheesecake Factory in the second quarter valued at about $2,606,000. Fisher Asset Management LLC grew its position in shares of Cheesecake Factory by 7.2% during the 4th quarter. Fisher Asset Management LLC now owns 503,184 shares of the restaurant operator’s stock worth $25,401,000 after buying an additional 33,959 shares during the period. Louisiana State Employees Retirement System acquired a new position in shares of Cheesecake Factory during the 1st quarter worth about $1,111,000. California State Teachers Retirement System grew its position in shares of Cheesecake Factory by 24.9% during the 1st quarter. California State Teachers Retirement System now owns 55,576 shares of the restaurant operator’s stock worth $3,043,000 after buying an additional 11,088 shares during the period. Finally, Intech Investment Management LLC increased its stake in shares of Cheesecake Factory by 127.7% in the 4th quarter. Intech Investment Management LLC now owns 60,513 shares of the restaurant operator’s stock valued at $3,055,000 after acquiring an additional 33,936 shares during the last quarter. 94.48% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of analysts recently weighed in on the stock. UBS Group increased their price target on shares of Cheesecake Factory from $53.00 to $60.00 and gave the company a “sell” rating in a research report on Thursday, July 23rd. Oppenheimer boosted their price objective on shares of Cheesecake Factory from $91.00 to $101.00 and gave the company an “outperform” rating in a report on Wednesday, July 29th. Jefferies Financial Group downgraded shares of Cheesecake Factory from a “buy” rating to a “hold” rating and upped their target price for the company from $75.00 to $88.00 in a research note on Wednesday, July 29th. Argus upped their target price on shares of Cheesecake Factory from $72.00 to $110.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Finally, Citigroup increased their target price on shares of Cheesecake Factory from $76.00 to $90.00 and gave the stock a “buy” rating in a report on Friday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, ten have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $81.00.
Insider Buying and Selling at Cheesecake Factory
In other news, President David M. Gordon sold 31,950 shares of the company’s stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $110.03, for a total value of $3,515,458.50. Following the completion of the transaction, the president owned 26,875 shares in the company, valued at $2,957,056.25. This represents a 54.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Scarlett May sold 7,978 shares of the company’s stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $102.66, for a total transaction of $819,021.48. Following the completion of the transaction, the executive vice president owned 18,241 shares of the company’s stock, valued at $1,872,621.06. This trade represents a 30.43% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 216,239 shares of company stock worth $22,463,500 in the last quarter. Company insiders own 8.00% of the company’s stock.
Cheesecake Factory Stock Up 6.4%
NASDAQ:CAKE opened at $113.33 on Friday. The Cheesecake Factory Incorporated has a 1 year low of $43.07 and a 1 year high of $118.46. The stock has a 50-day moving average price of $90.32 and a two-hundred day moving average price of $71.44. The stock has a market cap of $5.64 billion, a price-to-earnings ratio of 30.71, a PEG ratio of 2.03 and a beta of 1.00. The company has a current ratio of 0.59, a quick ratio of 0.52 and a debt-to-equity ratio of 1.08.
Cheesecake Factory (NASDAQ:CAKE – Get Free Report) last released its quarterly earnings results on Tuesday, July 28th. The restaurant operator reported $1.44 EPS for the quarter, topping analysts’ consensus estimates of $1.18 by $0.26. The company had revenue of $1.03 billion for the quarter, compared to analyst estimates of $999.54 million. Cheesecake Factory had a return on equity of 43.97% and a net margin of 4.61%.Cheesecake Factory’s revenue was up 7.7% compared to the same quarter last year. During the same quarter last year, the firm posted $1.16 earnings per share. As a group, equities analysts expect that The Cheesecake Factory Incorporated will post 4.47 earnings per share for the current year.
Cheesecake Factory Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 25th. Investors of record on Tuesday, August 11th will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Tuesday, August 11th. Cheesecake Factory’s dividend payout ratio is presently 32.52%.
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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