Sawtooth Solutions LLC increased its holdings in shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE – Get Rating) by 11.1% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 10,026 shares of the restaurant operator's stock after acquiring an additional 1,005 shares during the period. Sawtooth Solutions LLC's holdings in Cheesecake Factory were worth $265,000 at the end of the most recent reporting period.
Other institutional investors have also made changes to their positions in the company. IndexIQ Advisors LLC acquired a new stake in shares of Cheesecake Factory during the 1st quarter valued at about $410,000. State of Alaska Department of Revenue boosted its position in shares of Cheesecake Factory by 9.7% during the 2nd quarter. State of Alaska Department of Revenue now owns 37,136 shares of the restaurant operator's stock valued at $981,000 after acquiring an additional 3,290 shares in the last quarter. Profund Advisors LLC boosted its position in shares of Cheesecake Factory by 24.7% during the 1st quarter. Profund Advisors LLC now owns 6,658 shares of the restaurant operator's stock valued at $265,000 after acquiring an additional 1,320 shares in the last quarter. Steward Partners Investment Advisory LLC boosted its position in shares of Cheesecake Factory by 12.9% during the 1st quarter. Steward Partners Investment Advisory LLC now owns 4,036 shares of the restaurant operator's stock valued at $161,000 after acquiring an additional 461 shares in the last quarter. Finally, Walleye Capital LLC acquired a new stake in shares of Cheesecake Factory during the 4th quarter valued at about $1,723,000. 84.62% of the stock is currently owned by institutional investors and hedge funds.
Get Cheesecake Factory alerts:Cheesecake Factory Trading Down 2.3 %
Shares of NASDAQ CAKE opened at $29.28 on Friday. The Cheesecake Factory Incorporated has a 1-year low of $26.05 and a 1-year high of $50.04. The company has a 50-day moving average of $31.15 and a two-hundred day moving average of $32.32. The company has a current ratio of 0.63, a quick ratio of 0.54 and a debt-to-equity ratio of 1.29. The company has a market cap of $1.53 billion, a PE ratio of 17.96, a P/E/G ratio of 1.73 and a beta of 1.40.
Cheesecake Factory (NASDAQ:CAKE – Get Rating) last issued its quarterly earnings results on Wednesday, July 27th. The restaurant operator reported $0.52 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.26). Cheesecake Factory had a return on equity of 31.69% and a net margin of 2.65%. The business had revenue of $832.60 million for the quarter, compared to analyst estimates of $836.64 million. During the same quarter in the prior year, the firm earned $0.80 EPS. The firm's quarterly revenue was up 8.3% compared to the same quarter last year. As a group, equities analysts expect that The Cheesecake Factory Incorporated will post 2.04 earnings per share for the current fiscal year.Cheesecake Factory Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 23rd. Stockholders of record on Wednesday, August 10th were given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 3.69%. The ex-dividend date of this dividend was Tuesday, August 9th. Cheesecake Factory's dividend payout ratio is 66.26%.
Analyst Upgrades and Downgrades
Several brokerages recently issued reports on CAKE. UBS Group cut their price target on shares of Cheesecake Factory from $42.00 to $30.00 and set a "neutral" rating for the company in a report on Tuesday, July 26th. Morgan Stanley cut their price target on shares of Cheesecake Factory from $37.00 to $26.00 and set an "underweight" rating for the company in a report on Monday, July 18th. Deutsche Bank Aktiengesellschaft cut their price target on shares of Cheesecake Factory from $35.00 to $31.00 in a report on Thursday, July 28th. Piper Sandler cut their price target 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, Stephens began coverage on shares of Cheesecake Factory in a report on Thursday, September 22nd. They set an "overweight" rating and a $38.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $40.00.
Cheesecake Factory Company Profile
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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.
Further Reading
- Get a free copy of the StockNews.com research report on Cheesecake Factory (CAKE)
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