Rhumbline Advisers reduced its position in Cheesecake Factory Inc (NASDAQ:CAKE) by 9.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 88,599 shares of the restaurant operator’s stock after selling 9,335 shares during the period. Rhumbline Advisers owned about 0.19% of Cheesecake Factory worth $4,744,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of CAKE. Itau Unibanco Holding S.A. acquired a new position in Cheesecake Factory in the 2nd quarter worth about $156,000. NumerixS Investment Technologies Inc increased its position in Cheesecake Factory by 2,900.0% in the 2nd quarter. NumerixS Investment Technologies Inc now owns 3,000 shares of the restaurant operator’s stock worth $168,000 after purchasing an additional 2,900 shares during the last quarter. Advisors Asset Management Inc. increased its position in Cheesecake Factory by 452.7% in the 2nd quarter. Advisors Asset Management Inc. now owns 22,504 shares of the restaurant operator’s stock worth $202,000 after purchasing an additional 18,432 shares during the last quarter. Oppenheimer Asset Management Inc. acquired a new position in Cheesecake Factory in the 2nd quarter worth about $226,000. Finally, Perennial Advisors LLC increased its position in Cheesecake Factory by 35.1% in the 2nd quarter. Perennial Advisors LLC now owns 5,000 shares of the restaurant operator’s stock worth $275,000 after purchasing an additional 1,300 shares during the last quarter. 99.44% of the stock is currently owned by institutional investors.
Shares of CAKE stock opened at $45.89 on Friday. The company has a quick ratio of 0.33, a current ratio of 0.45 and a debt-to-equity ratio of 0.03. Cheesecake Factory Inc has a 12 month low of $43.26 and a 12 month high of $60.19. The company has a market capitalization of $2.11 billion, a price-to-earnings ratio of 19.72, a PEG ratio of 1.32 and a beta of 0.31.
Cheesecake Factory (NASDAQ:CAKE) last announced its quarterly earnings data on Tuesday, October 30th. The restaurant operator reported $0.62 EPS for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.04. Cheesecake Factory had a return on equity of 18.02% and a net margin of 6.02%. The company had revenue of $580.88 million during the quarter, compared to the consensus estimate of $585.44 million. During the same quarter last year, the company earned $0.56 EPS. The company’s quarterly revenue was up 4.6% on a year-over-year basis. On average, equities research analysts forecast that Cheesecake Factory Inc will post 2.44 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 27th. Shareholders of record on Wednesday, November 14th were given a $0.33 dividend. The ex-dividend date was Tuesday, November 13th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.88%. Cheesecake Factory’s dividend payout ratio is currently 50.77%.
In other Cheesecake Factory news, insider Cheryl Slomann sold 7,500 shares of the firm’s stock in a transaction that occurred on Tuesday, November 20th. The stock was sold at an average price of $49.21, for a total value of $369,075.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 8.80% of the stock is currently owned by company insiders.
CAKE has been the topic of several research reports. Barclays dropped their target price on Cheesecake Factory from $54.00 to $51.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 31st. UBS Group lowered Cheesecake Factory from a “buy” rating to a “neutral” rating in a report on Monday, October 15th. Loop Capital assumed coverage on Cheesecake Factory in a report on Wednesday, October 24th. They set a “hold” rating and a $55.00 price objective on the stock. BidaskClub lowered Cheesecake Factory from a “buy” rating to a “hold” rating in a report on Thursday, September 13th. Finally, Gordon Haskett assumed coverage on Cheesecake Factory in a report on Thursday, October 18th. They set a “hold” rating and a $53.00 price objective on the stock. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating and one has assigned a buy rating to the stock. Cheesecake Factory currently has a consensus rating of “Hold” and a consensus target price of $52.47.
Cheesecake Factory Profile
The Cheesecake Factory Incorporated operates restaurants in the United States. 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 August 21, 2018, it operated 215 company-owned restaurants, including 199 restaurants under The Cheesecake Factory brand; 14 restaurants under the Grand Lux Cafe brand; and 2 restaurants under the RockSugar Southeast Asian Kitchen brand, as well as 21 The Cheesecake Factory branded restaurants under licensing agreements internationally.
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