Osaic Holdings Inc. Has $1.79 Million Position in The Cheesecake Factory Incorporated $CAKE

Osaic Holdings Inc. raised its holdings in The Cheesecake Factory Incorporated (NASDAQ:CAKE) by 1,041.1% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 28,515 shares of the restaurant operator’s stock after acquiring an additional 26,016 shares during the quarter. Osaic Holdings Inc. owned about 0.06% of Cheesecake Factory worth $1,786,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Maverick Capital Ltd. raised its stake in shares of Cheesecake Factory by 217.4% in the 1st quarter. Maverick Capital Ltd. now owns 27,894 shares of the restaurant operator’s stock valued at $1,357,000 after acquiring an additional 19,105 shares in the last quarter. Redhawk Wealth Advisors Inc. lifted its position in Cheesecake Factory by 295.7% during the 2nd quarter. Redhawk Wealth Advisors Inc. now owns 29,003 shares of the restaurant operator’s stock worth $1,817,000 after acquiring an additional 21,673 shares during the last quarter. White Wing Wealth Management acquired a new position in shares of Cheesecake Factory during the 2nd quarter worth about $334,000. Nomura Holdings Inc. bought a new position in Cheesecake Factory in the 1st quarter worth approximately $2,368,000. Finally, Bosun Asset Management LLC acquired a new position in shares of Cheesecake Factory during the first quarter worth approximately $318,000. Institutional investors own 94.48% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on CAKE. Stephens reduced their price objective on Cheesecake Factory from $70.00 to $64.00 and set an “overweight” rating for the company in a research report on Wednesday, October 29th. Mizuho set a $65.00 price objective on shares of Cheesecake Factory and gave the stock an “outperform” rating in a report on Wednesday, October 29th. Jefferies Financial Group set a $70.00 target price on Cheesecake Factory and gave the stock a “buy” rating in a research report on Wednesday, October 29th. Oppenheimer set a $70.00 price target on Cheesecake Factory in a report on Wednesday, October 29th. Finally, Raymond James Financial restated an “outperform” rating and issued a $60.00 target price (down from $70.00) on shares of Cheesecake Factory in a research note on Wednesday, October 29th. Ten research analysts have rated the stock with a Buy rating, five have issued a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $59.18.

Cheesecake Factory Price Performance

Cheesecake Factory stock opened at $50.75 on Tuesday. The business has a 50 day simple moving average of $49.01 and a 200 day simple moving average of $56.14. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.55 and a quick ratio of 0.47. The company has a market capitalization of $2.53 billion, a PE ratio of 15.38, a price-to-earnings-growth ratio of 1.50 and a beta of 0.96. The Cheesecake Factory Incorporated has a one year low of $42.69 and a one year high of $69.70.

Cheesecake Factory (NASDAQ:CAKE) last announced its quarterly earnings results on Tuesday, October 28th. The restaurant operator reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.08. The firm had revenue of $907.23 million for the quarter, compared to analysts’ expectations of $912.95 million. Cheesecake Factory had a return on equity of 46.35% and a net margin of 4.33%.The business’s revenue was up 4.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.58 earnings per share. On average, sell-side analysts forecast that The Cheesecake Factory Incorporated will post 3.71 EPS for the current fiscal year.

Cheesecake Factory Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 25th. Investors of record on Tuesday, November 11th were issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend was Monday, November 10th. Cheesecake Factory’s dividend payout ratio (DPR) is currently 32.73%.

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.