Verition Fund Management LLC Grows Stock Holdings in The Cheesecake Factory Incorporated (NASDAQ:CAKE)

Verition Fund Management LLC boosted its position in The Cheesecake Factory Incorporated (NASDAQ:CAKEGet Rating) by 212.0% in the 1st quarter, Holdings Channel reports. The fund owned 25,777 shares of the restaurant operator’s stock after purchasing an additional 17,514 shares during the period. Verition Fund Management LLC’s holdings in Cheesecake Factory were worth $1,026,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Tcwp LLC purchased a new stake in Cheesecake Factory in the 1st quarter worth approximately $43,000. Lindbrook Capital LLC grew its stake in shares of Cheesecake Factory by 996.6% during the 1st quarter. Lindbrook Capital LLC now owns 2,599 shares of the restaurant operator’s stock valued at $103,000 after buying an additional 2,362 shares during the period. Prospera Financial Services Inc purchased a new stake in shares of Cheesecake Factory during the 1st quarter valued at $146,000. Steward Partners Investment Advisory LLC grew its stake 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 buying an additional 461 shares during the period. Finally, Graham Capital Management L.P. purchased a new stake in shares of Cheesecake Factory during the 1st quarter valued at $217,000. 84.62% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Citigroup boosted their price objective on shares of Cheesecake Factory from $39.00 to $40.00 in a research note on Thursday, July 28th. UBS Group lowered their price objective on shares of Cheesecake Factory from $42.00 to $30.00 and set a “neutral” rating for the company in a research note on Tuesday, July 26th. Piper Sandler reduced their target price on shares of Cheesecake Factory from $38.00 to $30.00 and set a “neutral” rating on the stock in a report on Monday, July 11th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Cheesecake Factory from $35.00 to $31.00 in a report on Thursday, July 28th. Finally, Barclays reduced their target price on shares of Cheesecake Factory from $32.00 to $28.00 and set an “underweight” rating on the stock in a report on Thursday, July 28th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $42.83.

Cheesecake Factory Stock Performance

Shares of CAKE stock opened at $31.75 on Wednesday. The Cheesecake Factory Incorporated has a 12 month low of $26.05 and a 12 month high of $51.19. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.63 and a quick ratio of 0.54. The firm has a market capitalization of $1.66 billion, a P/E ratio of 19.48, a P/E/G ratio of 1.88 and a beta of 1.40. The company’s fifty day moving average price is $30.88 and its two-hundred day moving average price is $32.62.

Cheesecake Factory (NASDAQ:CAKEGet Rating) last issued its quarterly earnings data on Wednesday, July 27th. The restaurant operator reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.27). Cheesecake Factory had a return on equity of 31.69% and a net margin of 2.65%. The firm had revenue of $832.60 million during 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 business’s quarterly revenue was up 8.3% compared to the same quarter last year. On average, research analysts anticipate that The Cheesecake Factory Incorporated will post 2.04 earnings per share for the current fiscal year.

Cheesecake Factory Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 23rd. Stockholders of record on Wednesday, August 10th were paid a $0.27 dividend. The ex-dividend date of this dividend was Tuesday, August 9th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 3.40%. Cheesecake Factory’s dividend payout ratio (DPR) is presently 66.26%.

About Cheesecake Factory

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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.

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Institutional Ownership by Quarter for Cheesecake Factory (NASDAQ:CAKE)

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