American International Group Inc. trimmed its stake in The Cheesecake Factory Incorporated (NASDAQ:CAKE – Free Report) by 1.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 26,020 shares of the restaurant operator’s stock after selling 403 shares during the quarter. American International Group Inc. owned approximately 0.05% of Cheesecake Factory worth $900,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in Cheesecake Factory by 2.0% in the first quarter. Vanguard Group Inc. now owns 5,387,902 shares of the restaurant operator’s stock valued at $214,385,000 after acquiring an additional 107,399 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its stake in Cheesecake Factory by 0.6% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,799,304 shares of the restaurant operator’s stock valued at $133,166,000 after acquiring an additional 21,505 shares during the last quarter. State Street Corp boosted its stake in Cheesecake Factory by 0.7% in the third quarter. State Street Corp now owns 1,751,453 shares of the restaurant operator’s stock valued at $51,283,000 after acquiring an additional 12,578 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Cheesecake Factory by 4.3% in the first quarter. Dimensional Fund Advisors LP now owns 1,044,691 shares of the restaurant operator’s stock valued at $41,565,000 after acquiring an additional 42,901 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in Cheesecake Factory by 3.7% in the first quarter. Geode Capital Management LLC now owns 931,554 shares of the restaurant operator’s stock valued at $32,651,000 after acquiring an additional 32,958 shares during the last quarter. 88.68% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of analysts recently commented on the stock. William Blair restated an “outperform” rating on shares of Cheesecake Factory in a research note on Thursday, November 2nd. StockNews.com assumed coverage on shares of Cheesecake Factory in a research note on Thursday, October 5th. They set a “hold” rating on the stock. TheStreet cut shares of Cheesecake Factory from a “b-” rating to a “c+” rating in a research note on Monday, October 30th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Cheesecake Factory in a research note on Thursday, October 19th. They set a “hold” rating and a $32.00 price target on the stock. Finally, Wedbush restated a “neutral” rating and set a $32.00 price target on shares of Cheesecake Factory in a research note on Thursday, November 2nd. Four investment analysts have rated the stock with a sell rating, twelve have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $33.93.
Cheesecake Factory Price Performance
Shares of NASDAQ:CAKE opened at $33.09 on Thursday. The company’s fifty day moving average price is $30.22 and its 200-day moving average price is $32.59. The firm has a market capitalization of $1.68 billion, a price-to-earnings ratio of 19.13, a PEG ratio of 0.62 and a beta of 1.46. The Cheesecake Factory Incorporated has a one year low of $28.58 and a one year high of $41.28. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.44 and a quick ratio of 0.35.
Cheesecake Factory (NASDAQ:CAKE – Get Free Report) last issued its earnings results on Wednesday, November 1st. The restaurant operator reported $0.39 EPS for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.03). The business had revenue of $830.20 million during the quarter, compared to analysts’ expectations of $842.63 million. Cheesecake Factory had a return on equity of 38.79% and a net margin of 2.47%. Cheesecake Factory’s revenue for the quarter was up 5.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.03) EPS. On average, equities research analysts anticipate that The Cheesecake Factory Incorporated will post 2.62 earnings per share for the current fiscal year.
Cheesecake Factory Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 28th. Shareholders of record on Wednesday, November 15th will be given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 3.26%. The ex-dividend date of this dividend is Tuesday, November 14th. Cheesecake Factory’s payout ratio is 62.43%.
About Cheesecake Factory
The Cheesecake Factory Incorporated engages in restaurant business. The company 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. It also operates restaurants in the United States and Canada under brands comprising The Cheesecake Factory, North Italia, and a collection of Fox Restaurant Concepts, as well as The Cheesecake Factory restaurants under licensing agreements internationally.
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