DekaBank Deutsche Girozentrale Sells 1,112 Shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE)

DekaBank Deutsche Girozentrale reduced its holdings in The Cheesecake Factory Incorporated (NASDAQ:CAKE) by 48.3% in the 4th quarter, Holdings Channel reports. The fund owned 1,192 shares of the restaurant operator’s stock after selling 1,112 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Cheesecake Factory were worth $42,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Schonfeld Strategic Advisors LLC grew its holdings in shares of Cheesecake Factory by 0.9% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 33,188 shares of the restaurant operator’s stock worth $1,052,000 after buying an additional 291 shares in the last quarter. American International Group Inc. grew its holdings in shares of Cheesecake Factory by 1.2% during the second quarter. American International Group Inc. now owns 26,913 shares of the restaurant operator’s stock worth $711,000 after buying an additional 328 shares in the last quarter. Swiss National Bank grew its holdings in shares of Cheesecake Factory by 0.4% during the third quarter. Swiss National Bank now owns 107,200 shares of the restaurant operator’s stock worth $3,248,000 after buying an additional 400 shares in the last quarter. Simplicity Solutions LLC grew its holdings in shares of Cheesecake Factory by 3.4% during the third quarter. Simplicity Solutions LLC now owns 13,081 shares of the restaurant operator’s stock worth $396,000 after buying an additional 436 shares in the last quarter. Finally, HighTower Advisors LLC grew its holdings in shares of Cheesecake Factory by 1.5% during the first quarter. HighTower Advisors LLC now owns 33,724 shares of the restaurant operator’s stock worth $1,177,000 after buying an additional 486 shares in the last quarter. 94.48% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

CAKE has been the subject of a number of research reports. JPMorgan Chase & Co. downgraded Cheesecake Factory from a “neutral” rating to an “underweight” rating and set a $33.00 price objective for the company. in a report on Tuesday, January 23rd. Oppenheimer reiterated a “market perform” rating on shares of Cheesecake Factory in a report on Thursday, February 22nd. Piper Sandler raised their price target on Cheesecake Factory from $33.00 to $37.00 and gave the company a “neutral” rating in a research note on Thursday, February 22nd. Stephens restated an “overweight” rating and issued a $44.00 price target on shares of Cheesecake Factory in a research note on Friday, April 12th. Finally, Wedbush restated an “outperform” rating and issued a $40.00 price target on shares of Cheesecake Factory in a research note on Wednesday, April 10th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $35.64.

Cheesecake Factory Stock Performance

CAKE opened at $33.48 on Thursday. The stock has a market cap of $1.71 billion, a price-to-earnings ratio of 16.25, a PEG ratio of 1.07 and a beta of 1.48. The business has a 50 day moving average of $35.32 and a 200-day moving average of $33.51. The company has a quick ratio of 0.37, a current ratio of 0.46 and a debt-to-equity ratio of 1.48. The Cheesecake Factory Incorporated has a 12-month low of $28.58 and a 12-month high of $38.19.

Cheesecake Factory (NASDAQ:CAKE) last released its quarterly earnings results on Wednesday, February 21st. The restaurant operator reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.07. The business had revenue of $877.00 million during the quarter, compared to analysts’ expectations of $876.17 million. Cheesecake Factory had a return on equity of 41.66% and a net margin of 2.95%. The firm’s revenue for the quarter was down 1.8% compared to the same quarter last year. During the same period last year, the firm posted $0.56 EPS. On average, equities research analysts expect that The Cheesecake Factory Incorporated will post 3.07 earnings per share for the current year.

Cheesecake Factory Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 19th. Investors of record on Wednesday, March 6th were issued a dividend of $0.27 per share. The ex-dividend date of this dividend was Tuesday, March 5th. This represents a $1.08 annualized dividend and a yield of 3.23%. Cheesecake Factory’s payout ratio is currently 52.43%.

About Cheesecake Factory

The Cheesecake Factory Incorporated operates and licenses restaurants in the United States and Canada. The company operates bakeries that produce cheesecakes and other baked products for its restaurants, international licensees, third-party bakery customers, external foodservice operators, retailers, and distributors.