Allspring Global Investments Holdings LLC Buys New Stake in The Cheesecake Factory Incorporated (NASDAQ:CAKE)

Allspring Global Investments Holdings LLC purchased a new stake in The Cheesecake Factory Incorporated (NASDAQ:CAKE) in the 1st quarter, according to its most recent filing with the SEC. The institutional investor purchased 109,295 shares of the restaurant operator’s stock, valued at approximately $5,559,000. Allspring Global Investments Holdings LLC owned approximately 0.22% of Cheesecake Factory at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of Cheesecake Factory by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 5,443,458 shares of the restaurant operator’s stock worth $258,238,000 after buying an additional 21,096 shares during the period. Invesco Ltd. lifted its position in Cheesecake Factory by 12.4% during the 4th quarter. Invesco Ltd. now owns 1,412,483 shares of the restaurant operator’s stock worth $67,008,000 after acquiring an additional 155,614 shares in the last quarter. American Century Companies Inc. boosted its holdings in Cheesecake Factory by 15.8% in the 4th quarter. American Century Companies Inc. now owns 1,363,051 shares of the restaurant operator’s stock worth $64,663,000 after acquiring an additional 186,026 shares during the period. Wellington Management Group LLP purchased a new position in Cheesecake Factory in the 4th quarter worth approximately $56,288,000. Finally, Victory Capital Management Inc. grew its position in Cheesecake Factory by 166.9% in the fourth quarter. Victory Capital Management Inc. now owns 1,076,347 shares of the restaurant operator’s stock valued at $51,062,000 after acquiring an additional 673,076 shares in the last quarter. 94.48% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have issued reports on CAKE shares. Barclays dropped their price objective on Cheesecake Factory from $50.00 to $46.00 and set an “underweight” rating on the stock in a report on Tuesday, April 22nd. JPMorgan Chase & Co. lifted their price target on shares of Cheesecake Factory from $50.00 to $58.00 and gave the stock an “underweight” rating in a research note on Wednesday, June 25th. Wells Fargo & Company upped their price target on shares of Cheesecake Factory from $45.00 to $50.00 and gave the company an “equal weight” rating in a report on Thursday, May 1st. Argus set a $60.00 price objective on shares of Cheesecake Factory in a report on Wednesday, May 14th. Finally, Citigroup cut their target price on shares of Cheesecake Factory from $67.00 to $62.00 and set a “buy” rating on the stock in a research note on Tuesday, April 15th. Four research analysts have rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $54.63.

Cheesecake Factory Stock Down 0.1%

Shares of Cheesecake Factory stock opened at $65.21 on Friday. The Cheesecake Factory Incorporated has a 12-month low of $33.50 and a 12-month high of $65.99. The firm has a market capitalization of $3.23 billion, a PE ratio of 20.44, a price-to-earnings-growth ratio of 1.67 and a beta of 1.16. The company has a quick ratio of 0.43, a current ratio of 0.53 and a debt-to-equity ratio of 1.85. The stock’s fifty day moving average is $56.10 and its 200-day moving average is $52.16.

Cheesecake Factory (NASDAQ:CAKE) last posted its quarterly earnings data on Wednesday, April 30th. The restaurant operator reported $0.93 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.12. Cheesecake Factory had a net margin of 4.33% and a return on equity of 46.06%. The firm had revenue of $927.20 million during the quarter, compared to analyst estimates of $927.17 million. During the same quarter last year, the business posted $0.73 EPS. The company’s revenue was up 4.0% on a year-over-year basis. Equities analysts anticipate that The Cheesecake Factory Incorporated will post 3.71 earnings per share for the current year.

Cheesecake Factory Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 27th. Investors of record on Wednesday, May 14th were given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 1.66%. The ex-dividend date was Wednesday, May 14th. Cheesecake Factory’s payout ratio is presently 33.86%.

Insider Activity at Cheesecake Factory

In other Cheesecake Factory news, EVP Scarlett May sold 20,800 shares of the business’s stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $56.02, for a total value of $1,165,216.00. Following the completion of the sale, the executive vice president directly owned 22,872 shares of the company’s stock, valued at $1,281,289.44. The trade was a 47.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Matthew Eliot Clark sold 42,900 shares of the company’s stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $56.00, for a total transaction of $2,402,400.00. Following the completion of the sale, the chief financial officer owned 40,878 shares of the company’s stock, valued at $2,289,168. This represents a 51.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 133,000 shares of company stock valued at $7,456,992. 8.40% of the stock is currently owned by corporate insiders.

Cheesecake Factory Company Profile

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.