Northern Trust Corp Trims Stock Holdings in The Cheesecake Factory Incorporated $CAKE

Northern Trust Corp decreased its holdings in The Cheesecake Factory Incorporated (NASDAQ:CAKE) by 0.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 534,150 shares of the restaurant operator’s stock after selling 4,135 shares during the period. Northern Trust Corp owned 1.08% of Cheesecake Factory worth $25,992,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Lido Advisors LLC grew its stake in Cheesecake Factory by 2.0% during the fourth quarter. Lido Advisors LLC now owns 10,805 shares of the restaurant operator’s stock valued at $513,000 after acquiring an additional 215 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Cheesecake Factory by 2.0% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,121 shares of the restaurant operator’s stock valued at $638,000 after acquiring an additional 260 shares in the last quarter. Bridges Investment Management Inc. grew its stake in Cheesecake Factory by 4.0% during the first quarter. Bridges Investment Management Inc. now owns 7,677 shares of the restaurant operator’s stock valued at $374,000 after acquiring an additional 292 shares in the last quarter. SBI Securities Co. Ltd. grew its stake in Cheesecake Factory by 38.5% during the first quarter. SBI Securities Co. Ltd. now owns 1,244 shares of the restaurant operator’s stock valued at $61,000 after acquiring an additional 346 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its stake in Cheesecake Factory by 5.8% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 7,049 shares of the restaurant operator’s stock valued at $334,000 after acquiring an additional 386 shares in the last quarter. Hedge funds and other institutional investors own 94.48% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Cheesecake Factory from $50.00 to $58.00 and gave the company an “underweight” rating in a research note on Wednesday, June 25th. Argus set a $60.00 price objective on shares of Cheesecake Factory in a research note on Wednesday, May 14th. Robert W. Baird set a $64.00 price objective on shares of Cheesecake Factory and gave the company a “neutral” rating in a research note on Wednesday, July 30th. Oppenheimer lifted their target price on shares of Cheesecake Factory from $65.00 to $75.00 and gave the company an “outperform” rating in a research report on Friday, July 11th. Finally, Wells Fargo & Company lifted their target price on shares of Cheesecake Factory from $60.00 to $65.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 30th. Seven investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $61.94.

Cheesecake Factory Trading Down 0.9%

Shares of Cheesecake Factory stock opened at $61.46 on Monday. The Cheesecake Factory Incorporated has a 1 year low of $35.40 and a 1 year high of $69.70. The firm has a market cap of $3.06 billion, a PE ratio of 18.91, a PEG ratio of 1.46 and a beta of 1.10. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.51 and a quick ratio of 0.42. The company has a 50 day simple moving average of $63.09 and a two-hundred day simple moving average of $55.65.

Cheesecake Factory (NASDAQ:CAKE) last announced its quarterly earnings data on Tuesday, July 29th. The restaurant operator reported $1.16 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.10. The firm had revenue of $955.83 million during the quarter, compared to analyst estimates of $945.82 million. Cheesecake Factory had a net margin of 4.33% and a return on equity of 45.92%. The business’s quarterly revenue was up 5.7% on a year-over-year basis. During the same period in the previous year, the business posted $1.09 EPS. Analysts expect that The Cheesecake Factory Incorporated will post 3.71 earnings per share for the current fiscal year.

Cheesecake Factory Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 26th. Stockholders of record on Tuesday, August 12th were issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date was Tuesday, August 12th. Cheesecake Factory’s payout ratio is presently 33.23%.

Insider Transactions at Cheesecake Factory

In other news, President David M. Gordon sold 43,335 shares of the business’s stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $63.06, for a total value of $2,732,705.10. Following the completion of the sale, the president directly owned 24,532 shares in the company, valued at approximately $1,546,987.92. The trade was a 63.85% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Alexander L. Cappello sold 12,388 shares of the business’s stock in a transaction that occurred on Thursday, July 31st. The stock was sold at an average price of $65.88, for a total transaction of $816,121.44. Following the completion of the sale, the director owned 6,806 shares of the company’s stock, valued at approximately $448,379.28. The trade was a 64.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 74,523 shares of company stock worth $4,654,643. 8.10% of the stock is currently owned by insiders.

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.