Franklin Resources Inc. Has $1.13 Million Stock Position in The Cheesecake Factory Incorporated $CAKE

Franklin Resources Inc. increased its position in shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE) by 289.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,004 shares of the restaurant operator’s stock after acquiring an additional 13,378 shares during the quarter. Franklin Resources Inc.’s holdings in Cheesecake Factory were worth $1,128,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in CAKE. Parkside Financial Bank & Trust raised its holdings in Cheesecake Factory by 39.2% during the 2nd quarter. Parkside Financial Bank & Trust now owns 632 shares of the restaurant operator’s stock worth $40,000 after purchasing an additional 178 shares during the last quarter. Atria Investments Inc raised its stake in shares of Cheesecake Factory by 3.9% during the second quarter. Atria Investments Inc now owns 9,261 shares of the restaurant operator’s stock worth $580,000 after buying an additional 349 shares during the last quarter. Ameritas Advisory Services LLC acquired a new position in Cheesecake Factory in the second quarter valued at approximately $28,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in Cheesecake Factory by 4.1% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 11,699 shares of the restaurant operator’s stock valued at $733,000 after buying an additional 462 shares during the period. Finally, Keybank National Association OH boosted its stake in Cheesecake Factory by 6.5% in the second quarter. Keybank National Association OH now owns 7,789 shares of the restaurant operator’s stock valued at $488,000 after acquiring an additional 478 shares during the last quarter. Institutional investors own 94.48% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on CAKE. Citigroup dropped their target price on shares of Cheesecake Factory from $68.00 to $65.00 and set a “buy” rating for the company in a research report on Wednesday, October 29th. Argus decreased their price objective on Cheesecake Factory from $72.00 to $55.00 and set a “buy” rating for the company in a research note on Friday, November 7th. Weiss Ratings reissued a “buy (b-)” rating on shares of Cheesecake Factory in a research note on Tuesday. Morgan Stanley set a $49.00 target price on Cheesecake Factory in a report on Wednesday, October 29th. Finally, Stephens lowered their price target on Cheesecake Factory from $70.00 to $64.00 and set an “overweight” rating for the company in a research note on Wednesday, October 29th. Ten equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat, Cheesecake Factory currently has a consensus rating of “Hold” and a consensus price target of $59.18.

Cheesecake Factory Trading Down 1.7%

NASDAQ CAKE opened at $46.98 on Friday. The Cheesecake Factory Incorporated has a one year low of $42.69 and a one year high of $69.70. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.55 and a quick ratio of 0.47. The firm has a market cap of $2.34 billion, a P/E ratio of 14.24, a P/E/G ratio of 1.36 and a beta of 0.96. The stock’s 50-day moving average is $50.28 and its 200-day moving average is $56.72.

Cheesecake Factory (NASDAQ:CAKE) last issued its quarterly earnings data on Tuesday, October 28th. The restaurant operator reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.08. The business had revenue of $907.23 million during the quarter, compared to analyst estimates of $912.95 million. Cheesecake Factory had a return on equity of 46.35% and a net margin of 4.33%.Cheesecake Factory’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.58 EPS. Sell-side analysts anticipate that The Cheesecake Factory Incorporated will post 3.71 earnings per share for the current fiscal year.

Cheesecake Factory Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 25th. Investors of record on Tuesday, November 11th were issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date was Monday, November 10th. Cheesecake Factory’s dividend payout ratio (DPR) is presently 32.73%.

Cheesecake Factory 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.