Thrivent Financial for Lutherans Sells 84,960 Shares of The Cheesecake Factory Incorporated $CAKE

Thrivent Financial for Lutherans trimmed its stake in shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE) by 71.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 33,505 shares of the restaurant operator’s stock after selling 84,960 shares during the period. Thrivent Financial for Lutherans owned approximately 0.07% of Cheesecake Factory worth $2,099,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. AlphaQuest LLC bought a new position in Cheesecake Factory in the 1st quarter worth approximately $328,000. Smartleaf Asset Management LLC increased its stake in shares of Cheesecake Factory by 24.4% in the 1st quarter. Smartleaf Asset Management LLC now owns 3,268 shares of the restaurant operator’s stock valued at $162,000 after buying an additional 640 shares during the period. CreativeOne Wealth LLC bought a new stake in shares of Cheesecake Factory during the first quarter worth $313,000. Landscape Capital Management L.L.C. acquired a new position in shares of Cheesecake Factory during the first quarter valued at $2,781,000. Finally, Trexquant Investment LP boosted its holdings in Cheesecake Factory by 74.4% in the first quarter. Trexquant Investment LP now owns 245,413 shares of the restaurant operator’s stock valued at $11,942,000 after acquiring an additional 104,694 shares during the last quarter. Institutional investors and hedge funds own 94.48% of the company’s stock.

Cheesecake Factory Trading Down 2.2%

CAKE opened at $51.09 on Wednesday. The firm’s fifty day moving average is $49.23 and its two-hundred day moving average is $56.33. The firm has a market cap of $2.55 billion, a PE ratio of 15.48, a price-to-earnings-growth ratio of 1.49 and a beta of 0.96. The Cheesecake Factory Incorporated has a twelve month low of $42.69 and a twelve month high of $69.70. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.47 and a current ratio of 0.55.

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

Cheesecake Factory Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 25th. Stockholders of record on Tuesday, November 11th were issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 2.1%. The ex-dividend date was Monday, November 10th. Cheesecake Factory’s payout ratio is 32.73%.

Analyst Ratings Changes

CAKE has been the topic of a number of research reports. Bank of America cut their target price on shares of Cheesecake Factory from $61.00 to $56.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 29th. Oppenheimer set a $70.00 price objective on shares of Cheesecake Factory in a report on Wednesday, October 29th. Argus lowered their target price on shares of Cheesecake Factory from $72.00 to $55.00 and set a “buy” rating for the company in a report on Friday, November 7th. Mizuho set a $65.00 target price on shares of Cheesecake Factory and gave the company an “outperform” rating in a research report on Wednesday, October 29th. Finally, Jefferies Financial Group set a $70.00 price target on Cheesecake Factory and gave the company a “buy” rating in a research note on Wednesday, October 29th. Ten analysts have rated the stock with a Buy rating, five have issued a Hold rating and four have issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $59.18.

Cheesecake Factory Company Profile

The Cheesecake Factory Incorporated (NASDAQ:CAKE) is an American restaurant company and distributor renowned for its full-service casual-dining concept and specialty cheesecakes. Headquartered in Calabasas Hills, California, the company operates more than 200 restaurants under The Cheesecake Factory® brand across the United States, Puerto Rico and select international markets. In addition to sit-down dining, Cheesecake Factory franchised locations offer catering and take-out services, while a separate manufacturing arm supplies branded cheesecakes and desserts to supermarkets, hotels and other foodservice operators.

The origins of the brand trace back to a small cheesecake bakery founded in Detroit in the 1940s.