Allspring Global Investments Holdings LLC Has $2.58 Million Stock Holdings in The Cheesecake Factory Incorporated $CAKE

Allspring Global Investments Holdings LLC decreased its position in shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE) by 67.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 47,216 shares of the restaurant operator’s stock after selling 97,137 shares during the period. Allspring Global Investments Holdings LLC owned 0.09% of Cheesecake Factory worth $2,581,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of CAKE. Parkside Financial Bank & Trust grew its holdings in shares of Cheesecake Factory by 39.2% in 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. California State Teachers Retirement System raised its position in shares of Cheesecake Factory by 0.5% during the second quarter. California State Teachers Retirement System now owns 44,527 shares of the restaurant operator’s stock worth $2,790,000 after purchasing an additional 203 shares during the period. Russell Investments Group Ltd. boosted its holdings in shares of Cheesecake Factory by 1.0% in the second quarter. Russell Investments Group Ltd. now owns 24,755 shares of the restaurant operator’s stock valued at $1,551,000 after buying an additional 251 shares during the period. Northwestern Mutual Wealth Management Co. raised its stake in shares of Cheesecake Factory by 32.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,333 shares of the restaurant operator’s stock valued at $83,000 after purchasing an additional 323 shares during the period. Finally, Atria Investments Inc lifted its stake in Cheesecake Factory by 3.9% in the 2nd quarter. Atria Investments Inc now owns 9,261 shares of the restaurant operator’s stock valued at $580,000 after acquiring an additional 349 shares in the last quarter. 94.48% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CAKE has been the subject of several recent analyst reports. Argus cut their price objective on Cheesecake Factory from $72.00 to $55.00 and set a “buy” rating for the company in a report on Friday, November 7th. Robert W. Baird set a $57.00 target price on Cheesecake Factory in a research report on Wednesday, October 29th. Raymond James Financial reiterated an “outperform” rating and set a $60.00 price objective (down from $70.00) on shares of Cheesecake Factory in a research report on Wednesday, October 29th. Morgan Stanley set a $49.00 price target on Cheesecake Factory in a research note on Wednesday, October 29th. Finally, Bank of America dropped their price target on Cheesecake Factory from $61.00 to $56.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 29th. Ten investment 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 data from MarketBeat.com, Cheesecake Factory has a consensus rating of “Hold” and an average target price of $59.35.

Cheesecake Factory Trading Up 2.4%

Shares of Cheesecake Factory stock opened at $56.99 on Friday. The company’s 50-day moving average price is $48.89 and its 200-day moving average price is $55.88. The Cheesecake Factory Incorporated has a 12-month low of $42.69 and a 12-month high of $69.70. The company has a market cap of $2.84 billion, a price-to-earnings ratio of 17.27, a PEG ratio of 1.50 and a beta of 0.97. The company has a current ratio of 0.55, a quick ratio of 0.47 and a debt-to-equity ratio of 1.32.

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

Cheesecake Factory Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 25th. Shareholders of record on Tuesday, November 11th were paid a dividend of $0.27 per share. The ex-dividend date of this dividend was Monday, November 10th. This represents a $1.08 annualized dividend and a yield of 1.9%. Cheesecake Factory’s payout ratio is 32.73%.

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.