MetLife Investment Management LLC increased its holdings in The Cheesecake Factory Incorporated (NASDAQ:CAKE – Get Rating) by 1.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,632 shares of the restaurant operator’s stock after purchasing an additional 309 shares during the quarter. MetLife Investment Management LLC’s holdings in Cheesecake Factory were worth $751,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Whittier Trust Co. raised its holdings in shares of Cheesecake Factory by 116.3% in the 3rd quarter. Whittier Trust Co. now owns 930 shares of the restaurant operator’s stock worth $27,000 after purchasing an additional 500 shares in the last quarter. Quadrant Capital Group LLC raised its holdings in shares of Cheesecake Factory by 463.1% in the 3rd quarter. Quadrant Capital Group LLC now owns 1,329 shares of the restaurant operator’s stock worth $39,000 after purchasing an additional 1,093 shares in the last quarter. Wipfli Financial Advisors LLC bought a new stake in shares of Cheesecake Factory in the 3rd quarter worth approximately $43,000. Quantbot Technologies LP raised its holdings in shares of Cheesecake Factory by 356.8% in the 2nd quarter. Quantbot Technologies LP now owns 3,965 shares of the restaurant operator’s stock worth $104,000 after purchasing an additional 3,097 shares in the last quarter. Finally, Prospera Financial Services Inc raised its holdings in shares of Cheesecake Factory by 10.5% during the second quarter. Prospera Financial Services Inc now owns 4,058 shares of the restaurant operator’s stock valued at $107,000 after acquiring an additional 387 shares during the period. 88.67% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of research firms have recently issued reports on CAKE. Morgan Stanley boosted their price target on shares of Cheesecake Factory from $26.00 to $31.00 and gave the company an “underweight” rating in a report on Wednesday, January 18th. Barclays boosted their price target on shares of Cheesecake Factory from $28.00 to $30.00 and gave the company an “underweight” rating in a report on Thursday, February 23rd. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Cheesecake Factory from $31.00 to $36.00 and gave the company a “hold” rating in a report on Wednesday, November 2nd. Wedbush boosted their price target on shares of Cheesecake Factory from $40.00 to $44.00 and gave the company a “neutral” rating in a report on Thursday, February 23rd. Finally, The Goldman Sachs Group downgraded shares of Cheesecake Factory from a “neutral” rating to a “sell” rating and lowered their price objective for the company from $35.00 to $29.00 in a research report on Monday, December 12th. Four equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $35.45.
Insider Buying and Selling
Cheesecake Factory Stock Performance
CAKE stock opened at $38.18 on Thursday. The company has a quick ratio of 0.42, a current ratio of 0.52 and a debt-to-equity ratio of 1.45. The company has a market capitalization of $1.96 billion, a price-to-earnings ratio of 46.00, a P/E/G ratio of 2.66 and a beta of 1.43. The Cheesecake Factory Incorporated has a 12 month low of $26.05 and a 12 month high of $41.28. The firm has a 50 day moving average of $37.23 and a two-hundred day moving average of $34.41.
Cheesecake Factory (NASDAQ:CAKE – Get Rating) last posted its quarterly earnings data on Wednesday, February 22nd. The restaurant operator reported $0.56 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.56. The business had revenue of $892.80 million during the quarter, compared to the consensus estimate of $902.64 million. Cheesecake Factory had a net margin of 1.31% and a return on equity of 21.98%. Cheesecake Factory’s quarterly revenue was up 14.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.49 EPS. As a group, equities analysts anticipate that The Cheesecake Factory Incorporated will post 2.83 EPS for the current fiscal year.
Cheesecake Factory Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 21st. Investors of record on Wednesday, March 8th will be issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 2.83%. The ex-dividend date of this dividend is Tuesday, March 7th. Cheesecake Factory’s dividend payout ratio is currently 130.12%.
Cheesecake Factory Company Profile
Cheesecake Factory, Inc engages in the operation of restaurant chains. It operates through The Cheesecake Factory, North Italia, Other FRC and Other segments. The Cheesecake Factory segment offers appetizers, pizza, seafood, steaks, chicken, burgers, small plates, pastas, salads, sandwiches and omelettes, and a selection of gluten-free items.
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