Duality Advisers LP Takes Position in The Cheesecake Factory Incorporated (NASDAQ:CAKE)

Posted by on May 8th, 2023

Duality Advisers LP purchased a new stake in shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE – Get Rating) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 14,091 shares of the restaurant operator’s stock, valued at approximately $447,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CAKE. Millennium Management LLC increased its holdings in Cheesecake Factory by 2,369.2% in the 2nd quarter. Millennium Management LLC now owns 905,116 shares of the restaurant operator’s stock worth $23,913,000 after acquiring an additional 868,460 shares in the last quarter. Rockefeller Capital Management L.P. increased its holdings in Cheesecake Factory by 52,812.3% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 656,642 shares of the restaurant operator’s stock worth $19,226,000 after acquiring an additional 655,401 shares in the last quarter. New York State Common Retirement Fund increased its holdings in Cheesecake Factory by 307.9% in the 4th quarter. New York State Common Retirement Fund now owns 696,968 shares of the restaurant operator’s stock worth $22,101,000 after acquiring an additional 526,109 shares in the last quarter. Comerica Bank grew its holdings in Cheesecake Factory by 742.6% during the 3rd quarter. Comerica Bank now owns 302,522 shares of the restaurant operator’s stock valued at $9,771,000 after buying an additional 266,620 shares in the last quarter. Finally, Weiss Multi Strategy Advisers LLC purchased a new stake in Cheesecake Factory during the 1st quarter valued at approximately $10,360,000. 88.67% of the stock is owned by hedge funds and other institutional investors.

Cheesecake Factory Stock Performance

Shares of Cheesecake Factory stock opened at $32.79 on Monday. The stock’s fifty day moving average price is $34.43 and its 200-day moving average price is $35.28. The Cheesecake Factory Incorporated has a 12 month low of $26.05 and a 12 month high of $41.28. The company has a current ratio of 0.53, a quick ratio of 0.44 and a debt-to-equity ratio of 1.60. The firm has a market cap of $1.69 billion, a P/E ratio of 39.51, a P/E/G ratio of 2.33 and a beta of 1.43.

Cheesecake Factory (NASDAQ:CAKE – Get Rating) last posted its earnings results on Wednesday, February 22nd. The restaurant operator reported $0.56 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.56. Cheesecake Factory had a return on equity of 22.89% and a net margin of 1.31%. The company had revenue of $892.80 million for the quarter, compared to analyst estimates of $902.64 million. During the same quarter in the previous year, the firm earned $0.49 earnings per share. The firm’s quarterly revenue was up 14.9% compared to the same quarter last year. On average, equities research analysts expect that The Cheesecake Factory Incorporated will post 2.81 earnings per share for the current fiscal year.

Cheesecake Factory Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 21st. Shareholders of record on Wednesday, March 8th were paid a $0.27 dividend. The ex-dividend date of this dividend was Tuesday, March 7th. This represents a $1.08 annualized dividend and a yield of 3.29%. Cheesecake Factory’s dividend payout ratio (DPR) is presently 130.12%.

Wall Street Analyst Weigh In

CAKE has been the subject of a number of research analyst reports. JPMorgan Chase & Co. increased their price objective on shares of Cheesecake Factory from $35.00 to $38.00 and gave the company a “neutral” rating in a report on Friday, March 3rd. Raymond James lowered shares of Cheesecake Factory from an “outperform” rating to a “market perform” rating in a report on Tuesday, January 24th. Morgan Stanley increased their price objective 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. Gordon Haskett downgraded Cheesecake Factory from a “buy” rating to a “hold” rating in a research report on Tuesday, January 17th. Finally, Barclays increased their target price on Cheesecake Factory from $28.00 to $30.00 and gave the company an “underweight” rating in a research report on Thursday, February 23rd. Four research analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $36.15.

Cheesecake Factory Company Profile

(Get Rating)

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.

Featured Stories

Want to see what other hedge funds are holding CAKE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Cheesecake Factory Incorporated (NASDAQ:CAKE – Get Rating).

Institutional Ownership by Quarter for Cheesecake Factory (NASDAQ:CAKE)

Receive News & Ratings for Cheesecake Factory Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cheesecake Factory and related companies with MarketBeat.com's FREE daily email newsletter.