American Century Companies Inc. lifted its stake in The Cheesecake Factory Incorporated (NASDAQ:CAKE – Free Report) by 3.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 474,000 shares of the restaurant operator’s stock after purchasing an additional 16,935 shares during the quarter. American Century Companies Inc. owned about 0.92% of Cheesecake Factory worth $16,685,000 at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC raised its holdings in shares of Cheesecake Factory by 338.4% during the 1st quarter. Tower Research Capital LLC TRC now owns 982 shares of the restaurant operator’s stock worth $34,000 after acquiring an additional 758 shares during the period. Clearstead Advisors LLC acquired a new stake in shares of Cheesecake Factory during the 1st quarter worth approximately $56,000. Quantbot Technologies LP raised its position in shares of Cheesecake Factory by 356.8% during the 2nd quarter. Quantbot Technologies LP now owns 3,965 shares of the restaurant operator’s stock valued at $104,000 after buying an additional 3,097 shares during the period. Graham Capital Management L.P. acquired a new position in Cheesecake Factory in the first quarter valued at approximately $217,000. Finally, Bridgefront Capital LLC acquired a new stake in Cheesecake Factory during the first quarter worth $222,000. Hedge funds and other institutional investors own 88.68% of the company’s stock.
Cheesecake Factory Price Performance
Shares of NASDAQ CAKE opened at $31.85 on Friday. The stock’s 50-day simple moving average is $34.76 and its 200-day simple moving average is $34.57. The firm has a market capitalization of $1.63 billion, a PE ratio of 24.31, a price-to-earnings-growth ratio of 2.30 and a beta of 1.45. The Cheesecake Factory Incorporated has a fifty-two week low of $27.91 and a fifty-two week high of $41.28. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.38 and a current ratio of 0.48.
Cheesecake Factory Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Tuesday, August 29th. Investors of record on Wednesday, August 16th were given a $0.27 dividend. The ex-dividend date was Tuesday, August 15th. This represents a $1.08 dividend on an annualized basis and a yield of 3.39%. Cheesecake Factory’s dividend payout ratio (DPR) is presently 82.44%.
Analyst Upgrades and Downgrades
A number of research firms have recently weighed in on CAKE. Barclays increased their price target on Cheesecake Factory from $30.00 to $32.00 in a report on Thursday, May 11th. Stephens reiterated an “overweight” rating and issued a $40.00 target price on shares of Cheesecake Factory in a report on Thursday, August 3rd. StockNews.com initiated coverage on Cheesecake Factory in a research note on Sunday, August 20th. They set a “hold” rating on the stock. Wells Fargo & Company started coverage on Cheesecake Factory in a research note on Monday, June 26th. They issued an “equal weight” rating and a $33.00 price objective for the company. Finally, Piper Sandler started coverage on shares of Cheesecake Factory in a research note on Monday, July 17th. They set a “neutral” rating and a $36.00 target price on the stock. Four analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $36.25.
View Our Latest Research Report on CAKE
About Cheesecake Factory
The Cheesecake Factory Incorporated engages in restaurant business. The company operates two bakeries that produces cheesecakes and other baked products for its restaurants, international licensees, third-party bakery customers, external foodservice operators, retailers, and distributors. It also operates restaurants in the United States and Canada under brands comprising The Cheesecake Factory, North Italia, and a collection of Fox Restaurant Concepts, as well as The Cheesecake Factory restaurants under licensing agreements internationally.
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