Man Group plc Makes New Investment in The Cheesecake Factory Incorporated $CAKE

Man Group plc bought a new position in The Cheesecake Factory Incorporated (NASDAQ:CAKE) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 23,436 shares of the restaurant operator’s stock, valued at approximately $1,864,000.

Other hedge funds also recently added to or reduced their stakes in the company. Oppenheimer Asset Management Inc. purchased a new position in shares of Cheesecake Factory during the second quarter valued at approximately $2,606,000. Fisher Asset Management LLC grew its stake in shares of Cheesecake Factory by 7.2% during the fourth quarter. Fisher Asset Management LLC now owns 503,184 shares of the restaurant operator’s stock valued at $25,401,000 after buying an additional 33,959 shares during the last quarter. Louisiana State Employees Retirement System purchased a new stake in shares of Cheesecake Factory in the first quarter worth approximately $1,111,000. Lotus Technology Management LP purchased a new stake in shares of Cheesecake Factory in the second quarter worth approximately $1,870,000. Finally, Deutsche Bank AG purchased a new stake in shares of Cheesecake Factory in the second quarter worth approximately $3,922,000. 94.48% of the stock is currently owned by institutional investors.

Insider Transactions at Cheesecake Factory

In related news, EVP Scarlett May sold 7,978 shares of the business’s stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $102.66, for a total value of $819,021.48. Following the completion of the transaction, the executive vice president owned 18,241 shares of the company’s stock, valued at $1,872,621.06. The trade was a 30.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, President David M. Gordon sold 31,950 shares of the company’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $110.03, for a total value of $3,515,458.50. Following the sale, the president owned 26,875 shares of the company’s stock, valued at approximately $2,957,056.25. This represents a 54.31% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 213,749 shares of company stock worth $22,301,899. Insiders own 8.00% of the company’s stock.

Cheesecake Factory Price Performance

Shares of CAKE stock opened at $108.36 on Wednesday. The Cheesecake Factory Incorporated has a twelve month low of $43.07 and a twelve month high of $118.46. The company has a current ratio of 0.59, a quick ratio of 0.52 and a debt-to-equity ratio of 1.08. The stock has a fifty day simple moving average of $95.37 and a two-hundred day simple moving average of $73.99. The stock has a market capitalization of $5.39 billion, a price-to-earnings ratio of 29.37, a P/E/G ratio of 1.85 and a beta of 1.01.

Cheesecake Factory (NASDAQ:CAKE) last announced its quarterly earnings results on Tuesday, July 28th. The restaurant operator reported $1.44 EPS for the quarter, beating the consensus estimate of $1.18 by $0.26. The firm had revenue of $1.03 billion for the quarter, compared to analyst estimates of $999.54 million. Cheesecake Factory had a return on equity of 43.97% and a net margin of 4.61%.The business’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.16 earnings per share. On average, analysts predict that The Cheesecake Factory Incorporated will post 4.52 EPS for the current fiscal year.

Cheesecake Factory Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 25th. Stockholders of record on Tuesday, August 11th were issued a $0.30 dividend. The ex-dividend date was Tuesday, August 11th. This represents a $1.20 annualized dividend and a dividend yield of 1.1%. Cheesecake Factory’s payout ratio is currently 32.52%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on CAKE shares. Jefferies Financial Group cut Cheesecake Factory from a “buy” rating to a “hold” rating and boosted their price objective for the company from $75.00 to $88.00 in a report on Wednesday, July 29th. Wells Fargo & Company increased their target price on Cheesecake Factory from $65.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 16th. JPMorgan Chase & Co. lifted their target price on Cheesecake Factory from $92.00 to $105.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 26th. Zacks Research raised shares of Cheesecake Factory from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 30th. Finally, Robert W. Baird upgraded shares of Cheesecake Factory to a “hold” rating in a report on Monday, August 24th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $83.47.

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.