Shell Asset Management Co. Holds Stake in The Cheesecake Factory Incorporated (CAKE)

Shell Asset Management Co. maintained its position in shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE) during the second quarter, Holdings Channel reports. The institutional investor owned 15,266 shares of the restaurant operator’s stock at the end of the second quarter. Shell Asset Management Co.’s holdings in The Cheesecake Factory were worth $768,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in CAKE. Waratah Capital Advisors Ltd. acquired a new position in shares of The Cheesecake Factory during the first quarter valued at approximately $4,628,000. Nordea Investment Management AB raised its stake in The Cheesecake Factory by 15.5% in the first quarter. Nordea Investment Management AB now owns 25,505 shares of the restaurant operator’s stock valued at $1,616,000 after buying an additional 3,419 shares in the last quarter. Hendershot Investments Inc. raised its stake in The Cheesecake Factory by 4.3% in the second quarter. Hendershot Investments Inc. now owns 69,805 shares of the restaurant operator’s stock valued at $3,511,000 after buying an additional 2,865 shares in the last quarter. Louisiana State Employees Retirement System raised its stake in The Cheesecake Factory by 2.8% in the first quarter. Louisiana State Employees Retirement System now owns 11,200 shares of the restaurant operator’s stock valued at $710,000 after buying an additional 300 shares in the last quarter. Finally, Marshall Wace North America L.P. purchased a new stake in The Cheesecake Factory during the first quarter valued at about $1,644,000. 96.40% of the stock is currently owned by institutional investors.

The Cheesecake Factory Incorporated (CAKE) opened at 44.94 on Friday. The Cheesecake Factory Incorporated has a 1-year low of $44.02 and a 1-year high of $67.14. The firm has a 50-day moving average of $48.76 and a 200-day moving average of $57.67. The stock has a market cap of $2.07 billion, a PE ratio of 15.72 and a beta of 0.31.

The Cheesecake Factory (NASDAQ:CAKE) last released its quarterly earnings data on Wednesday, August 2nd. The restaurant operator reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.02. The firm had revenue of $569.87 million for the quarter, compared to analysts’ expectations of $573.12 million. The Cheesecake Factory had a net margin of 6.10% and a return on equity of 22.92%. The company’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.78 earnings per share. Analysts expect that The Cheesecake Factory Incorporated will post $2.67 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 29th. Investors of record on Wednesday, August 16th will be given a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 2.58%. The ex-dividend date is Monday, August 14th. This is a boost from The Cheesecake Factory’s previous quarterly dividend of $0.24. The Cheesecake Factory’s payout ratio is currently 33.68%.

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A number of analysts have weighed in on the stock. Maxim Group upgraded shares of The Cheesecake Factory from a “hold” rating to a “buy” rating and set a $65.00 target price on the stock in a research report on Wednesday, June 14th. Wedbush reaffirmed a “buy” rating on shares of The Cheesecake Factory in a research note on Thursday, July 13th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $65.00 price target on shares of The Cheesecake Factory in a research note on Wednesday, July 26th. Morgan Stanley reissued an “equal weight” rating and set a $56.00 target price (down previously from $62.00) on shares of The Cheesecake Factory in a research note on Wednesday, June 14th. Finally, Barclays PLC lowered their target price on shares of The Cheesecake Factory from $56.00 to $53.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 19th. Three analysts have rated the stock with a sell rating, twelve have given a hold rating and five have given a buy rating to the company. The Cheesecake Factory currently has an average rating of “Hold” and an average price target of $54.78.

In related news, VP Debby R. Zurzolo sold 6,424 shares of the business’s stock in a transaction on Thursday, June 1st. The shares were sold at an average price of $59.09, for a total value of $379,594.16. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 8.50% of the company’s stock.

About The Cheesecake Factory

The Cheesecake Factory Incorporated is engaged in the restaurant and bakery business. As of March 2, 2017, the Company operated 208 Company-owned restaurants: 194 under The Cheesecake Factory mark, 13 under the Grand Lux Cafe mark and one under the Rock Sugar Pan Asian Kitchen mark. The Company’s segments include The Cheesecake Factory restaurants, and other.

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).

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

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