ING Groep NV Invests $273,000 in The Cheesecake Factory Incorporated (CAKE)

ING Groep NV bought a new stake in shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE) during the second quarter, Holdings Channel reports. The firm bought 5,426 shares of the restaurant operator’s stock, valued at approximately $273,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank raised its position in The Cheesecake Factory by 32.2% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,621 shares of the restaurant operator’s stock valued at $103,000 after buying an additional 395 shares during the last quarter. Parallel Advisors LLC raised its position in The Cheesecake Factory by 13.5% in the first quarter. Parallel Advisors LLC now owns 1,974 shares of the restaurant operator’s stock valued at $132,000 after buying an additional 235 shares during the last quarter. TrimTabs Asset Management LLC raised its position in The Cheesecake Factory by 89.0% in the first quarter. TrimTabs Asset Management LLC now owns 2,056 shares of the restaurant operator’s stock valued at $130,000 after buying an additional 968 shares during the last quarter. Tyers Asset Management LLC raised its position in The Cheesecake Factory by 1.1% in the first quarter. Tyers Asset Management LLC now owns 2,112 shares of the restaurant operator’s stock valued at $134,000 after buying an additional 22 shares during the last quarter. Finally, Flinton Capital Management LLC raised its position in The Cheesecake Factory by 1.1% in the first quarter. Flinton Capital Management LLC now owns 2,688 shares of the restaurant operator’s stock valued at $170,000 after buying an additional 28 shares during the last quarter. Institutional investors and hedge funds own 96.40% of the company’s stock.

The Cheesecake Factory Incorporated (CAKE) traded down 0.76% during midday trading on Friday, hitting $44.60. 520,205 shares of the company were exchanged. The firm has a market capitalization of $2.06 billion, a PE ratio of 15.60 and a beta of 0.31. The stock has a 50 day moving average of $48.76 and a 200 day moving average of $57.67. The Cheesecake Factory Incorporated has a 1-year low of $44.02 and a 1-year high of $67.14.

The Cheesecake Factory (NASDAQ:CAKE) last issued its earnings results on Wednesday, August 2nd. The restaurant operator reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.02. The business had revenue of $569.87 million during 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 business’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.78 earnings per share. On average, equities analysts predict that The Cheesecake Factory Incorporated will post $2.67 earnings per share for the current fiscal year.

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

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Several research firms recently issued reports on CAKE. Instinet restated a “neutral” rating and issued a $44.00 target price (down previously from $50.00) on shares of The Cheesecake Factory in a report on Thursday, August 3rd. Maxim Group restated a “buy” rating and issued a $57.00 target price (down previously from $65.00) on shares of The Cheesecake Factory in a report on Wednesday. Barclays PLC restated an “equal weight” rating and issued a $48.00 target price (down previously from $53.00) on shares of The Cheesecake Factory in a report on Wednesday. Stephens restated an “equal weight” rating and issued a $48.00 target price (down previously from $55.00) on shares of The Cheesecake Factory in a report on Wednesday. Finally, Nomura dropped their target price on shares of The Cheesecake Factory from $50.00 to $44.00 and set a “neutral” rating on the stock in a report on Thursday, August 3rd. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $54.78.

In other The Cheesecake Factory news, VP Debby R. Zurzolo sold 6,424 shares of The Cheesecake Factory stock in a transaction dated 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 Securities & Exchange Commission, which can be accessed through the SEC website. 8.50% of the stock is currently owned by insiders.

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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