Nordea Investment Management AB Purchases 14,497 Shares of The Cheesecake Factory Incorporated (CAKE)

Nordea Investment Management AB grew its position in shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE) by 39.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 51,303 shares of the restaurant operator’s stock after purchasing an additional 14,497 shares during the quarter. Nordea Investment Management AB owned approximately 0.11% of The Cheesecake Factory worth $2,161,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Tdam USA Inc. bought a new position in The Cheesecake Factory during the 3rd quarter worth approximately $1,155,000. TD Asset Management Inc. grew its position in The Cheesecake Factory by 1.5% during the 3rd quarter. TD Asset Management Inc. now owns 124,952 shares of the restaurant operator’s stock worth $5,263,000 after acquiring an additional 1,900 shares during the last quarter. American International Group Inc. grew its position in The Cheesecake Factory by 1.2% during the 3rd quarter. American International Group Inc. now owns 119,544 shares of the restaurant operator’s stock worth $5,035,000 after acquiring an additional 1,440 shares during the last quarter. ARGA Investment Management LP bought a new position in The Cheesecake Factory during the 3rd quarter worth approximately $872,000. Finally, Systematic Financial Management LP grew its position in The Cheesecake Factory by 4.0% during the 3rd quarter. Systematic Financial Management LP now owns 35,760 shares of the restaurant operator’s stock worth $1,506,000 after acquiring an additional 1,360 shares during the last quarter. Hedge funds and other institutional investors own 97.55% of the company’s stock.

Several research firms recently issued reports on CAKE. Robert W. Baird restated a “hold” rating and set a $46.00 price target on shares of The Cheesecake Factory in a research report on Friday, November 3rd. Barclays reduced their price target on The Cheesecake Factory from $46.00 to $43.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 2nd. Morgan Stanley reduced their price target on The Cheesecake Factory from $48.00 to $44.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 2nd. Nomura reduced their price target on The Cheesecake Factory from $43.00 to $40.00 and set a “neutral” rating on the stock in a research report on Thursday, November 2nd. Finally, Zacks Investment Research upgraded The Cheesecake Factory from a “sell” rating to a “hold” rating in a research report on Thursday, November 2nd. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $48.00.

Shares of The Cheesecake Factory Incorporated (NASDAQ CAKE) opened at $48.26 on Thursday. The firm has a market capitalization of $2,271.41, a P/E ratio of 18.17, a PEG ratio of 1.32 and a beta of 0.33. The Cheesecake Factory Incorporated has a 1 year low of $38.34 and a 1 year high of $67.14. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.51 and a quick ratio of 0.37.

The Cheesecake Factory (NASDAQ:CAKE) last issued its quarterly earnings data on Wednesday, November 1st. The restaurant operator reported $0.56 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.60 by ($0.04). The business had revenue of $555.40 million during the quarter, compared to the consensus estimate of $566.09 million. The Cheesecake Factory had a return on equity of 21.65% and a net margin of 5.76%. The Cheesecake Factory’s quarterly revenue was down .8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.70 earnings per share. equities research analysts anticipate that The Cheesecake Factory Incorporated will post 2.6 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 28th. Stockholders of record on Wednesday, November 15th were given a $0.29 dividend. The ex-dividend date of this dividend was Tuesday, November 14th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 2.40%. The Cheesecake Factory’s dividend payout ratio is currently 42.80%.

In other news, Director Herbert Simon bought 25,000 shares of the stock in a transaction dated Monday, November 6th. The stock was bought at an average price of $43.50 per share, for a total transaction of $1,087,500.00. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Debby R. Zurzolo sold 2,306 shares of the firm’s stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $44.75, for a total value of $103,193.50. The disclosure for this sale can be found here. 8.40% of the stock is currently owned by company insiders.

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The Cheesecake Factory Company Profile

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.

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

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