Arizona State Retirement System grew its position in shares of Cheesecake Factory Inc (NASDAQ:CAKE) by 0.8% in the second quarter, according to its most recent filing with the SEC. The fund owned 30,187 shares of the restaurant operator’s stock after acquiring an additional 238 shares during the quarter. Arizona State Retirement System owned about 0.07% of Cheesecake Factory worth $1,320,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Advisory Services Network LLC raised its holdings in Cheesecake Factory by 379.3% during the 1st quarter. Advisory Services Network LLC now owns 647 shares of the restaurant operator’s stock valued at $32,000 after buying an additional 512 shares during the period. Quadrant Capital Group LLC raised its holdings in Cheesecake Factory by 1,134.1% during the 1st quarter. Quadrant Capital Group LLC now owns 1,012 shares of the restaurant operator’s stock valued at $49,000 after buying an additional 930 shares during the period. Dupont Capital Management Corp raised its holdings in Cheesecake Factory by 31.5% during the 1st quarter. Dupont Capital Management Corp now owns 4,030 shares of the restaurant operator’s stock valued at $197,000 after buying an additional 966 shares during the period. WINTON GROUP Ltd purchased a new stake in Cheesecake Factory during the 2nd quarter valued at $219,000. Finally, Oppenheimer & Co. Inc. purchased a new stake in Cheesecake Factory during the 1st quarter valued at $225,000. Hedge funds and other institutional investors own 98.26% of the company’s stock.
CAKE has been the topic of several recent research reports. BidaskClub lowered Cheesecake Factory from a “sell” rating to a “strong sell” rating in a report on Saturday. Wells Fargo & Co decreased their price target on Cheesecake Factory from $47.00 to $46.00 and set a “market perform” rating on the stock in a report on Thursday, August 1st. Wedbush decreased their price target on Cheesecake Factory from $45.00 to $43.00 and set a “neutral” rating on the stock in a report on Thursday, August 1st. Telsey Advisory Group restated a “market perform” rating and set a $50.00 price target (down previously from $54.00) on shares of Cheesecake Factory in a report on Thursday, August 1st. Finally, ValuEngine lowered Cheesecake Factory from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the company’s stock. Cheesecake Factory presently has an average rating of “Hold” and a consensus target price of $49.25.
Cheesecake Factory (NASDAQ:CAKE) last released its earnings results on Wednesday, July 31st. The restaurant operator reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.01. Cheesecake Factory had a return on equity of 21.31% and a net margin of 4.52%. The business had revenue of $602.65 million for the quarter, compared to analyst estimates of $612.16 million. During the same quarter last year, the firm posted $0.61 earnings per share. The business’s revenue was up 2.6% compared to the same quarter last year. Research analysts expect that Cheesecake Factory Inc will post 2.62 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 27th. Shareholders of record on Wednesday, August 14th will be paid a $0.36 dividend. This is a positive change from Cheesecake Factory’s previous quarterly dividend of $0.33. The ex-dividend date is Tuesday, August 13th. This represents a $1.44 dividend on an annualized basis and a yield of 3.95%. Cheesecake Factory’s dividend payout ratio (DPR) is presently 59.26%.
In other news, Director Laurence B. Mindel purchased 2,500 shares of the business’s stock in a transaction dated Monday, August 12th. The shares were purchased at an average price of $39.04 per share, for a total transaction of $97,600.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Edie A. Ames purchased 750 shares of the business’s stock in a transaction dated Tuesday, August 6th. The shares were purchased at an average price of $42.18 per share, for a total transaction of $31,635.00. Following the purchase, the director now owns 3,880 shares of the company’s stock, valued at approximately $163,658.40. The disclosure for this purchase can be found here. Company insiders own 8.50% of the company’s stock.
Cheesecake Factory Company Profile
The Cheesecake Factory Incorporated engages in the operation of restaurants. The company produces cheesecakes and other baked products for own restaurants and international licensees, as well as external foodservice operators, retailers, and distributors. As of April 16, 2019, it owned and operated 219 full-service casual-dining restaurants in the United States, including Puerto Rico and Canada comprising 202 restaurants under The Cheesecake Factory name; 14 restaurants under the Grand Lux Café name; and 2 restaurants under the RockSugar Southeast Asian Kitchen name, as well as 22 The Cheesecake Factory restaurants under licensing agreements internationally.
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