The Cheesecake Factory Incorporated (CAKE) Position Cut by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale lowered its position in shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE) by 42.3% during the second quarter, Holdings Channel reports. The firm owned 70,800 shares of the restaurant operator’s stock after selling 52,000 shares during the period. DekaBank Deutsche Girozentrale’s holdings in The Cheesecake Factory were worth $3,588,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of CAKE. HCR Wealth Advisors raised its stake in shares of The Cheesecake Factory by 0.3% in the first quarter. HCR Wealth Advisors now owns 4,498 shares of the restaurant operator’s stock worth $285,000 after buying an additional 14 shares during the period. Tyers Asset Management LLC raised its stake in shares of 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 worth $134,000 after buying an additional 22 shares during the period. Bank of Montreal Can raised its stake in shares of The Cheesecake Factory by 0.5% in the second quarter. Bank of Montreal Can now owns 5,152 shares of the restaurant operator’s stock worth $259,000 after buying an additional 24 shares during the period. Flinton Capital Management LLC raised its stake in shares of 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 worth $170,000 after buying an additional 28 shares during the period. Finally, Neuburgh Advisers LLC raised its stake in shares of The Cheesecake Factory by 1.1% in the first quarter. Neuburgh Advisers LLC now owns 3,264 shares of the restaurant operator’s stock worth $207,000 after buying an additional 34 shares during the period. Hedge funds and other institutional investors own 95.16% of the company’s stock.

Shares of The Cheesecake Factory Incorporated (NASDAQ CAKE) opened at 43.36 on Friday. The company has a market cap of $1.99 billion, a P/E ratio of 15.17 and a beta of 0.31. The company has a 50 day moving average price of $47.93 and a 200 day moving average price of $57.11. The Cheesecake Factory Incorporated has a one year low of $43.31 and a one year high of $67.14.

The Cheesecake Factory (NASDAQ:CAKE) last announced its earnings results on Wednesday, August 2nd. The restaurant operator reported $0.78 EPS for the quarter, topping the consensus estimate of $0.76 by $0.02. The business had revenue of $569.87 million for the quarter, compared to the consensus estimate of $573.12 million. The Cheesecake Factory had a return on equity of 22.92% and a net margin of 6.10%. The Cheesecake Factory’s revenue was up 2.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.78 EPS. Equities research analysts expect that The Cheesecake Factory Incorporated will post $2.67 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 29th. Stockholders of record on Wednesday, August 16th will be issued a $0.29 dividend. This is an increase from The Cheesecake Factory’s previous quarterly dividend of $0.24. This represents a $1.16 annualized dividend and a dividend yield of 2.68%. The ex-dividend date of this dividend is Monday, August 14th. The Cheesecake Factory’s payout ratio is presently 40.70%.

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A number of equities research analysts have weighed in on the company. Canaccord Genuity restated a “hold” rating and set a $60.00 price objective on shares of The Cheesecake Factory in a research note on Friday, June 16th. BidaskClub lowered The Cheesecake Factory from a “hold” rating to a “sell” rating in a research note on Thursday, June 22nd. Instinet assumed coverage on The Cheesecake Factory in a research note on Wednesday, July 12th. They set a “neutral” rating and a $50.00 price objective for the company. Barclays PLC restated an “equal weight” rating and set a $48.00 price objective (down previously from $53.00) on shares of The Cheesecake Factory in a research note on Thursday, August 3rd. Finally, Robert W. Baird set a $49.00 price objective on The Cheesecake Factory and gave the company a “hold” rating in a research note on Thursday, August 3rd. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have given a buy rating to the stock. The Cheesecake Factory currently has an average rating of “Hold” and a consensus price target of $54.78.

In other news, VP Debby R. Zurzolo sold 6,424 shares of the business’s stock in a transaction that occurred on Thursday, June 1st. The stock was sold at an average price of $59.09, for a total value of $379,594.16. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 8.50% of the stock is owned by insiders.

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.

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

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