Credit Suisse AG boosted its stake in shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE) by 0.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 72,783 shares of the restaurant operator’s stock after buying an additional 190 shares during the period. Credit Suisse AG owned 0.16% of The Cheesecake Factory worth $4,612,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently modified their holdings of CAKE. BlackRock Inc. increased its stake in shares of The Cheesecake Factory by 21,381.3% in the first quarter. BlackRock Inc. now owns 4,842,308 shares of the restaurant operator’s stock valued at $306,812,000 after buying an additional 4,819,766 shares in the last quarter. FMR LLC boosted its position in shares of The Cheesecake Factory by 445.8% in the first quarter. FMR LLC now owns 545,840 shares of the restaurant operator’s stock valued at $34,584,000 after buying an additional 445,840 shares during the last quarter. Norges Bank acquired a new position in shares of The Cheesecake Factory during the fourth quarter valued at $23,189,000. AQR Capital Management LLC boosted its position in shares of The Cheesecake Factory by 52.2% in the first quarter. AQR Capital Management LLC now owns 1,125,972 shares of the restaurant operator’s stock valued at $71,342,000 after buying an additional 386,165 shares during the last quarter. Finally, UBS Asset Management Americas Inc. boosted its position in shares of The Cheesecake Factory by 367.8% in the first quarter. UBS Asset Management Americas Inc. now owns 379,140 shares of the restaurant operator’s stock valued at $24,022,000 after buying an additional 298,089 shares during the last quarter. Institutional investors own 95.16% of the company’s stock.
The Cheesecake Factory Incorporated (NASDAQ CAKE) traded down 1.11% on Friday, hitting $42.88. 1,360,456 shares of the stock were exchanged. The company has a 50-day moving average of $47.71 and a 200 day moving average of $56.99. The firm has a market cap of $1.97 billion, a P/E ratio of 15.00 and a beta of 0.31. The Cheesecake Factory Incorporated has a 12 month low of $42.23 and a 12 month high of $67.14.
The Cheesecake Factory (NASDAQ:CAKE) last announced its quarterly earnings results on Wednesday, August 2nd. The restaurant operator reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.02. The Cheesecake Factory had a net margin of 6.10% and a return on equity of 22.92%. The business had revenue of $569.87 million during the quarter, compared to analysts’ expectations of $573.12 million. During the same period last year, the business earned $0.78 earnings per share. The business’s revenue for the quarter was up 2.0% on a year-over-year basis. Equities research analysts expect that The Cheesecake Factory Incorporated will post $2.67 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 29th. Shareholders of record on Wednesday, August 16th will be given a dividend of $0.29 per share. 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 dividend on an annualized basis and a dividend yield of 2.71%. The Cheesecake Factory’s dividend payout ratio (DPR) is currently 40.70%.
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Several equities analysts recently weighed in on CAKE shares. Zacks Investment Research raised shares of The Cheesecake Factory from a “sell” rating to a “hold” rating in a research report on Tuesday, April 25th. Maxim Group reaffirmed a “hold” rating and issued a $65.00 price target (up previously from $59.00) on shares of The Cheesecake Factory in a research report on Monday, May 1st. Jefferies Group LLC raised shares of The Cheesecake Factory from an “underperform” rating to a “hold” rating and set a $52.00 price target on the stock in a research report on Tuesday, June 13th. They noted that the move was a valuation call. BidaskClub raised shares of The Cheesecake Factory from a “sell” rating to a “hold” rating in a research report on Tuesday, June 13th. Finally, Telsey Advisory Group dropped their target price on shares of The Cheesecake Factory from $66.00 to $62.00 and set an “outperform” rating on the stock in a research report on Wednesday, June 14th. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have given a buy rating to the company’s stock. The company has an average 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 transaction of $379,594.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 8.50% of the stock is owned by company 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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