Commonwealth Bank of Australia purchased a new position in shares of Cheesecake Factory Inc (NASDAQ:CAKE) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 4,800 shares of the restaurant operator’s stock, valued at approximately $256,000.
Several other hedge funds have also recently added to or reduced their stakes in CAKE. Principal Financial Group Inc. increased its holdings in Cheesecake Factory by 4.4% in the first quarter. Principal Financial Group Inc. now owns 242,877 shares of the restaurant operator’s stock valued at $11,711,000 after purchasing an additional 10,164 shares during the last quarter. Rice Hall James & Associates LLC increased its holdings in Cheesecake Factory by 4.0% in the second quarter. Rice Hall James & Associates LLC now owns 451,408 shares of the restaurant operator’s stock valued at $24,855,000 after purchasing an additional 17,205 shares during the last quarter. Jennison Associates LLC bought a new stake in Cheesecake Factory in the second quarter valued at about $755,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in Cheesecake Factory in the second quarter valued at about $633,000. Finally, Sei Investments Co. increased its holdings in Cheesecake Factory by 109.3% in the second quarter. Sei Investments Co. now owns 7,056 shares of the restaurant operator’s stock valued at $388,000 after purchasing an additional 3,685 shares during the last quarter.
NASDAQ:CAKE opened at $47.19 on Friday. Cheesecake Factory Inc has a 1 year low of $43.26 and a 1 year high of $60.19. The company has a quick ratio of 0.33, a current ratio of 0.45 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $2.16 billion, a price-to-earnings ratio of 18.15, a price-to-earnings-growth ratio of 1.36 and a beta of 0.33.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 27th. Stockholders of record on Wednesday, November 14th were given a dividend of $0.33 per share. The ex-dividend date of this dividend was Tuesday, November 13th. This represents a $1.32 annualized dividend and a dividend yield of 2.80%. Cheesecake Factory’s dividend payout ratio is currently 50.77%.
A number of equities research analysts recently commented on the company. BidaskClub upgraded Cheesecake Factory from a “hold” rating to a “buy” rating in a report on Friday, November 16th. Loop Capital assumed coverage on Cheesecake Factory in a report on Wednesday, October 24th. They issued a “hold” rating and a $55.00 price objective for the company. ValuEngine downgraded Cheesecake Factory from a “buy” rating to a “hold” rating in a report on Thursday, November 1st. Gordon Haskett assumed coverage on Cheesecake Factory in a report on Thursday, October 18th. They issued a “hold” rating and a $53.00 price objective for the company. Finally, Barclays downgraded Cheesecake Factory from an “equal weight” rating to an “underweight” rating and dropped their price objective for the company from $51.00 to $47.00 in a report on Monday, November 12th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $52.47.
In other news, insider Cheryl Slomann sold 7,500 shares of the company’s stock in a transaction dated Tuesday, November 20th. The stock was sold at an average price of $49.21, for a total transaction of $369,075.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 8.80% of the stock is owned by corporate insiders.
About Cheesecake Factory
The Cheesecake Factory Incorporated operates restaurants in the United States. 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 August 21, 2018, it operated 215 company-owned restaurants, including 199 restaurants under The Cheesecake Factory brand; 14 restaurants under the Grand Lux Cafe brand; and 2 restaurants under the RockSugar Southeast Asian Kitchen brand, as well as 21 The Cheesecake Factory branded restaurants under licensing agreements internationally.
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