FDx Advisors Inc. grew its holdings in shares of Cheesecake Factory Inc (NASDAQ:CAKE) by 39.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 16,414 shares of the restaurant operator’s stock after purchasing an additional 4,622 shares during the period. FDx Advisors Inc.’s holdings in Cheesecake Factory were worth $879,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Itau Unibanco Holding S.A. acquired a new position in shares of Cheesecake Factory in the 2nd quarter valued at $156,000. NumerixS Investment Technologies Inc increased its position in shares of Cheesecake Factory by 2,900.0% in the 2nd quarter. NumerixS Investment Technologies Inc now owns 3,000 shares of the restaurant operator’s stock valued at $168,000 after acquiring an additional 2,900 shares during the period. Advisors Asset Management Inc. increased its position in shares of Cheesecake Factory by 452.7% in the 2nd quarter. Advisors Asset Management Inc. now owns 22,504 shares of the restaurant operator’s stock valued at $202,000 after acquiring an additional 18,432 shares during the period. Oppenheimer Asset Management Inc. acquired a new position in shares of Cheesecake Factory in the 2nd quarter valued at $226,000. Finally, Commonwealth Bank of Australia acquired a new position in shares of Cheesecake Factory in the 3rd quarter valued at $256,000.
Shares of CAKE opened at $47.19 on Friday. The stock has a market cap of $2.14 billion, a price-to-earnings ratio of 20.00, a P/E/G ratio of 1.34 and a beta of 0.33. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.33 and a current ratio of 0.45. Cheesecake Factory Inc has a fifty-two week low of $43.26 and a fifty-two week high of $60.19.
The business also recently declared a quarterly dividend, which was paid on Tuesday, November 27th. Shareholders of record on Wednesday, November 14th were given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 2.80%. The ex-dividend date of this dividend was Tuesday, November 13th. Cheesecake Factory’s dividend payout ratio is currently 50.77%.
In other Cheesecake Factory news, insider Cheryl Slomann sold 7,500 shares of the 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 sale was disclosed in a filing with the SEC, which is available through this link. 8.80% of the stock is currently owned by company insiders.
CAKE has been the topic of several research reports. Barclays cut their target price on Cheesecake Factory from $54.00 to $51.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 31st. UBS Group downgraded Cheesecake Factory from a “buy” rating to a “neutral” rating in a research report on Monday, October 15th. Loop Capital initiated coverage on Cheesecake Factory in a research report on Wednesday, October 24th. They issued a “hold” rating and a $55.00 target price on the stock. BidaskClub downgraded Cheesecake Factory from a “buy” rating to a “hold” rating in a research report on Thursday, September 13th. Finally, Gordon Haskett initiated coverage on Cheesecake Factory in a research report on Thursday, October 18th. They issued a “hold” rating and a $53.00 target price on the stock. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and two have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $52.47.
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Cheesecake Factory Company Profile
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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