Cheesecake Factory Inc (NASDAQ:CAKE) Short Interest Update

Cheesecake Factory Inc (NASDAQ:CAKE) was the recipient of a large decline in short interest during the month of July. As of July 31st, there was short interest totalling 8,804,800 shares, a decline of 11.1% from the June 30th total of 9,903,400 shares. Based on an average daily trading volume, of 701,700 shares, the short-interest ratio is currently 12.5 days. Approximately 21.1% of the company’s shares are sold short.

Several equities research analysts recently commented on CAKE shares. Deutsche Bank started coverage on Cheesecake Factory in a research report on Friday, June 28th. They set a “hold” rating and a $46.00 target price on the stock. Maxim Group restated a “buy” rating and set a $61.00 target price on shares of Cheesecake Factory in a research report on Thursday, August 1st. ValuEngine lowered Cheesecake Factory from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. Raymond James cut their target price on Cheesecake Factory from $56.00 to $53.00 and set an “outperform” rating on the stock in a research report on Monday, July 15th. Finally, UBS Group started coverage on Cheesecake Factory in a research report on Friday, April 26th. They set a “neutral” rating and a $51.00 target price on the stock. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $49.25.

In other Cheesecake Factory news, Director Laurence B. Mindel bought 2,500 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The shares were bought at an average price of $39.04 per share, for a total transaction of $97,600.00. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, Director Edie A. Ames bought 750 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The shares were acquired at an average price of $42.18 per share, for a total transaction of $31,635.00. Following the transaction, the director now owns 3,880 shares in the company, valued at $163,658.40. The disclosure for this purchase can be found here. Insiders own 8.50% of the company’s stock.



A number of large investors have recently added to or reduced their stakes in the business. Retirement Systems of Alabama boosted its holdings in shares of Cheesecake Factory by 0.4% in the first quarter. Retirement Systems of Alabama now owns 54,295 shares of the restaurant operator’s stock worth $2,656,000 after acquiring an additional 212 shares during the period. Oregon Public Employees Retirement Fund increased its holdings in Cheesecake Factory by 1.4% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 17,101 shares of the restaurant operator’s stock valued at $748,000 after purchasing an additional 238 shares during the period. Arizona State Retirement System increased its holdings in Cheesecake Factory by 0.8% during the 2nd quarter. Arizona State Retirement System now owns 30,187 shares of the restaurant operator’s stock valued at $1,320,000 after purchasing an additional 238 shares during the period. Advisory Services Network LLC increased its holdings in Cheesecake Factory by 38.2% during the 2nd quarter. Advisory Services Network LLC now owns 894 shares of the restaurant operator’s stock valued at $39,000 after purchasing an additional 247 shares during the period. Finally, 6 Meridian increased its holdings in Cheesecake Factory by 2.5% during the 2nd quarter. 6 Meridian now owns 10,622 shares of the restaurant operator’s stock valued at $464,000 after purchasing an additional 255 shares during the period. 98.26% of the stock is owned by institutional investors and hedge funds.

Shares of CAKE opened at $36.24 on Friday. The company has a current ratio of 0.36, a quick ratio of 0.26 and a debt-to-equity ratio of 1.81. The company has a market capitalization of $1.75 billion, a price-to-earnings ratio of 14.91, a PEG ratio of 1.15 and a beta of 0.41. The stock has a 50 day moving average of $42.73 and a 200 day moving average of $45.67. Cheesecake Factory has a 12 month low of $36.15 and a 12 month high of $55.63.

Cheesecake Factory (NASDAQ:CAKE) last issued its quarterly earnings results on Wednesday, July 31st. The restaurant operator reported $0.82 EPS for the quarter, beating the Zacks’ consensus estimate of $0.81 by $0.01. The company had revenue of $602.65 million during the quarter, compared to the consensus estimate of $612.16 million. Cheesecake Factory had a return on equity of 21.31% and a net margin of 4.52%. Cheesecake Factory’s revenue was up 2.6% on a year-over-year basis. During the same period last year, the business posted $0.61 earnings per share. As a group, equities research analysts predict that Cheesecake Factory will post 2.62 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 27th. Investors of record on Wednesday, August 14th will be given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 3.97%. This is an increase from Cheesecake Factory’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend is Tuesday, August 13th. Cheesecake Factory’s dividend payout ratio (DPR) is presently 59.26%.

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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