Squarepoint Ops LLC increased its stake in shares of Cheesecake Factory Inc (NASDAQ:CAKE) by 111.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 198,942 shares of the restaurant operator’s stock after buying an additional 104,887 shares during the quarter. Squarepoint Ops LLC owned about 0.45% of Cheesecake Factory worth $8,292,000 at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of CAKE. Voloridge Investment Management LLC bought a new stake in Cheesecake Factory in the 3rd quarter valued at about $236,000. Disciplined Growth Investors Inc. MN boosted its position in Cheesecake Factory by 2.1% during the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 970,361 shares of the restaurant operator’s stock worth $40,445,000 after acquiring an additional 19,933 shares during the period. Public Employees Retirement System of Ohio raised its stake in shares of Cheesecake Factory by 6.1% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 74,159 shares of the restaurant operator’s stock worth $3,091,000 after purchasing an additional 4,265 shares in the last quarter. Parametric Portfolio Associates LLC raised its stake in shares of Cheesecake Factory by 42.3% during the 3rd quarter. Parametric Portfolio Associates LLC now owns 294,600 shares of the restaurant operator’s stock worth $12,279,000 after purchasing an additional 87,620 shares in the last quarter. Finally, Systematic Financial Management LP bought a new position in shares of Cheesecake Factory in the 3rd quarter valued at approximately $631,000. 99.42% of the stock is currently owned by institutional investors and hedge funds.
In other Cheesecake Factory news, President David M. Gordon sold 3,700 shares of the business’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $42.98, for a total value of $159,026.00. Following the completion of the transaction, the president now directly owns 25,816 shares of the company’s stock, valued at $1,109,571.68. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Edie A. Ames bought 760 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was acquired at an average cost of $43.25 per share, with a total value of $32,870.00. Following the completion of the purchase, the director now owns 4,640 shares of the company’s stock, valued at approximately $200,680. The disclosure for this purchase can be found here. Insiders own 8.50% of the company’s stock.
Cheesecake Factory (NASDAQ:CAKE) last issued its quarterly earnings data on Tuesday, October 29th. The restaurant operator reported $0.59 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.04. The firm had revenue of $586.50 million during the quarter, compared to the consensus estimate of $597.76 million. Cheesecake Factory had a return on equity of 21.61% and a net margin of 3.99%. The business’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.61 EPS. As a group, research analysts predict that Cheesecake Factory Inc will post 2.65 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, November 26th. Stockholders of record on Tuesday, November 12th were given a dividend of $0.36 per share. The ex-dividend date was Friday, November 8th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 3.31%. Cheesecake Factory’s payout ratio is currently 59.26%.
A number of research analysts recently weighed in on CAKE shares. Raymond James downgraded Cheesecake Factory from an “outperform” rating to a “market perform” rating in a research note on Thursday, October 17th. Morgan Stanley dropped their price target on Cheesecake Factory from $47.00 to $43.00 and set an “equal weight” rating on the stock in a research report on Friday, October 18th. Wells Fargo & Co raised Cheesecake Factory from a “market perform” rating to an “outperform” rating and set a $50.00 price target on the stock in a research report on Friday, September 6th. BidaskClub raised Cheesecake Factory from a “sell” rating to a “hold” rating in a research report on Wednesday, October 23rd. Finally, ValuEngine raised Cheesecake Factory from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $47.25.
Cheesecake Factory 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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