Marshall Wace LLP purchased a new position in Cheesecake Factory Inc (NASDAQ:CAKE) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 113,510 shares of the restaurant operator’s stock, valued at approximately $6,250,000. Marshall Wace LLP owned approximately 0.25% of Cheesecake Factory at the end of the most recent quarter.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wells Fargo & Company MN increased its position in Cheesecake Factory by 0.6% during the 1st quarter. Wells Fargo & Company MN now owns 887,351 shares of the restaurant operator’s stock valued at $42,788,000 after buying an additional 5,652 shares in the last quarter. SG Americas Securities LLC increased its position in Cheesecake Factory by 5.2% during the 1st quarter. SG Americas Securities LLC now owns 30,823 shares of the restaurant operator’s stock valued at $1,486,000 after buying an additional 1,530 shares in the last quarter. Schwab Charles Investment Management Inc. increased its position in Cheesecake Factory by 8.9% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 384,893 shares of the restaurant operator’s stock valued at $18,560,000 after buying an additional 31,574 shares in the last quarter. US Bancorp DE increased its position in Cheesecake Factory by 113.9% during the 1st quarter. US Bancorp DE now owns 23,400 shares of the restaurant operator’s stock valued at $1,129,000 after buying an additional 12,459 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. acquired a new position in Cheesecake Factory during the 1st quarter valued at about $289,000.
In other news, insider Cheryl Slomann sold 1,005 shares of the company’s stock in a transaction dated Monday, August 27th. The stock was sold at an average price of $52.94, for a total value of $53,204.70. Following the sale, the insider now owns 12,106 shares in the company, valued at $640,891.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Edie A. Ames bought 500 shares of the stock in a transaction dated Wednesday, August 22nd. The stock was bought at an average price of $52.83 per share, for a total transaction of $26,415.00. Following the purchase, the director now directly owns 1,430 shares of the company’s stock, valued at $75,546.90. The disclosure for this purchase can be found here. 8.80% of the stock is currently owned by insiders.
Cheesecake Factory (NASDAQ:CAKE) last posted its quarterly earnings results on Tuesday, July 31st. The restaurant operator reported $0.65 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.81 by ($0.16). The firm had revenue of $593.20 million for the quarter, compared to analysts’ expectations of $592.40 million. Cheesecake Factory had a net margin of 6.00% and a return on equity of 17.87%. The firm’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.78 EPS. research analysts forecast that Cheesecake Factory Inc will post 2.43 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, August 28th. Shareholders of record on Wednesday, August 15th were paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 2.49%. The ex-dividend date of this dividend was Tuesday, August 14th. This is an increase from Cheesecake Factory’s previous quarterly dividend of $0.29. Cheesecake Factory’s payout ratio is presently 50.77%.
Several research analysts recently issued reports on CAKE shares. ValuEngine lowered Cheesecake Factory from a “hold” rating to a “sell” rating in a research report on Tuesday, May 22nd. BidaskClub raised Cheesecake Factory from a “hold” rating to a “buy” rating in a research report on Thursday, June 7th. Maxim Group upped their target price on Cheesecake Factory from $57.00 to $60.00 and gave the company a “buy” rating in a research report on Thursday, June 14th. Bank of America upped their target price on Cheesecake Factory from $52.00 to $55.00 and gave the company a “neutral” rating in a research report on Thursday, June 14th. Finally, BTIG Research lowered Cheesecake Factory from a “buy” rating to a “neutral” rating in a research report on Monday, June 18th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and two have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $51.73.
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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