Bank of New York Mellon Corp Has $97.42 Million Stake in Cheesecake Factory Inc (CAKE)

Bank of New York Mellon Corp lifted its position in Cheesecake Factory Inc (NASDAQ:CAKE) by 0.4% in the second quarter, Holdings Channel reports. The institutional investor owned 1,769,385 shares of the restaurant operator’s stock after purchasing an additional 7,158 shares during the period. Bank of New York Mellon Corp’s holdings in Cheesecake Factory were worth $97,422,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently modified their holdings of the company. BlackRock Inc. raised its stake in Cheesecake Factory by 8.3% during the 2nd quarter. BlackRock Inc. now owns 5,177,817 shares of the restaurant operator’s stock valued at $285,089,000 after purchasing an additional 398,351 shares during the last quarter. Macquarie Group Ltd. raised its stake in Cheesecake Factory by 5.4% during the 2nd quarter. Macquarie Group Ltd. now owns 1,721,208 shares of the restaurant operator’s stock valued at $94,770,000 after purchasing an additional 87,988 shares during the last quarter. Schroder Investment Management Group raised its stake in Cheesecake Factory by 96.0% during the 2nd quarter. Schroder Investment Management Group now owns 1,237,553 shares of the restaurant operator’s stock valued at $79,973,000 after purchasing an additional 606,024 shares during the last quarter. Voya Investment Management LLC raised its stake in Cheesecake Factory by 15.8% during the 2nd quarter. Voya Investment Management LLC now owns 784,960 shares of the restaurant operator’s stock valued at $43,220,000 after purchasing an additional 107,303 shares during the last quarter. Finally, Great West Life Assurance Co. Can raised its stake in Cheesecake Factory by 1.6% during the 2nd quarter. Great West Life Assurance Co. Can now owns 651,200 shares of the restaurant operator’s stock valued at $35,883,000 after purchasing an additional 9,940 shares during the last quarter.

In other news, insider Cheryl Slomann sold 1,005 shares of the stock in a transaction on Monday, August 27th. The shares were sold at an average price of $52.94, for a total value of $53,204.70. Following the completion of the transaction, the insider now owns 12,106 shares in the company, valued at approximately $640,891.64. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Edie A. Ames acquired 500 shares of the company’s stock in a transaction dated Wednesday, August 22nd. The stock was acquired at an average price of $52.83 per share, with a total value of $26,415.00. Following the purchase, the director now owns 1,430 shares in the company, valued at approximately $75,546.90. The disclosure for this purchase can be found here. Corporate insiders own 8.80% of the company’s stock.

Several equities analysts recently commented on CAKE shares. UBS Group cut shares of Cheesecake Factory from a “buy” rating to a “neutral” rating in a research note on Monday, October 15th. BidaskClub upgraded shares of Cheesecake Factory from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, July 24th. Morgan Stanley cut their target price on shares of Cheesecake Factory from $51.00 to $50.00 and set an “equal weight” rating for the company in a research note on Wednesday, August 1st. Barclays cut their target price on shares of Cheesecake Factory from $56.00 to $54.00 and set an “equal weight” rating for the company in a research note on Wednesday, August 1st. Finally, Zacks Investment Research cut shares of Cheesecake Factory from a “hold” rating to a “strong sell” rating in a research note on Friday, August 3rd. Sixteen investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $52.93.

Shares of CAKE stock opened at $52.30 on Friday. Cheesecake Factory Inc has a 52-week low of $43.14 and a 52-week high of $60.19. The firm has a market capitalization of $2.36 billion, a PE ratio of 20.12, a price-to-earnings-growth ratio of 1.46 and a beta of 0.33. The company has a quick ratio of 0.38, a current ratio of 0.02 and a debt-to-equity ratio of 0.03.

Cheesecake Factory (NASDAQ:CAKE) last announced its quarterly earnings data on Tuesday, October 30th. The restaurant operator reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.04. Cheesecake Factory had a net margin of 6.02% and a return on equity of 18.02%. The company had revenue of $580.88 million during the quarter, compared to analysts’ expectations of $585.44 million. During the same quarter in the prior year, the company posted $0.56 EPS. The business’s revenue was up 4.6% on a year-over-year basis. As a group, equities research analysts forecast that Cheesecake Factory Inc will post 2.44 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 27th. Stockholders of record on Wednesday, November 14th will be paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.52%. The ex-dividend date of this dividend is Tuesday, November 13th. Cheesecake Factory’s dividend payout ratio is 50.77%.

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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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Institutional Ownership by Quarter for Cheesecake Factory (NASDAQ:CAKE)

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