Rafferty Asset Management LLC boosted its stake in Cheesecake Factory Inc (NASDAQ:CAKE) by 10.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 67,957 shares of the restaurant operator’s stock after buying an additional 6,665 shares during the period. Rafferty Asset Management LLC owned approximately 0.15% of Cheesecake Factory worth $3,638,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of CAKE. BlackRock Inc. grew its position in Cheesecake Factory by 0.6% in the 3rd quarter. BlackRock Inc. now owns 5,207,842 shares of the restaurant operator’s stock valued at $278,827,000 after acquiring an additional 30,025 shares in the last quarter. Bank of New York Mellon Corp grew its position in Cheesecake Factory by 5.0% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,857,146 shares of the restaurant operator’s stock valued at $99,431,000 after acquiring an additional 87,761 shares in the last quarter. Macquarie Group Ltd. grew its position in Cheesecake Factory by 5.4% in the 2nd quarter. Macquarie Group Ltd. now owns 1,721,208 shares of the restaurant operator’s stock valued at $94,770,000 after acquiring an additional 87,988 shares in the last quarter. Schroder Investment Management Group grew its position in Cheesecake Factory by 96.0% in 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 acquiring an additional 606,024 shares in the last quarter. Finally, Northern Trust Corp grew its position in Cheesecake Factory by 0.7% in the 2nd quarter. Northern Trust Corp now owns 838,782 shares of the restaurant operator’s stock valued at $46,183,000 after acquiring an additional 6,152 shares in the last quarter.
Several research firms have weighed in on CAKE. Wedbush reaffirmed a “hold” rating and issued a $55.00 target price on shares of Cheesecake Factory in a research report on Wednesday, August 1st. Zacks Investment Research raised Cheesecake Factory from a “sell” rating to a “hold” rating in a research report on Wednesday, October 24th. BidaskClub raised Cheesecake Factory from a “hold” rating to a “buy” rating in a research report on Friday, November 16th. Maxim Group reaffirmed a “hold” rating and issued a $57.00 target price on shares of Cheesecake Factory in a research report on Wednesday, August 1st. Finally, ValuEngine downgraded Cheesecake Factory from a “buy” rating to a “hold” rating in a research report on Thursday, November 1st. One equities 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 stock. The company currently has a consensus rating of “Hold” and an average target price of $52.67.
Shares of Cheesecake Factory stock opened at $50.18 on Friday. Cheesecake Factory Inc has a one year low of $43.26 and a one year high of $60.19. The stock has a market cap of $2.27 billion, a PE ratio of 21.26, a P/E/G ratio of 1.43 and a beta of 0.33. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.45 and a quick ratio of 0.33.
Cheesecake Factory (NASDAQ:CAKE) last announced its quarterly earnings data on Tuesday, October 30th. The restaurant operator reported $0.62 EPS for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.04. Cheesecake Factory had a return on equity of 18.02% and a net margin of 6.02%. The business had revenue of $580.88 million during the quarter, compared to the consensus estimate of $585.44 million. During the same period in the previous year, the company posted $0.56 earnings per share. The business’s revenue for the quarter was up 4.6% on a year-over-year basis. On average, sell-side analysts predict that Cheesecake Factory Inc will post 2.44 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 27th. Stockholders of record on Wednesday, November 14th will be given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.63%. The ex-dividend date is Tuesday, November 13th. Cheesecake Factory’s dividend payout ratio is presently 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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