Allspring Global Investments Holdings LLC Makes New $5.56 Million Investment in The Cheesecake Factory Incorporated (NASDAQ:CAKE)

Allspring Global Investments Holdings LLC bought a new position in shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The fund bought 109,295 shares of the restaurant operator's stock, valued at approximately $5,559,000. Allspring Global Investments Holdings LLC owned approximately 0.22% of Cheesecake Factory as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in CAKE. SBI Securities Co. Ltd. purchased a new stake in shares of Cheesecake Factory in the 4th quarter worth about $43,000. USA Financial Formulas acquired a new stake in Cheesecake Factory in the 1st quarter valued at about $49,000. Golden State Wealth Management LLC grew its stake in Cheesecake Factory by 100.0% in the 1st quarter. Golden State Wealth Management LLC now owns 1,060 shares of the restaurant operator's stock valued at $52,000 after acquiring an additional 530 shares during the last quarter. Smartleaf Asset Management LLC grew its stake in Cheesecake Factory by 208.8% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,628 shares of the restaurant operator's stock valued at $125,000 after acquiring an additional 1,777 shares during the last quarter. Finally, Jones Financial Companies Lllp grew its stake in Cheesecake Factory by 150.0% in the 4th quarter. Jones Financial Companies Lllp now owns 3,553 shares of the restaurant operator's stock valued at $169,000 after acquiring an additional 2,132 shares during the last quarter. 94.48% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CAKE has been the topic of a number of research reports. Citigroup lowered their price objective on shares of Cheesecake Factory from $67.00 to $62.00 and set a "buy" rating on the stock in a research note on Tuesday, April 15th. JPMorgan Chase & Co. increased their price objective on shares of Cheesecake Factory from $50.00 to $58.00 and gave the company an "underweight" rating in a research note on Wednesday, June 25th. Barclays lowered their price objective on shares of Cheesecake Factory from $50.00 to $46.00 and set an "underweight" rating on the stock in a research note on Tuesday, April 22nd. Argus set a $60.00 target price on shares of Cheesecake Factory in a report on Wednesday, May 14th. Finally, Stephens restated an "overweight" rating and issued a $60.00 target price on shares of Cheesecake Factory in a report on Thursday, May 1st. Four investment analysts have rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $54.63.

Cheesecake Factory Stock Down 0.1%

NASDAQ:CAKE traded down $0.06 during trading hours on Friday, hitting $65.21. The stock had a trading volume of 607,895 shares, compared to its average volume of 1,245,402. The company has a current ratio of 0.53, a quick ratio of 0.43 and a debt-to-equity ratio of 1.85. The Cheesecake Factory Incorporated has a 1-year low of $33.50 and a 1-year high of $65.99. The business has a 50 day simple moving average of $56.10 and a two-hundred day simple moving average of $52.16. The company has a market cap of $3.23 billion, a PE ratio of 20.44, a price-to-earnings-growth ratio of 1.67 and a beta of 1.16.

Cheesecake Factory (NASDAQ:CAKE - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The restaurant operator reported $0.93 earnings per share for the quarter, topping analysts' consensus estimates of $0.81 by $0.12. Cheesecake Factory had a net margin of 4.33% and a return on equity of 46.06%. The business had revenue of $927.20 million during the quarter, compared to the consensus estimate of $927.17 million. During the same quarter last year, the company earned $0.73 earnings per share. The business's quarterly revenue was up 4.0% compared to the same quarter last year. Analysts predict that The Cheesecake Factory Incorporated will post 3.71 EPS for the current year.

Cheesecake Factory Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 27th. Investors of record on Wednesday, May 14th were paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 1.66%. The ex-dividend date was Wednesday, May 14th. Cheesecake Factory's dividend payout ratio (DPR) is presently 33.86%.

Insider Buying and Selling

In other Cheesecake Factory news, EVP Scarlett May sold 20,800 shares of the firm's stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $56.02, for a total value of $1,165,216.00. Following the sale, the executive vice president directly owned 22,872 shares in the company, valued at approximately $1,281,289.44. This trade represents a 47.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Keith Carango sold 50,500 shares of Cheesecake Factory stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $55.12, for a total value of $2,783,560.00. Following the transaction, the insider directly owned 20,774 shares in the company, valued at approximately $1,145,062.88. The trade was a 70.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 133,000 shares of company stock worth $7,456,992 over the last ninety days. 8.40% of the stock is owned by insiders.

About Cheesecake Factory

The Cheesecake Factory Incorporated operates and licenses restaurants in the United States and Canada. The company operates bakeries that produce cheesecakes and other baked products for its restaurants, international licensees, third-party bakery customers, external foodservice operators, retailers, and distributors.