Connor Clark & Lunn Investment Management Ltd. bought a new position in The Cheesecake Factory Incorporated (NASDAQ:CAKE - Free Report) in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 36,766 shares of the restaurant operator's stock, valued at approximately $2,924,000. Connor Clark & Lunn Investment Management Ltd. owned about 0.07% of Cheesecake Factory at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also bought and sold shares of CAKE. Oppenheimer Asset Management Inc. acquired a new stake in Cheesecake Factory in the second quarter valued at $2,606,000. Fisher Asset Management LLC grew its stake in shares of Cheesecake Factory by 7.2% during the 4th quarter. Fisher Asset Management LLC now owns 503,184 shares of the restaurant operator's stock worth $25,401,000 after purchasing an additional 33,959 shares during the period. Louisiana State Employees Retirement System purchased a new position in shares of Cheesecake Factory in the 1st quarter valued at about $1,111,000. California State Teachers Retirement System increased its holdings in shares of Cheesecake Factory by 24.9% in the 1st quarter. California State Teachers Retirement System now owns 55,576 shares of the restaurant operator's stock valued at $3,043,000 after purchasing an additional 11,088 shares in the last quarter. Finally, Intech Investment Management LLC lifted its stake in shares of Cheesecake Factory by 127.7% in the fourth quarter. Intech Investment Management LLC now owns 60,513 shares of the restaurant operator's stock valued at $3,055,000 after purchasing an additional 33,936 shares during the period. Hedge funds and other institutional investors own 94.48% of the company's stock.
Insider Transactions at Cheesecake Factory
In other Cheesecake Factory news, Director Janice L. Meyer sold 1,958 shares of the stock in a transaction on Monday, August 17th. The stock was sold at an average price of $109.36, for a total transaction of $214,126.88. Following the sale, the director owned 21,251 shares in the company, valued at approximately $2,324,009.36. This represents a 8.44% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Edie A. Ames sold 3,000 shares of the stock in a transaction on Monday, August 10th. The shares were sold at an average price of $106.95, for a total value of $320,850.00. Following the sale, the director owned 10,000 shares in the company, valued at approximately $1,069,500. This trade represents a 23.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 216,239 shares of company stock worth $22,463,500 in the last quarter. Insiders own 8.00% of the company's stock.
Analysts Set New Price Targets
Several research analysts have weighed in on the stock. Wells Fargo & Company upped their target price on shares of Cheesecake Factory from $65.00 to $75.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 16th. Morgan Stanley upgraded shares of Cheesecake Factory from an "underweight" rating to an "equal weight" rating and lifted their price target for the company from $50.00 to $80.00 in a research report on Wednesday, July 29th. JPMorgan Chase & Co. boosted their price target on Cheesecake Factory from $92.00 to $105.00 and gave the stock a "neutral" rating in a research note on Wednesday. Weiss Ratings upgraded Cheesecake Factory from a "buy (b-)" rating to a "buy (b)" rating in a report on Thursday, August 13th. Finally, Stephens reaffirmed a "positive" rating on shares of Cheesecake Factory in a research note on Wednesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Cheesecake Factory has an average rating of "Hold" and an average price target of $83.47.
View Our Latest Analysis on Cheesecake Factory
Cheesecake Factory Price Performance
Shares of NASDAQ CAKE opened at $112.07 on Friday. The company has a current ratio of 0.59, a quick ratio of 0.52 and a debt-to-equity ratio of 1.08. The company's 50-day moving average price is $94.09 and its 200 day moving average price is $73.25. The Cheesecake Factory Incorporated has a 52 week low of $43.07 and a 52 week high of $118.46. The stock has a market cap of $5.58 billion, a price-to-earnings ratio of 30.37, a PEG ratio of 1.95 and a beta of 1.00.
Cheesecake Factory (NASDAQ:CAKE - Get Free Report) last announced its earnings results on Tuesday, July 28th. The restaurant operator reported $1.44 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.18 by $0.26. Cheesecake Factory had a net margin of 4.61% and a return on equity of 43.97%. The company had revenue of $1.03 billion during the quarter, compared to analysts' expectations of $999.54 million. During the same quarter in the previous year, the business posted $1.16 earnings per share. The firm's quarterly revenue was up 7.7% compared to the same quarter last year. As a group, research analysts forecast that The Cheesecake Factory Incorporated will post 4.52 earnings per share for the current fiscal year.
Cheesecake Factory Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 25th. Investors of record on Tuesday, August 11th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.1%. The ex-dividend date was Tuesday, August 11th. Cheesecake Factory's payout ratio is currently 32.52%.
About Cheesecake Factory
(
Free Report)
The Cheesecake Factory Incorporated NASDAQ: CAKE is an American restaurant company and distributor renowned for its full-service casual-dining concept and specialty cheesecakes. Headquartered in Calabasas Hills, California, the company operates more than 200 restaurants under The Cheesecake Factory® brand across the United States, Puerto Rico and select international markets. In addition to sit-down dining, Cheesecake Factory franchised locations offer catering and take-out services, while a separate manufacturing arm supplies branded cheesecakes and desserts to supermarkets, hotels and other foodservice operators.
The origins of the brand trace back to a small cheesecake bakery founded in Detroit in the 1940s.
See Also
Want to see what other hedge funds are holding CAKE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Cheesecake Factory Incorporated (NASDAQ:CAKE - Free Report).
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