Intech Investment Management LLC Increases Holdings in The Cheesecake Factory Incorporated $CAKE

Key Points

• Intech Investment Management LLC increased its shareholding in The Cheesecake Factory by 57.8%, acquiring an additional 15,342 shares, bringing its total ownership to 41,870 shares worth approximately $2,037,000.
• Institutional investors control 94.48% of The Cheesecake Factory's stock, highlighting significant institutional interest in the company.
• The Cheesecake Factory reported a Q2 EPS of $1.16, surpassing analyst expectations, with revenues of $955.83 million, marking a year-over-year increase of 5.7%.

Intech Investment Management LLC increased its stake in The Cheesecake Factory Incorporated (NASDAQ:CAKE - Free Report) by 57.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 41,870 shares of the restaurant operator's stock after purchasing an additional 15,342 shares during the quarter. Intech Investment Management LLC owned approximately 0.08% of Cheesecake Factory worth $2,037,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in CAKE. Principal Financial Group Inc. raised its stake in Cheesecake Factory by 2.2% in the first quarter. Principal Financial Group Inc. now owns 274,877 shares of the restaurant operator's stock worth $13,376,000 after buying an additional 6,047 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in shares of Cheesecake Factory in the 1st quarter worth approximately $5,559,000. Foundry Partners LLC acquired a new position in Cheesecake Factory during the 1st quarter valued at approximately $299,000. Informed Momentum Co LLC acquired a new stake in shares of Cheesecake Factory in the first quarter worth $3,023,000. Finally, Headlands Technologies LLC grew its position in Cheesecake Factory by 50.6% during the first quarter. Headlands Technologies LLC now owns 33,703 shares of the restaurant operator's stock valued at $1,640,000 after buying an additional 11,318 shares during the period. 94.48% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, President David M. Gordon sold 43,335 shares of the company's stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $63.06, for a total transaction of $2,732,705.10. Following the transaction, the president directly owned 24,532 shares of the company's stock, valued at $1,546,987.92. This represents a 63.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Alexander L. Cappello sold 12,388 shares of the stock in a transaction on Thursday, July 31st. The shares were sold at an average price of $65.88, for a total value of $816,121.44. Following the completion of the sale, the director directly owned 6,806 shares of the company's stock, valued at $448,379.28. The trade was a 64.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 8.40% of the company's stock.

Cheesecake Factory Stock Down 1.0%

CAKE stock traded down $0.54 during mid-day trading on Friday, hitting $54.58. 2,053,953 shares of the company were exchanged, compared to its average volume of 1,186,171. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.42 and a current ratio of 0.51. The Cheesecake Factory Incorporated has a 1-year low of $38.40 and a 1-year high of $69.70. The firm has a market cap of $2.72 billion, a P/E ratio of 16.79, a P/E/G ratio of 1.31 and a beta of 1.10. The firm's 50 day simple moving average is $61.66 and its 200 day simple moving average is $56.10.

Cheesecake Factory (NASDAQ:CAKE - Get Free Report) last released its earnings results on Tuesday, July 29th. The restaurant operator reported $1.16 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.10. Cheesecake Factory had a net margin of 4.33% and a return on equity of 45.92%. The business had revenue of $955.83 million during the quarter, compared to analysts' expectations of $945.82 million. During the same period last year, the business earned $1.09 earnings per share. The firm's revenue was up 5.7% on a year-over-year basis. On average, sell-side analysts predict that The Cheesecake Factory Incorporated will post 3.71 EPS for the current fiscal year.

Cheesecake Factory Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 26th. Shareholders of record on Tuesday, August 12th were paid a dividend of $0.27 per share. The ex-dividend date of this dividend was Tuesday, August 12th. This represents a $1.08 annualized dividend and a yield of 2.0%. Cheesecake Factory's payout ratio is presently 33.23%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on CAKE shares. JPMorgan Chase & Co. raised their price objective on shares of Cheesecake Factory from $50.00 to $58.00 and gave the stock an "underweight" rating in a research report on Wednesday, June 25th. Barclays lifted their price target on shares of Cheesecake Factory from $57.00 to $62.00 and gave the stock an "underweight" rating in a research note on Wednesday, July 30th. Robert W. Baird set a $64.00 price objective on shares of Cheesecake Factory and gave the stock a "neutral" rating in a research report on Wednesday, July 30th. Piper Sandler boosted their price objective on shares of Cheesecake Factory from $54.00 to $62.00 and gave the company a "neutral" rating in a research note on Monday, August 4th. Finally, Morgan Stanley upped their price target on shares of Cheesecake Factory from $45.00 to $47.00 and gave the stock an "underweight" rating in a research note on Thursday, July 31st. Seven analysts have rated the stock with a Buy rating, five have given a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Cheesecake Factory presently has a consensus rating of "Hold" and an average price target of $61.94.

Cheesecake Factory Company Profile

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.