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Invesco Ltd. Buys 1,178,722 Shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE)

Cheesecake Factory logo with Retail/Wholesale background

Invesco Ltd. lifted its stake in shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE - Free Report) by 83.5% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,591,205 shares of the restaurant operator's stock after purchasing an additional 1,178,722 shares during the quarter. Invesco Ltd. owned 5.23% of Cheesecake Factory worth $126,088,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. USA Financial Formulas bought a new position in Cheesecake Factory in the 1st quarter worth about $49,000. Golden State Wealth Management LLC increased 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 worth $52,000 after acquiring an additional 530 shares during the last quarter. SBI Securities Co. Ltd. increased its stake in Cheesecake Factory by 38.5% in the 1st quarter. SBI Securities Co. Ltd. now owns 1,244 shares of the restaurant operator's stock worth $61,000 after acquiring an additional 346 shares during the last quarter. Bayforest Capital Ltd bought a new position in Cheesecake Factory in the 1st quarter worth about $72,000. Finally, FORA Capital LLC bought a new position in Cheesecake Factory in the 4th quarter worth about $203,000. 94.48% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on CAKE. Raymond James Financial increased their price objective on Cheesecake Factory from $63.00 to $70.00 and gave the company an "outperform" rating in a research report on Thursday, July 17th. JPMorgan Chase & Co. increased their price objective on Cheesecake Factory from $50.00 to $58.00 and gave the company an "underweight" rating in a research report on Wednesday, June 25th. Wells Fargo & Company increased their price objective on Cheesecake Factory from $60.00 to $65.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 30th. Stephens reiterated an "overweight" rating and set a $60.00 price objective on shares of Cheesecake Factory in a research report on Thursday, May 1st. Finally, The Goldman Sachs Group reiterated a "neutral" rating and set a $67.00 price objective (up from $66.00) on shares of Cheesecake Factory in a research report on Thursday, July 10th. Four research analysts have rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $61.75.

View Our Latest Stock Report on Cheesecake Factory

Cheesecake Factory Trading Down 2.2%

Shares of CAKE stock opened at $63.37 on Friday. The stock has a market capitalization of $3.16 billion, a PE ratio of 19.50, a P/E/G ratio of 1.54 and a beta of 1.17. The Cheesecake Factory Incorporated has a 1-year low of $35.40 and a 1-year high of $69.70. The business has a 50-day moving average of $62.30 and a 200 day moving average of $55.04. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.51 and a quick ratio of 0.42.

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

Cheesecake Factory Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 26th. Shareholders of record on Tuesday, August 12th will be issued a $0.27 dividend. The ex-dividend date is Tuesday, August 12th. This represents a $1.08 annualized dividend and a yield of 1.7%. Cheesecake Factory's dividend payout ratio (DPR) is 33.23%.

Insiders Place Their Bets

In other news, EVP Scarlett May sold 18,800 shares of the firm's stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $58.82, for a total value of $1,105,816.00. Following the completion of the transaction, the executive vice president owned 22,872 shares in the company, valued at $1,345,331.04. This trade represents a 45.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Alexander L. Cappello sold 12,388 shares of the firm's stock in a transaction that occurred 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 transaction, the director owned 6,806 shares of the company's stock, valued at approximately $448,379.28. The trade was a 64.54% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 145,388 shares of company stock worth $8,273,113. Corporate insiders own 8.40% of the company's stock.

Cheesecake Factory Profile

(Free Report)

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.

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

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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