23,436 Shares in The Cheesecake Factory Incorporated $CAKE Acquired by Man Group plc

Man Group plc acquired a new stake in shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE) in the 2nd quarter, HoldingsChannel.com reports. The firm acquired 23,436 shares of the restaurant operator’s stock, valued at approximately $1,864,000.

Other institutional investors have also recently made changes to their positions in the company. Invesco Ltd. grew its stake in Cheesecake Factory by 13.6% during the 4th quarter. Invesco Ltd. now owns 2,337,671 shares of the restaurant operator’s stock worth $118,006,000 after buying an additional 280,553 shares during the last quarter. State Street Corp raised its stake in Cheesecake Factory by 0.3% in the fourth quarter. State Street Corp now owns 1,785,955 shares of the restaurant operator’s stock valued at $90,155,000 after buying an additional 4,535 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in Cheesecake Factory by 16.4% in the fourth quarter. Victory Capital Management Inc. now owns 1,474,320 shares of the restaurant operator’s stock worth $74,424,000 after acquiring an additional 207,788 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Cheesecake Factory by 2.4% in the first quarter. Dimensional Fund Advisors LP now owns 1,242,143 shares of the restaurant operator’s stock worth $68,008,000 after acquiring an additional 29,037 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Cheesecake Factory by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 1,152,174 shares of the restaurant operator’s stock worth $58,170,000 after acquiring an additional 4,577 shares during the last quarter. Institutional investors and hedge funds own 94.48% of the company’s stock.

Wall Street Analysts Forecast Growth

CAKE has been the topic of several recent analyst reports. Stephens restated a “positive” rating on shares of Cheesecake Factory in a report on Wednesday, July 29th. Morgan Stanley raised shares of Cheesecake Factory from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $50.00 to $80.00 in a research report on Wednesday, July 29th. Wells Fargo & Company upped their price target on shares of Cheesecake Factory from $65.00 to $75.00 and gave the company an “equal weight” rating in a research note on Thursday, July 16th. UBS Group lifted their price objective on shares of Cheesecake Factory from $53.00 to $60.00 and gave the stock a “sell” rating in a research note on Thursday, July 23rd. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Cheesecake Factory from $92.00 to $105.00 and gave the company a “neutral” rating in a report on Wednesday, August 26th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $83.47.

Insider Buying and Selling

In other Cheesecake Factory news, Director Janice L. Meyer sold 1,958 shares of the stock in a transaction dated 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 directly owned 21,251 shares of the company’s stock, valued at approximately $2,324,009.36. This trade represents a 8.44% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Scarlett May sold 7,978 shares of Cheesecake Factory stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $102.66, for a total value of $819,021.48. Following the transaction, the executive vice president owned 18,241 shares of the company’s stock, valued at $1,872,621.06. The trade was a 30.43% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 213,749 shares of company stock valued at $22,301,899 in the last 90 days. 8.00% of the stock is currently owned by insiders.

Cheesecake Factory Stock Performance

CAKE opened at $108.36 on Wednesday. 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 Cheesecake Factory Incorporated has a 12-month low of $43.07 and a 12-month high of $118.46. The firm has a 50 day moving average of $95.37 and a two-hundred day moving average of $73.99. The firm has a market capitalization of $5.39 billion, a PE ratio of 29.37, a P/E/G ratio of 1.85 and a beta of 1.01.

Cheesecake Factory (NASDAQ:CAKE) last released its quarterly earnings data on Tuesday, July 28th. The restaurant operator reported $1.44 EPS for the quarter, beating the consensus estimate of $1.18 by $0.26. The business had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $999.54 million. Cheesecake Factory had a net margin of 4.61% and a return on equity of 43.97%. The business’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same period in the prior year, the firm earned $1.16 EPS. On average, analysts anticipate that The Cheesecake Factory Incorporated will post 4.52 EPS for the current year.

Cheesecake Factory Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 25th. Shareholders of record on Tuesday, August 11th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Tuesday, August 11th. Cheesecake Factory’s dividend payout ratio is presently 32.52%.

Cheesecake Factory Profile

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.