Cheesecake Factory Inc (CAKE) Shares Sold by Bridgewater Associates LP
Bridgewater Associates LP lowered its holdings in Cheesecake Factory Inc (NASDAQ:CAKE) by 64.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,171 shares of the restaurant operator’s stock after selling 16,514 shares during the period. Bridgewater Associates LP’s holdings in Cheesecake Factory were worth $491,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Itau Unibanco Holding S.A. purchased a new stake in shares of Cheesecake Factory during the second quarter worth $156,000. NumerixS Investment Technologies Inc raised its holdings in shares of Cheesecake Factory by 2,900.0% during the second quarter. NumerixS Investment Technologies Inc now owns 3,000 shares of the restaurant operator’s stock worth $168,000 after acquiring an additional 2,900 shares in the last quarter. Advisors Asset Management Inc. raised its holdings in shares of Cheesecake Factory by 452.7% during the second quarter. Advisors Asset Management Inc. now owns 22,504 shares of the restaurant operator’s stock worth $202,000 after acquiring an additional 18,432 shares in the last quarter. Oppenheimer Asset Management Inc. purchased a new stake in shares of Cheesecake Factory during the second quarter worth $226,000. Finally, Commonwealth Bank of Australia purchased a new stake in shares of Cheesecake Factory during the third quarter worth $256,000. Institutional investors own 99.44% of the company’s stock.
Several brokerages recently issued reports on CAKE. ValuEngine upgraded Cheesecake Factory from a “hold” rating to a “buy” rating in a report on Thursday, September 6th. BidaskClub lowered Cheesecake Factory from a “buy” rating to a “hold” rating in a report on Thursday, September 13th. Barclays lowered Cheesecake Factory from an “equal weight” rating to an “underweight” rating and cut their price objective for the stock from $51.00 to $47.00 in a report on Monday, November 12th. Gordon Haskett started coverage on Cheesecake Factory in a report on Thursday, October 18th. They set a “hold” rating and a $53.00 target price on the stock. Finally, Zacks Investment Research upgraded Cheesecake Factory from a “sell” rating to a “hold” rating in a report on Wednesday, October 24th. One analyst has rated the stock with a sell rating, sixteen have given a hold rating and one has assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $52.47.
NASDAQ CAKE opened at $46.68 on Thursday. Cheesecake Factory Inc has a fifty-two week low of $43.26 and a fifty-two week high of $60.19. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.33 and a current ratio of 0.45. The stock has a market cap of $2.12 billion, a price-to-earnings ratio of 19.78, a P/E/G ratio of 1.33 and a beta of 0.31.
Cheesecake Factory (NASDAQ:CAKE) last posted its earnings results on Tuesday, October 30th. The restaurant operator reported $0.62 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.58 by $0.04. Cheesecake Factory had a return on equity of 18.02% and a net margin of 6.02%. The company had revenue of $580.88 million for the quarter, compared to analyst estimates of $585.44 million. During the same period last year, the company earned $0.56 earnings per share. The business’s revenue was up 4.6% compared to the same quarter last year. Analysts anticipate that Cheesecake Factory Inc will post 2.44 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 27th. Stockholders of record on Wednesday, November 14th were given a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 2.83%. The ex-dividend date of this dividend was Tuesday, November 13th. Cheesecake Factory’s dividend payout ratio is currently 50.77%.
Cheesecake Factory Profile
The Cheesecake Factory Incorporated operates restaurants in the United States. The company produces cheesecakes and other baked products for own restaurants and international licensees, as well as external foodservice operators, retailers, and distributors. As of August 21, 2018, it operated 215 company-owned restaurants, including 199 restaurants under The Cheesecake Factory brand; 14 restaurants under the Grand Lux Cafe brand; and 2 restaurants under the RockSugar Southeast Asian Kitchen brand, as well as 21 The Cheesecake Factory branded restaurants under licensing agreements internationally.
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