Investors Buy The Cheesecake Factory Incorporated (CAKE) on Weakness
Investors bought shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE) on weakness during trading on Thursday. $34.03 million flowed into the stock on the tick-up and $7.46 million flowed out of the stock on the tick-down, for a money net flow of $26.57 million into the stock. Of all stocks tracked, The Cheesecake Factory had the 28th highest net in-flow for the day. The Cheesecake Factory traded down ($0.29) for the day and closed at $44.92
CAKE has been the subject of several recent analyst reports. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $65.00 target price on shares of The Cheesecake Factory in a research note on Wednesday, July 26th. BidaskClub cut shares of The Cheesecake Factory from a “sell” rating to a “strong sell” rating in a report on Thursday, July 27th. Maxim Group reiterated a “buy” rating and issued a $57.00 price target (down previously from $65.00) on shares of The Cheesecake Factory in a report on Thursday, August 3rd. Nomura reduced their price target on shares of The Cheesecake Factory from $50.00 to $44.00 and set a “neutral” rating for the company in a report on Thursday, August 3rd. Finally, Barclays PLC reiterated an “equal weight” rating and issued a $48.00 price target (down previously from $53.00) on shares of The Cheesecake Factory in a report on Thursday, August 3rd. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $48.00.
The stock has a market cap of $2,069.95, a price-to-earnings ratio of 16.56, a price-to-earnings-growth ratio of 1.21 and a beta of 0.29. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.37 and a current ratio of 0.51.
The Cheesecake Factory (NASDAQ:CAKE) last announced its earnings results on Wednesday, November 1st. The restaurant operator reported $0.56 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.60 by ($0.04). The Cheesecake Factory had a return on equity of 21.65% and a net margin of 5.76%. The business had revenue of $555.40 million for the quarter, compared to analyst estimates of $566.09 million. During the same quarter in the previous year, the company posted $0.70 EPS. The business’s revenue for the quarter was down .8% compared to the same quarter last year. research analysts predict that The Cheesecake Factory Incorporated will post 2.61 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 28th. Investors of record on Wednesday, November 15th will be issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 2.58%. The ex-dividend date of this dividend is Tuesday, November 14th. The Cheesecake Factory’s payout ratio is 42.80%.
In related news, VP Debby R. Zurzolo sold 2,415 shares of the stock in a transaction on Thursday, November 9th. The shares were sold at an average price of $44.20, for a total transaction of $106,743.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Herbert Simon bought 25,000 shares of The Cheesecake Factory stock in a transaction that occurred on Monday, November 6th. The shares were acquired at an average price of $43.50 per share, with a total value of $1,087,500.00. The disclosure for this purchase can be found here. Corporate insiders own 8.40% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Tiedemann Wealth Management LLC boosted its holdings in The Cheesecake Factory by 22.9% during the third quarter. Tiedemann Wealth Management LLC now owns 17,347 shares of the restaurant operator’s stock worth $134,000 after purchasing an additional 3,237 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in The Cheesecake Factory by 17.6% during the second quarter. Victory Capital Management Inc. now owns 3,216 shares of the restaurant operator’s stock worth $162,000 after purchasing an additional 482 shares during the last quarter. Riverhead Capital Management LLC boosted its holdings in The Cheesecake Factory by 105.5% during the second quarter. Riverhead Capital Management LLC now owns 3,493 shares of the restaurant operator’s stock worth $176,000 after purchasing an additional 1,793 shares during the last quarter. Raymond James Financial Services Advisors Inc. acquired a new position in The Cheesecake Factory during the second quarter worth $205,000. Finally, LS Investment Advisors LLC boosted its holdings in The Cheesecake Factory by 17.0% during the second quarter. LS Investment Advisors LLC now owns 4,231 shares of the restaurant operator’s stock worth $213,000 after purchasing an additional 615 shares during the last quarter. Institutional investors and hedge funds own 99.31% of the company’s stock.
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The Cheesecake Factory Company Profile
The Cheesecake Factory Incorporated is engaged in the restaurant and bakery business. As of March 2, 2017, the Company operated 208 Company-owned restaurants: 194 under The Cheesecake Factory mark, 13 under the Grand Lux Cafe mark and one under the Rock Sugar Pan Asian Kitchen mark. The Company’s segments include The Cheesecake Factory restaurants, and other.
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