Principal Financial Group Inc. Cuts Stake in The Cheesecake Factory Incorporated (CAKE)
Principal Financial Group Inc. lowered its stake in The Cheesecake Factory Incorporated (NASDAQ:CAKE) by 1.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 216,801 shares of the restaurant operator’s stock after selling 2,450 shares during the quarter. Principal Financial Group Inc. owned about 0.47% of The Cheesecake Factory worth $9,131,000 as of its most recent filing with the SEC.
Other hedge funds also recently bought and sold shares of the company. Victory Capital Management Inc. grew its stake in shares of The Cheesecake Factory by 17.6% in the second quarter. Victory Capital Management Inc. now owns 3,216 shares of the restaurant operator’s stock valued at $162,000 after buying an additional 482 shares in the last quarter. Riverhead Capital Management LLC grew its stake in shares of The Cheesecake Factory by 105.5% in the second quarter. Riverhead Capital Management LLC now owns 3,493 shares of the restaurant operator’s stock valued at $176,000 after buying an additional 1,793 shares in the last quarter. Raymond James Financial Services Advisors Inc. acquired a new stake in shares of The Cheesecake Factory in the second quarter valued at about $205,000. BlueMountain Capital Management LLC acquired a new stake in shares of The Cheesecake Factory in the second quarter valued at about $243,000. Finally, Advisors Asset Management Inc. grew its stake in shares of The Cheesecake Factory by 7.1% in the second quarter. Advisors Asset Management Inc. now owns 4,834 shares of the restaurant operator’s stock valued at $243,000 after buying an additional 320 shares in the last quarter. Institutional investors and hedge funds own 97.55% of the company’s stock.
CAKE has been the subject of a number of recent research reports. Nomura lowered their target price on The Cheesecake Factory from $44.00 to $43.00 and set a “neutral” rating for the company in a research note on Friday, October 27th. TheStreet lowered The Cheesecake Factory from a “b-” rating to a “c+” rating in a research note on Friday, August 25th. Maxim Group restated a “buy” rating and set a $57.00 price objective on shares of The Cheesecake Factory in a research note on Tuesday, September 12th. Robert W. Baird restated a “hold” rating and set a $49.00 price objective on shares of The Cheesecake Factory in a research note on Friday, September 8th. Finally, Zacks Investment Research upgraded The Cheesecake Factory from a “sell” rating to a “hold” rating in a research note on Friday, October 27th. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have issued a buy rating to the company. The Cheesecake Factory has a consensus rating of “Hold” and a consensus target price of $48.00.
In other news, VP Debby R. Zurzolo sold 2,415 shares of The Cheesecake Factory stock in a transaction that occurred on Thursday, November 9th. The stock was sold at an average price of $44.20, for a total value of $106,743.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Herbert Simon bought 25,000 shares of the firm’s stock in a transaction dated Monday, November 6th. The stock was purchased 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. 8.40% of the stock is currently owned by company insiders.
Shares of The Cheesecake Factory Incorporated (CAKE) opened at $49.61 on Wednesday. The Cheesecake Factory Incorporated has a 12 month low of $38.34 and a 12 month high of $67.14. The company has a current ratio of 0.51, a quick ratio of 0.37 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $2,269.12, a P/E ratio of 18.15, a price-to-earnings-growth ratio of 1.32 and a beta of 0.33.
The Cheesecake Factory (NASDAQ:CAKE) last issued its earnings results on Wednesday, November 1st. The restaurant operator reported $0.56 EPS for the quarter, missing the consensus estimate of $0.60 by ($0.04). The firm had revenue of $555.40 million during the quarter, compared to analyst estimates of $566.09 million. The Cheesecake Factory had a return on equity of 21.65% and a net margin of 5.76%. The Cheesecake Factory’s revenue was down .8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.70 EPS. equities research analysts forecast that The Cheesecake Factory Incorporated will post 2.6 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, November 28th. Stockholders of record on Wednesday, November 15th were given a $0.29 dividend. The ex-dividend date was Tuesday, November 14th. This represents a $1.16 annualized dividend and a dividend yield of 2.34%. The Cheesecake Factory’s payout ratio is 42.80%.
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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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