Legato Capital Management LLC boosted its holdings in shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE) by 36.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 21,634 shares of the restaurant operator’s stock after purchasing an additional 5,836 shares during the period. Legato Capital Management LLC’s holdings in The Cheesecake Factory were worth $912,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. BlackRock Inc. increased its holdings in The Cheesecake Factory by 21,381.3% during the 1st quarter. BlackRock Inc. now owns 4,842,308 shares of the restaurant operator’s stock valued at $306,812,000 after purchasing an additional 4,819,766 shares during the period. Vanguard Group Inc. grew its holdings in shares of The Cheesecake Factory by 3.6% during the 2nd quarter. Vanguard Group Inc. now owns 4,171,917 shares of the restaurant operator’s stock worth $209,847,000 after acquiring an additional 146,756 shares during the period. Kayne Anderson Rudnick Investment Management LLC grew its holdings in shares of The Cheesecake Factory by 11.3% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,587,785 shares of the restaurant operator’s stock worth $79,866,000 after acquiring an additional 161,779 shares during the period. State Street Corp grew its holdings in shares of The Cheesecake Factory by 4.3% during the 2nd quarter. State Street Corp now owns 1,526,476 shares of the restaurant operator’s stock worth $76,779,000 after acquiring an additional 63,301 shares during the period. Finally, Macquarie Group Ltd. grew its holdings in shares of The Cheesecake Factory by 18.4% during the 2nd quarter. Macquarie Group Ltd. now owns 1,351,873 shares of the restaurant operator’s stock worth $67,999,000 after acquiring an additional 209,711 shares during the period. Institutional investors own 97.52% of the company’s stock.

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The Cheesecake Factory (NASDAQ:CAKE) last released its quarterly earnings data on Wednesday, November 1st. The restaurant operator reported $0.56 earnings per share for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.04). The Cheesecake Factory had a net margin of 5.76% and a return on equity of 21.65%. The firm had revenue of $555.40 million during the quarter, compared to analysts’ expectations of $566.09 million. During the same period in the previous year, the firm posted $0.70 EPS. The firm’s quarterly revenue was down .8% on a year-over-year basis.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 28th. Shareholders of record on Wednesday, November 15th will be issued a $0.29 dividend. The ex-dividend date of this dividend is Tuesday, November 14th. This represents a $1.16 dividend on an annualized basis and a yield of 2.68%. The Cheesecake Factory’s payout ratio is 42.80%.

A number of research firms have weighed in on CAKE. Barclays PLC reiterated an “equal weight” rating and set a $48.00 target price (down previously from $53.00) on shares of The Cheesecake Factory in a report on Wednesday, August 9th. Robert W. Baird set a $49.00 price target on The Cheesecake Factory and gave the stock a “hold” rating in a research report on Thursday, August 3rd. Maxim Group dropped their price target on The Cheesecake Factory from $57.00 to $54.00 and set a “buy” rating on the stock in a research report on Thursday. BTIG Research reissued a “buy” rating and issued a $50.00 price target on shares of The Cheesecake Factory in a research report on Wednesday, September 20th. Finally, Nomura dropped their price target on The Cheesecake Factory from $44.00 to $43.00 and set a “neutral” rating on the stock in a research report on Friday, October 27th. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have assigned a buy rating to the stock. The Cheesecake Factory currently has an average rating of “Hold” and a consensus target price of $49.41.

About The Cheesecake Factory

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

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