Two Sigma Advisers LP Reduces Position in Cheesecake Factory Inc (CAKE)
Two Sigma Advisers LP lowered its stake in shares of Cheesecake Factory Inc (NASDAQ:CAKE) by 26.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 302,913 shares of the restaurant operator’s stock after selling 108,900 shares during the quarter. Two Sigma Advisers LP owned about 0.66% of Cheesecake Factory worth $14,594,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in the stock. Bank of New York Mellon Corp boosted its stake in Cheesecake Factory by 4.5% during the fourth quarter. Bank of New York Mellon Corp now owns 1,729,444 shares of the restaurant operator’s stock worth $83,324,000 after buying an additional 74,729 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Cheesecake Factory by 8.8% during the third quarter. Dimensional Fund Advisors LP now owns 1,322,377 shares of the restaurant operator’s stock worth $55,698,000 after buying an additional 106,475 shares in the last quarter. Deutsche Bank AG boosted its stake in Cheesecake Factory by 62.3% during the fourth quarter. Deutsche Bank AG now owns 1,006,212 shares of the restaurant operator’s stock worth $48,478,000 after buying an additional 386,415 shares in the last quarter. Bamco Inc. NY boosted its stake in shares of Cheesecake Factory by 42.3% in the 3rd quarter. Bamco Inc. NY now owns 925,000 shares of the restaurant operator’s stock valued at $38,961,000 after purchasing an additional 275,000 shares in the last quarter. Finally, Epoch Investment Partners Inc. boosted its stake in shares of Cheesecake Factory by 207.7% in the 3rd quarter. Epoch Investment Partners Inc. now owns 734,252 shares of the restaurant operator’s stock valued at $30,926,000 after purchasing an additional 495,642 shares in the last quarter. 97.62% of the stock is currently owned by institutional investors and hedge funds.
Shares of Cheesecake Factory stock opened at $47.94 on Thursday. The company has a debt-to-equity ratio of 0.02, a current ratio of 0.52 and a quick ratio of 0.42. The company has a market capitalization of $2,223.38, a PE ratio of 18.70, a PEG ratio of 1.23 and a beta of 0.37. Cheesecake Factory Inc has a 52 week low of $38.34 and a 52 week high of $67.14.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 20th. Investors of record on Wednesday, February 28th were given a $0.29 dividend. The ex-dividend date of this dividend was Tuesday, February 27th. This represents a $1.16 annualized dividend and a dividend yield of 2.42%. Cheesecake Factory’s dividend payout ratio is presently 35.26%.
In related news, insider Cheryl Slomann sold 5,500 shares of the business’s stock in a transaction that occurred on Monday, March 12th. The stock was sold at an average price of $49.87, for a total value of $274,285.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 8.40% of the stock is currently owned by insiders.
CAKE has been the topic of several recent analyst reports. TheStreet upgraded shares of Cheesecake Factory from a “c+” rating to a “b” rating in a research note on Friday, January 5th. Zacks Investment Research raised Cheesecake Factory from a “hold” rating to a “buy” rating and set a $53.00 price target for the company in a report on Tuesday, February 6th. BTIG Research lifted their price target on Cheesecake Factory to $55.00 and gave the company a “buy” rating in a report on Thursday, February 22nd. Morgan Stanley reaffirmed an “equal weight” rating and issued a $49.00 price target (down from $50.00) on shares of Cheesecake Factory in a report on Thursday, February 22nd. Finally, Barclays reaffirmed an “equal weight” rating and issued a $47.00 price target (up from $43.00) on shares of Cheesecake Factory in a report on Tuesday, January 16th. Two analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $48.18.
Cheesecake Factory 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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