US Bancorp DE Decreases Position in The Cheesecake Factory Incorporated (NASDAQ:CAKE)
US Bancorp DE reduced its stake in shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE) by 11.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 13,253 shares of the restaurant operator’s stock after selling 1,636 shares during the period. US Bancorp DE’s holdings in The Cheesecake Factory were worth $667,000 as of its most recent SEC filing.
Several other large investors have also bought and sold shares of the stock. Waratah Capital Advisors Ltd. acquired a new stake in The Cheesecake Factory during the first quarter valued at $4,628,000. Nordea Investment Management AB raised its position in shares of The Cheesecake Factory by 15.5% in the first quarter. Nordea Investment Management AB now owns 25,505 shares of the restaurant operator’s stock worth $1,616,000 after buying an additional 3,419 shares during the last quarter. Hendershot Investments Inc. raised its position in shares of The Cheesecake Factory by 4.3% in the second quarter. Hendershot Investments Inc. now owns 69,805 shares of the restaurant operator’s stock worth $3,511,000 after buying an additional 2,865 shares during the last quarter. Marshall Wace North America L.P. purchased a new position in shares of The Cheesecake Factory during the first quarter worth approximately $1,644,000. Finally, Louisiana State Employees Retirement System raised its position in shares of The Cheesecake Factory by 2.8% in the first quarter. Louisiana State Employees Retirement System now owns 11,200 shares of the restaurant operator’s stock worth $710,000 after buying an additional 300 shares during the last quarter. 95.16% of the stock is owned by institutional investors.
Shares of The Cheesecake Factory Incorporated (CAKE) traded up 0.90% during mid-day trading on Monday, hitting $44.91. The stock had a trading volume of 228,384 shares. The stock’s 50-day moving average price is $48.62 and its 200 day moving average price is $57.57. The company has a market capitalization of $2.07 billion, a P/E ratio of 15.71 and a beta of 0.31. The Cheesecake Factory Incorporated has a 1-year low of $44.02 and a 1-year high of $67.14.
The Cheesecake Factory (NASDAQ:CAKE) last posted its quarterly earnings results on Wednesday, August 2nd. The restaurant operator reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.02. The Cheesecake Factory had a return on equity of 22.92% and a net margin of 6.10%. The company had revenue of $569.87 million during the quarter, compared to analysts’ expectations of $573.12 million. During the same quarter in the previous year, the firm earned $0.78 EPS. The Cheesecake Factory’s revenue was up 2.0% on a year-over-year basis. On average, analysts predict that The Cheesecake Factory Incorporated will post $2.67 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 29th. Stockholders of record on Wednesday, August 16th will be issued a dividend of $0.29 per share. The ex-dividend date of this dividend is Monday, August 14th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 2.59%. This is a boost from The Cheesecake Factory’s previous quarterly dividend of $0.24. The Cheesecake Factory’s payout ratio is 33.68%.
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CAKE has been the subject of a number of recent research reports. Argus lowered The Cheesecake Factory from a “buy” rating to a “hold” rating in a research note on Tuesday, June 20th. Zacks Investment Research lowered The Cheesecake Factory from a “hold” rating to a “sell” rating in a research note on Monday, May 8th. Barclays PLC cut their target price on The Cheesecake Factory from $56.00 to $53.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 19th. BidaskClub lowered The Cheesecake Factory from a “sell” rating to a “strong sell” rating in a research note on Thursday, July 27th. Finally, Nomura initiated coverage on The Cheesecake Factory in a research note on Wednesday, July 12th. They issued a “neutral” rating and a $50.00 target price for the company. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $54.78.
In other news, VP Debby R. Zurzolo sold 6,424 shares of the business’s stock in a transaction on Thursday, June 1st. The stock was sold at an average price of $59.09, for a total transaction of $379,594.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 8.50% of the stock is currently owned by insiders.
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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