The Cheesecake Factory Incorporated (NASDAQ:CAKE) Stake Raised by NGAM Advisors L.P.
NGAM Advisors L.P. boosted its stake in The Cheesecake Factory Incorporated (NASDAQ:CAKE) by 3.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 105,211 shares of the restaurant operator’s stock after buying an additional 3,648 shares during the period. NGAM Advisors L.P. owned about 0.23% of The Cheesecake Factory worth $5,292,000 as of its most recent filing with the SEC.
Other large investors have also recently added to or reduced their stakes in the company. Campbell & CO Investment Adviser LLC purchased a new stake in The Cheesecake Factory during the second quarter valued at about $746,000. ING Groep NV purchased a new stake in The Cheesecake Factory during the second quarter valued at about $273,000. Russell Investments Group Ltd. boosted its stake in The Cheesecake Factory by 0.6% in the second quarter. Russell Investments Group Ltd. now owns 72,247 shares of the restaurant operator’s stock valued at $3,634,000 after buying an additional 410 shares during the period. First Citizens Bank & Trust Co. purchased a new stake in The Cheesecake Factory during the second quarter valued at about $330,000. Finally, BB&T Corp boosted its stake in The Cheesecake Factory by 10.3% in the second quarter. BB&T Corp now owns 61,152 shares of the restaurant operator’s stock valued at $3,076,000 after buying an additional 5,719 shares during the period. 96.40% of the stock is owned by institutional investors and hedge funds.
Shares of The Cheesecake Factory Incorporated (NASDAQ CAKE) opened at 45.13 on Monday. The stock has a 50 day moving average of $50.13 and a 200-day moving average of $58.36. The stock has a market capitalization of $2.08 billion, a PE ratio of 15.79 and a beta of 0.31. The Cheesecake Factory Incorporated has a one year low of $44.02 and a one 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 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.76 by $0.02. The Cheesecake Factory had a net margin of 6.10% and a return on equity of 22.92%. The company had revenue of $569.87 million for the quarter, compared to the consensus estimate of $573.12 million. During the same period last year, the firm posted $0.78 EPS. The company’s revenue for the quarter was up 2.0% on a year-over-year basis. Equities analysts predict that The Cheesecake Factory Incorporated will post $2.67 earnings per share 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 given a $0.29 dividend. This is an increase from The Cheesecake Factory’s previous quarterly dividend of $0.24. This represents a $1.16 dividend on an annualized basis and a dividend yield of 2.57%. The ex-dividend date of this dividend is Monday, August 14th. The Cheesecake Factory’s dividend payout ratio (DPR) is presently 33.68%.
Several research firms have recently issued reports on CAKE. Canaccord Genuity reaffirmed a “hold” rating on shares of The Cheesecake Factory in a research report on Friday. Instinet reissued a “neutral” rating and issued a $44.00 price target (down from $50.00) on shares of The Cheesecake Factory in a research report on Thursday. Robert W. Baird set a $49.00 price target on shares of The Cheesecake Factory and gave the company a “hold” rating in a research report on Thursday. Barclays PLC reissued an “equal weight” rating and issued a $48.00 price target (down from $53.00) on shares of The Cheesecake Factory in a research report on Thursday. Finally, 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 research report on Thursday. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have given a buy rating to the company’s stock. The Cheesecake Factory presently has an average rating of “Hold” and a consensus price target of $55.18.
In other news, VP Debby R. Zurzolo sold 6,424 shares of the firm’s stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $59.09, for a total value of $379,594.16. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 8.50% of the company’s stock.
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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