Rice Hall James & Associates LLC raised its position in shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE) by 23.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 408,952 shares of the restaurant operator’s stock after buying an additional 76,605 shares during the period. Rice Hall James & Associates LLC’s holdings in The Cheesecake Factory were worth $20,570,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in CAKE. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in The Cheesecake Factory by 32.2% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,621 shares of the restaurant operator’s stock worth $103,000 after buying an additional 395 shares during the last quarter. Parallel Advisors LLC raised its stake in The Cheesecake Factory by 13.5% in the first quarter. Parallel Advisors LLC now owns 1,974 shares of the restaurant operator’s stock worth $132,000 after buying an additional 235 shares during the last quarter. TrimTabs Asset Management LLC raised its stake in The Cheesecake Factory by 89.0% in the first quarter. TrimTabs Asset Management LLC now owns 2,056 shares of the restaurant operator’s stock worth $130,000 after buying an additional 968 shares during the last quarter. Tyers Asset Management LLC raised its stake in The Cheesecake Factory by 1.1% in the first quarter. Tyers Asset Management LLC now owns 2,112 shares of the restaurant operator’s stock worth $134,000 after buying an additional 22 shares during the last quarter. Finally, Flinton Capital Management LLC raised its stake in The Cheesecake Factory by 1.1% in the first quarter. Flinton Capital Management LLC now owns 2,688 shares of the restaurant operator’s stock worth $170,000 after buying an additional 28 shares during the last quarter. Institutional investors own 96.40% of the company’s stock.

The Cheesecake Factory Incorporated (NASDAQ CAKE) opened at 44.94 on Friday. The Cheesecake Factory Incorporated has a 52-week low of $44.02 and a 52-week high of $67.14. The firm’s 50-day moving average is $48.76 and its 200 day moving average is $57.67. The firm has a market capitalization of $2.07 billion, a P/E ratio of 15.72 and a beta of 0.31.

The Cheesecake Factory (NASDAQ:CAKE) last released its quarterly earnings data on Wednesday, August 2nd. The restaurant operator reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.02. The company had revenue of $569.87 million for the quarter, compared to analyst estimates of $573.12 million. The Cheesecake Factory had a net margin of 6.10% and a return on equity of 22.92%. The Cheesecake Factory’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.78 EPS. Equities analysts anticipate that The Cheesecake Factory Incorporated will post $2.67 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 29th. Stockholders of record on Wednesday, August 16th will be paid a dividend of $0.29 per share. The ex-dividend date is Monday, August 14th. This is a positive change from The Cheesecake Factory’s previous quarterly dividend of $0.24. This represents a $1.16 annualized dividend and a dividend yield of 2.58%. The Cheesecake Factory’s payout ratio is currently 33.68%.

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A number of research firms have recently issued reports on CAKE. Instinet restated a “neutral” rating and issued a $44.00 target price (down previously from $50.00) on shares of The Cheesecake Factory in a report on Thursday, August 3rd. Barclays PLC restated an “equal weight” rating and issued a $48.00 target price (down previously from $53.00) on shares of The Cheesecake Factory in a report on Wednesday. Stephens restated an “equal weight” rating and issued a $48.00 target price (down previously from $55.00) on shares of The Cheesecake Factory in a report on Wednesday. Maxim Group restated a “buy” rating and issued a $57.00 target price (down previously from $65.00) on shares of The Cheesecake Factory in a report on Wednesday. Finally, Nomura reduced their target price on The Cheesecake Factory from $50.00 to $44.00 and set a “neutral” rating for the company in a report on Thursday, August 3rd. Three investment 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 Cheesecake Factory currently has a consensus rating of “Hold” and an average target price of $54.78.

In other news, VP Debby R. Zurzolo sold 6,424 shares of the business’s stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $59.09, for a total transaction of $379,594.16. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 8.50% of the stock is owned by insiders.

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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