SG Americas Securities LLC Cuts Stake in The Cheesecake Factory Incorporated (CAKE)
SG Americas Securities LLC decreased its holdings in The Cheesecake Factory Incorporated (NASDAQ:CAKE) by 29.5% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 12,966 shares of the restaurant operator’s stock after selling 5,436 shares during the period. SG Americas Securities LLC’s holdings in The Cheesecake Factory were worth $546,000 as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. Koch Industries Inc. purchased a new stake in shares of The Cheesecake Factory in the 2nd quarter valued at $353,000. Sciencast Management LP purchased a new stake in shares of The Cheesecake Factory in the 2nd quarter valued at $357,000. Kayne Anderson Rudnick Investment Management LLC boosted its stake in shares of The Cheesecake Factory by 11.3% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,587,785 shares of the restaurant operator’s stock valued at $79,866,000 after purchasing an additional 161,779 shares in the last quarter. Bridgewater Associates LP purchased a new stake in shares of The Cheesecake Factory in the 2nd quarter valued at $606,000. Finally, Long Road Investment Counsel LLC boosted its stake in shares of The Cheesecake Factory by 35.2% in the 2nd quarter. Long Road Investment Counsel LLC now owns 47,079 shares of the restaurant operator’s stock valued at $2,368,000 after purchasing an additional 12,260 shares in the last quarter. 97.55% of the stock is owned by institutional investors.
Several equities research analysts have weighed in on CAKE shares. Zacks Investment Research raised shares of The Cheesecake Factory from a “sell” rating to a “hold” rating in a research report on Thursday, November 2nd. Wedbush cut shares of The Cheesecake Factory from an “outperform” rating to a “neutral” rating and dropped their price target for the company from $52.00 to $44.00 in a research report on Tuesday, September 26th. BTIG Research reissued a “buy” rating and set a $50.00 price target on shares of The Cheesecake Factory in a research report on Wednesday, September 20th. Nomura dropped their price target on shares of The Cheesecake Factory from $44.00 to $43.00 and set a “neutral” rating for the company in a research report on Friday, October 27th. Finally, Maxim Group dropped their price target on shares of The Cheesecake Factory from $57.00 to $54.00 and set a “buy” rating for the company in a research report on Thursday, November 2nd. 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 presently has a consensus rating of “Hold” and a consensus price target of $48.00.
Shares of The Cheesecake Factory Incorporated (NASDAQ CAKE) opened at $48.49 on Monday. The Cheesecake Factory Incorporated has a 12-month low of $38.34 and a 12-month high of $67.14. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.51 and a quick ratio of 0.37. The company has a market cap of $2,220.11, a PE ratio of 17.76, a PEG ratio of 1.29 and a beta of 0.33.
The Cheesecake Factory (NASDAQ:CAKE) last posted its earnings results on Wednesday, November 1st. The restaurant operator reported $0.56 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.60 by ($0.04). The Cheesecake Factory had a return on equity of 21.65% and a net margin of 5.76%. The company had revenue of $555.40 million during the quarter, compared to analysts’ expectations of $566.09 million. During the same period in the prior year, the business posted $0.70 earnings per share. The company’s revenue for the quarter was down .8% on a year-over-year basis. research analysts predict that The Cheesecake Factory Incorporated will post 2.6 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 28th. Investors of record on Wednesday, November 15th were paid a $0.29 dividend. The ex-dividend date was Tuesday, November 14th. This represents a $1.16 annualized dividend and a dividend yield of 2.39%. The Cheesecake Factory’s payout ratio is 42.80%.
In other The Cheesecake Factory news, VP Debby R. Zurzolo sold 2,306 shares of the firm’s stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $44.75, for a total transaction of $103,193.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Herbert Simon acquired 25,000 shares of The Cheesecake Factory stock in a transaction on Monday, November 6th. The shares were purchased at an average price of $43.50 per share, with a total value of $1,087,500.00. The disclosure for this purchase can be found here. 8.40% of the stock is owned by company insiders.
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The 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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