Intech Investment Management LLC Purchases 33,936 Shares of The Cheesecake Factory Incorporated $CAKE

Intech Investment Management LLC lifted its position in shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE) by 127.7% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 60,513 shares of the restaurant operator’s stock after purchasing an additional 33,936 shares during the quarter. Intech Investment Management LLC’s holdings in Cheesecake Factory were worth $3,055,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC boosted its position in shares of Cheesecake Factory by 183.6% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 133,921 shares of the restaurant operator’s stock valued at $7,072,000 after purchasing an additional 86,705 shares in the last quarter. Fisher Asset Management LLC boosted its position in shares of Cheesecake Factory by 7.2% during the fourth quarter. Fisher Asset Management LLC now owns 503,184 shares of the restaurant operator’s stock valued at $25,401,000 after purchasing an additional 33,959 shares in the last quarter. 44 Wealth Management LLC bought a new stake in shares of Cheesecake Factory during the third quarter valued at approximately $1,366,000. American Century Companies Inc. boosted its position in shares of Cheesecake Factory by 5.6% during the third quarter. American Century Companies Inc. now owns 1,800,388 shares of the restaurant operator’s stock valued at $98,373,000 after purchasing an additional 96,074 shares in the last quarter. Finally, Picton Mahoney Asset Management boosted its position in shares of Cheesecake Factory by 60,948.4% during the third quarter. Picton Mahoney Asset Management now owns 18,925 shares of the restaurant operator’s stock valued at $1,035,000 after purchasing an additional 18,894 shares in the last quarter. 94.48% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

CAKE has been the topic of several research reports. JPMorgan Chase & Co. upgraded Cheesecake Factory from an “underweight” rating to a “neutral” rating and lifted their price target for the company from $58.00 to $68.00 in a research report on Thursday, May 14th. Argus set a $72.00 target price on Cheesecake Factory in a report on Friday, May 1st. Wells Fargo & Company boosted their target price on Cheesecake Factory from $60.00 to $65.00 and gave the stock an “equal weight” rating in a report on Thursday, April 30th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $68.00 target price on shares of Cheesecake Factory in a report on Thursday, April 30th. Finally, Stephens boosted their target price on Cheesecake Factory from $61.00 to $65.00 and gave the stock an “equal weight” rating in a report on Thursday, April 30th. Six research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $64.94.

Cheesecake Factory Trading Down 2.1%

Cheesecake Factory stock opened at $64.49 on Wednesday. The company has a current ratio of 0.59, a quick ratio of 0.53 and a debt-to-equity ratio of 1.22. The business’s fifty day simple moving average is $59.86 and its two-hundred day simple moving average is $56.97. The Cheesecake Factory Incorporated has a 12 month low of $43.07 and a 12 month high of $69.70. The company has a market capitalization of $3.20 billion, a price-to-earnings ratio of 18.86, a price-to-earnings-growth ratio of 1.58 and a beta of 1.04.

Cheesecake Factory (NASDAQ:CAKE) last released its earnings results on Wednesday, April 29th. The restaurant operator reported $1.05 EPS for the quarter, topping the consensus estimate of $1.03 by $0.02. Cheesecake Factory had a return on equity of 43.74% and a net margin of 4.34%.The business had revenue of $978.83 million for the quarter, compared to the consensus estimate of $964.57 million. During the same period in the previous year, the company posted $0.93 earnings per share. The company’s revenue for the quarter was up 5.6% compared to the same quarter last year. As a group, equities analysts predict that The Cheesecake Factory Incorporated will post 4.01 earnings per share for the current fiscal year.

Cheesecake Factory Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 26th. Stockholders of record on Wednesday, May 13th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend was Wednesday, May 13th. Cheesecake Factory’s dividend payout ratio is presently 35.09%.

Insiders Place Their Bets

In other news, EVP Scarlett May sold 5,206 shares of the company’s stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $62.95, for a total transaction of $327,717.70. Following the transaction, the executive vice president directly owned 25,715 shares of the company’s stock, valued at $1,618,759.25. This represents a 16.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Chairman David Overton sold 104,000 shares of the company’s stock in a transaction on Friday, May 1st. The shares were sold at an average price of $61.02, for a total value of $6,346,080.00. Following the transaction, the chairman directly owned 3,079,779 shares in the company, valued at approximately $187,928,114.58. The trade was a 3.27% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 8.00% of the company’s stock.

Cheesecake Factory Company Profile

The Cheesecake Factory Incorporated (NASDAQ:CAKE) is an American restaurant company and distributor renowned for its full-service casual-dining concept and specialty cheesecakes. Headquartered in Calabasas Hills, California, the company operates more than 200 restaurants under The Cheesecake Factory® brand across the United States, Puerto Rico and select international markets. In addition to sit-down dining, Cheesecake Factory franchised locations offer catering and take-out services, while a separate manufacturing arm supplies branded cheesecakes and desserts to supermarkets, hotels and other foodservice operators.

The origins of the brand trace back to a small cheesecake bakery founded in Detroit in the 1940s.