Crestline Management LP bought a new position in shares of Cheesecake Factory Inc (NASDAQ:CAKE) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 29,195 shares of the restaurant operator’s stock, valued at approximately $1,407,000. Crestline Management LP owned 0.06% of Cheesecake Factory as of its most recent SEC filing.
Other institutional investors also recently made changes to their positions in the company. Sciencast Management LP bought a new stake in shares of Cheesecake Factory during the fourth quarter worth $300,000. Ladenburg Thalmann Financial Services Inc. boosted its holdings in Cheesecake Factory by 328.5% during the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,435 shares of the restaurant operator’s stock worth $214,000 after buying an additional 3,400 shares during the last quarter. Raymond James & Associates boosted its holdings in Cheesecake Factory by 9.9% during the fourth quarter. Raymond James & Associates now owns 70,996 shares of the restaurant operator’s stock worth $3,421,000 after buying an additional 6,379 shares during the last quarter. HPM Partners LLC bought a new position in Cheesecake Factory during the fourth quarter worth about $347,000. Finally, Stone Ridge Asset Management LLC bought a new position in Cheesecake Factory during the fourth quarter worth about $683,000. 97.62% of the stock is owned by hedge funds and other institutional investors.
A number of equities research analysts recently issued reports on the company. BidaskClub lowered Cheesecake Factory from a “hold” rating to a “sell” rating in a research report on Wednesday, March 14th. BTIG Research boosted their price target on Cheesecake Factory to $55.00 and gave the stock a “buy” rating in a research report on Thursday, February 22nd. Morgan Stanley reiterated an “equal weight” rating and set a $49.00 target price (down from $50.00) on shares of Cheesecake Factory in a research note on Thursday, February 22nd. Bank of America reduced their target price on Cheesecake Factory from $54.00 to $52.00 and set a “neutral” rating for the company in a research note on Thursday, February 22nd. Finally, Telsey Advisory Group downgraded Cheesecake Factory from an “outperform” rating to a “market perform” rating and set a $48.00 price target for the company. in a research note on Thursday, February 22nd. Two analysts have rated the stock with a sell rating, fifteen have issued a hold rating and three have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $48.18.
Cheesecake Factory stock traded down $0.65 during trading hours on Thursday, reaching $47.29. The company had a trading volume of 259,604 shares, compared to its average volume of 1,052,364. Cheesecake Factory Inc has a 12 month low of $38.34 and a 12 month high of $67.14. The company has a quick ratio of 0.42, a current ratio of 0.52 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $2,223.38, a price-to-earnings ratio of 14.57, a price-to-earnings-growth ratio of 1.23 and a beta of 0.37.
Cheesecake Factory (NASDAQ:CAKE) last released its quarterly earnings data on Wednesday, February 21st. The restaurant operator reported $0.53 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.53. The firm had revenue of $571.80 million for the quarter, compared to the consensus estimate of $567.80 million. Cheesecake Factory had a return on equity of 20.30% and a net margin of 6.96%. The company’s quarterly revenue was down 5.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.67 earnings per share. equities analysts predict that Cheesecake Factory Inc will post 2.73 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, March 20th. Stockholders of record on Wednesday, February 28th were given a $0.29 dividend. The ex-dividend date of this dividend was Tuesday, February 27th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 2.45%. Cheesecake Factory’s dividend payout ratio is currently 35.26%.
In related news, insider Cheryl Slomann sold 5,500 shares of the company’s stock in a transaction that occurred on Monday, March 12th. The stock was sold at an average price of $49.87, for a total value of $274,285.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 8.40% of the company’s stock.
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About 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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