Prospera Financial Services Inc Makes New Investment in The Cheesecake Factory Incorporated (NASDAQ:CAKE)

Prospera Financial Services Inc purchased a new position in shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE – Get Rating) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 3,671 shares of the restaurant operator’s stock, valued at approximately $146,000.

Other large investors have also recently made changes to their positions in the company. New York State Teachers Retirement System boosted its holdings in Cheesecake Factory by 0.4% in the first quarter. New York State Teachers Retirement System now owns 72,203 shares of the restaurant operator’s stock valued at $2,873,000 after acquiring an additional 300 shares in the last quarter. Mutual of America Capital Management LLC boosted its holdings in Cheesecake Factory by 5.5% in the first quarter. Mutual of America Capital Management LLC now owns 6,991 shares of the restaurant operator’s stock valued at $278,000 after acquiring an additional 363 shares in the last quarter. Profund Advisors LLC boosted its holdings in shares of Cheesecake Factory by 7.8% during the 4th quarter. Profund Advisors LLC now owns 5,338 shares of the restaurant operator’s stock valued at $209,000 after buying an additional 385 shares in the last quarter. DAVENPORT & Co LLC boosted its holdings in shares of Cheesecake Factory by 1.2% during the 1st quarter. DAVENPORT & Co LLC now owns 34,211 shares of the restaurant operator’s stock valued at $1,361,000 after buying an additional 414 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC boosted its holdings in shares of Cheesecake Factory by 12.9% during the 1st quarter. Steward Partners Investment Advisory LLC now owns 4,036 shares of the restaurant operator’s stock valued at $161,000 after buying an additional 461 shares in the last quarter. 87.42% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CAKE has been the topic of a number of research reports. UBS Group dropped their target price on shares of Cheesecake Factory from $42.00 to $30.00 and set a “neutral” rating on the stock in a report on Tuesday, July 26th. Morgan Stanley dropped their target price on shares of Cheesecake Factory from $37.00 to $26.00 and set an “underweight” rating on the stock in a report on Monday, July 18th. Piper Sandler dropped their target price on shares of Cheesecake Factory from $38.00 to $30.00 and set a “neutral” rating on the stock in a report on Monday, July 11th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Cheesecake Factory from $35.00 to $31.00 in a report on Thursday, July 28th. Finally, Citigroup boosted their target price on shares of Cheesecake Factory from $39.00 to $40.00 in a report on Thursday, July 28th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Cheesecake Factory currently has a consensus rating of “Hold” and a consensus price target of $43.31.

Cheesecake Factory Price Performance

Shares of NASDAQ:CAKE opened at $29.96 on Friday. The Cheesecake Factory Incorporated has a fifty-two week low of $26.05 and a fifty-two week high of $51.19. The business has a 50-day simple moving average of $29.00 and a two-hundred day simple moving average of $34.21. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.54 and a current ratio of 0.63. The firm has a market cap of $1.58 billion, a price-to-earnings ratio of 18.38, a price-to-earnings-growth ratio of 1.61 and a beta of 1.45.

Cheesecake Factory (NASDAQ:CAKE – Get Rating) last issued its earnings results on Wednesday, July 27th. The restaurant operator reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.27). The business had revenue of $832.60 million during the quarter, compared to analysts’ expectations of $836.64 million. Cheesecake Factory had a return on equity of 31.69% and a net margin of 2.65%. Cheesecake Factory’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same period last year, the firm posted $0.80 EPS. On average, analysts expect that The Cheesecake Factory Incorporated will post 2.13 earnings per share for the current year.

Cheesecake Factory Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 23rd. Shareholders of record on Wednesday, August 10th will be paid a dividend of $0.27 per share. The ex-dividend date is Tuesday, August 9th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 3.60%. Cheesecake Factory’s dividend payout ratio is currently 66.26%.

About Cheesecake Factory

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The Cheesecake Factory Incorporated operates restaurants. It operates two bakeries that produces cheesecakes and other baked products for its restaurants, international licensees, third-party bakery customers, external foodservice operators, retailers, and distributors. The company owns and operates 306 restaurants throughout the United States and Canada under brands, including 208 The Cheesecake Factory and 29 North Italia; and a collection of Fox Restaurant Concepts, as well as 29 The Cheesecake Factory restaurants under licensing agreements internationally.