River & Mercantile Asset Management LLP increased its stake in The Cheesecake Factory Incorporated (NASDAQ:CAKE – Get Rating) by 26.5% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 38,830 shares of the restaurant operator’s stock after acquiring an additional 8,130 shares during the quarter. River & Mercantile Asset Management LLP owned approximately 0.08% of Cheesecake Factory worth $1,137,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Millennium Management LLC boosted its position in shares of Cheesecake Factory by 2,369.2% in the 2nd quarter. Millennium Management LLC now owns 905,116 shares of the restaurant operator’s stock valued at $23,913,000 after purchasing an additional 868,460 shares during the period. Rockefeller Capital Management L.P. lifted its holdings in shares of Cheesecake Factory by 52,812.3% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 656,642 shares of the restaurant operator’s stock valued at $19,226,000 after buying an additional 655,401 shares during the last quarter. Samlyn Capital LLC acquired a new stake in shares of Cheesecake Factory during the 2nd quarter valued at about $10,018,000. Cubist Systematic Strategies LLC lifted its holdings in shares of Cheesecake Factory by 411.7% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 378,692 shares of the restaurant operator’s stock valued at $10,005,000 after buying an additional 304,683 shares during the last quarter. Finally, Comerica Bank lifted its holdings in shares of Cheesecake Factory by 742.6% during the 3rd quarter. Comerica Bank now owns 302,522 shares of the restaurant operator’s stock valued at $9,771,000 after buying an additional 266,620 shares during the last quarter. 88.67% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
CAKE has been the subject of several research reports. Citigroup lowered Cheesecake Factory from a “buy” rating to a “neutral” rating in a report on Tuesday, January 17th. Wedbush raised their price objective on Cheesecake Factory from $40.00 to $44.00 and gave the company a “neutral” rating in a research note on Thursday, February 23rd. The Goldman Sachs Group downgraded Cheesecake Factory from a “neutral” rating to a “sell” rating and cut their price objective for the company from $35.00 to $29.00 in a research note on Monday, December 12th. StockNews.com initiated coverage on Cheesecake Factory in a research note on Thursday. They issued a “hold” rating on the stock. Finally, Raymond James downgraded Cheesecake Factory from an “outperform” rating to a “market perform” rating in a research note on Tuesday, January 24th. Four research analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $35.67.
Cheesecake Factory Trading Up 1.4 %
Cheesecake Factory (NASDAQ:CAKE – Get Rating) last released its earnings results on Wednesday, February 22nd. The restaurant operator reported $0.56 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.56. The company had revenue of $892.80 million during the quarter, compared to the consensus estimate of $902.64 million. Cheesecake Factory had a return on equity of 22.89% and a net margin of 1.31%. The firm’s quarterly revenue was up 14.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.49 earnings per share. As a group, equities research analysts expect that The Cheesecake Factory Incorporated will post 2.81 EPS for the current year.
Cheesecake Factory Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 21st. Investors of record on Wednesday, March 8th will be issued a $0.27 dividend. The ex-dividend date is Tuesday, March 7th. This represents a $1.08 dividend on an annualized basis and a yield of 3.12%. Cheesecake Factory’s dividend payout ratio is presently 130.12%.
About Cheesecake Factory
Cheesecake Factory, Inc engages in the operation of restaurant chains. It operates through The Cheesecake Factory, North Italia, Other FRC and Other segments. The Cheesecake Factory segment offers appetizers, pizza, seafood, steaks, chicken, burgers, small plates, pastas, salads, sandwiches and omelettes, and a selection of gluten-free items.
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