Mirae Asset Global Investments Co. Ltd. Purchases 498 Shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE)

Mirae Asset Global Investments Co. Ltd. boosted its position in The Cheesecake Factory Incorporated (NASDAQ:CAKE) by 2.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 22,140 shares of the restaurant operator’s stock after purchasing an additional 498 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Cheesecake Factory were worth $775,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Studio Investment Management LLC bought a new stake in Cheesecake Factory in the third quarter worth about $25,000. DekaBank Deutsche Girozentrale bought a new stake in Cheesecake Factory in the third quarter worth about $70,000. Hsbc Holdings PLC bought a new stake in Cheesecake Factory in the third quarter worth about $211,000. Versor Investments LP bought a new stake in Cheesecake Factory in the third quarter worth about $261,000. Finally, Seven Eight Capital LP bought a new stake in Cheesecake Factory in the third quarter worth about $275,000. Institutional investors own 94.48% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Piper Sandler lifted their price target on shares of Cheesecake Factory from $33.00 to $37.00 and gave the company a “neutral” rating in a research note on Thursday, February 22nd. Oppenheimer reaffirmed a “market perform” rating on shares of Cheesecake Factory in a research note on Thursday, February 22nd. Barclays lifted their price target on shares of Cheesecake Factory from $32.00 to $33.00 and gave the company an “underweight” rating in a research note on Thursday, February 22nd. Stephens reaffirmed an “overweight” rating and set a $44.00 price target on shares of Cheesecake Factory in a research note on Friday, April 12th. Finally, JPMorgan Chase & Co. downgraded shares of Cheesecake Factory from a “neutral” rating to an “underweight” rating and set a $33.00 price target for the company. in a research note on Tuesday, January 23rd. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $35.64.

Cheesecake Factory Price Performance

NASDAQ CAKE opened at $35.30 on Thursday. The firm’s fifty day simple moving average is $35.30 and its two-hundred day simple moving average is $33.69. The company has a current ratio of 0.46, a quick ratio of 0.37 and a debt-to-equity ratio of 1.48. The Cheesecake Factory Incorporated has a 12-month low of $28.58 and a 12-month high of $38.19. The firm has a market capitalization of $1.80 billion, a P/E ratio of 17.14, a P/E/G ratio of 1.09 and a beta of 1.48.

Cheesecake Factory (NASDAQ:CAKE) last posted its quarterly earnings data on Wednesday, February 21st. The restaurant operator reported $0.80 EPS for the quarter, topping the consensus estimate of $0.73 by $0.07. Cheesecake Factory had a net margin of 2.95% and a return on equity of 41.66%. The business had revenue of $877.00 million during the quarter, compared to the consensus estimate of $876.17 million. During the same period in the previous year, the firm posted $0.56 earnings per share. The business’s revenue for the quarter was down 1.8% compared to the same quarter last year. Analysts forecast that The Cheesecake Factory Incorporated will post 3.07 EPS for the current fiscal year.

Cheesecake Factory Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 19th. Stockholders of record on Wednesday, March 6th were paid a dividend of $0.27 per share. The ex-dividend date of this dividend was Tuesday, March 5th. This represents a $1.08 annualized dividend and a dividend yield of 3.06%. Cheesecake Factory’s payout ratio is currently 52.43%.

Cheesecake Factory Profile

The Cheesecake Factory Incorporated operates and licenses restaurants in the United States and Canada. The company operates bakeries that produce cheesecakes and other baked products for its restaurants, international licensees, third-party bakery customers, external foodservice operators, retailers, and distributors.