Great West Life Assurance Co. Can Decreases Position in The Cheesecake Factory Incorporated (NASDAQ:CAKE)

06 Dec 2023, 10:00 by Tristan Rich · The Markets Daily

Great West Life Assurance Co. Can decreased its holdings in shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE – Free Report) by 9.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 42,717 shares of the restaurant operator’s stock after selling 4,670 shares during the quarter. Great West Life Assurance Co. Can owned approximately 0.08% of Cheesecake Factory worth $1,477,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in Cheesecake Factory by 2.0% during the first quarter. Vanguard Group Inc. now owns 5,387,902 shares of the restaurant operator’s stock worth $214,385,000 after purchasing an additional 107,399 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its stake in Cheesecake Factory by 0.6% during the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,799,304 shares of the restaurant operator’s stock worth $133,166,000 after purchasing an additional 21,505 shares during the last quarter. State Street Corp lifted its stake in Cheesecake Factory by 0.7% during the third quarter. State Street Corp now owns 1,751,453 shares of the restaurant operator’s stock worth $51,283,000 after purchasing an additional 12,578 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Cheesecake Factory by 1.5% during the second quarter. Dimensional Fund Advisors LP now owns 1,178,874 shares of the restaurant operator’s stock worth $40,765,000 after purchasing an additional 16,901 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in Cheesecake Factory by 3.7% in the first quarter. Geode Capital Management LLC now owns 931,554 shares of the restaurant operator’s stock valued at $32,651,000 after buying an additional 32,958 shares during the last quarter. Hedge funds and other institutional investors own 88.68% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on CAKE. William Blair reiterated an “outperform” rating on shares of Cheesecake Factory in a research note on Thursday, November 2nd. Barclays reduced their price objective on Cheesecake Factory from $28.00 to $26.00 and set an “underweight” rating for the company in a research note on Thursday, November 2nd. Piper Sandler reduced their price objective on Cheesecake Factory from $36.00 to $33.00 and set a “neutral” rating for the company in a research note on Thursday, November 2nd. TheStreet cut Cheesecake Factory from a “b-” rating to a “c+” rating in a research note on Monday, October 30th. Finally, Bank of America started coverage on Cheesecake Factory in a research note on Thursday, October 5th. They issued a “neutral” rating and a $33.00 price objective for the company. Four research analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $33.93.

Get Our Latest Report on Cheesecake Factory

Cheesecake Factory Trading Down 2.3 %

Shares of CAKE stock opened at $32.25 on Wednesday. The business’s fifty day moving average price is $30.96 and its 200 day moving average price is $32.54. The Cheesecake Factory Incorporated has a 1-year low of $28.58 and a 1-year high of $41.28. The firm has a market capitalization of $1.64 billion, a PE ratio of 18.64, a P/E/G ratio of 0.64 and a beta of 1.42. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.44 and a quick ratio of 0.35.

Cheesecake Factory (NASDAQ:CAKE – Get Free Report) last announced its quarterly earnings results on Wednesday, November 1st. The restaurant operator reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.03). Cheesecake Factory had a net margin of 2.47% and a return on equity of 38.79%. The firm had revenue of $830.20 million during the quarter, compared to analysts’ expectations of $842.63 million. During the same quarter in the prior year, the business earned ($0.03) EPS. The company’s quarterly revenue was up 5.9% compared to the same quarter last year. As a group, sell-side analysts forecast that The Cheesecake Factory Incorporated will post 2.62 EPS for the current fiscal year.

Cheesecake Factory Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 28th. Stockholders of record on Wednesday, November 15th were given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 3.35%. The ex-dividend date of this dividend was Tuesday, November 14th. Cheesecake Factory’s dividend payout ratio is currently 62.43%.

Cheesecake Factory Profile

(Free Report)

The Cheesecake Factory Incorporated engages in restaurant business. The company 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. It also operates restaurants in the United States and Canada under brands comprising The Cheesecake Factory, North Italia, and a collection of Fox Restaurant Concepts, as well as The Cheesecake Factory restaurants under licensing agreements internationally.

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