APG Asset Management N.V. acquired a new stake in shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 100,400 shares of the restaurant operator’s stock, valued at approximately $4,229,000. APG Asset Management N.V. owned 0.22% of The Cheesecake Factory at the end of the most recent quarter.
A number of other institutional investors also recently modified their holdings of CAKE. Alps Advisors Inc. boosted its holdings in shares of The Cheesecake Factory by 0.3% during the 2nd quarter. Alps Advisors Inc. now owns 7,791 shares of the restaurant operator’s stock valued at $392,000 after buying an additional 20 shares in the last quarter. Bank of Montreal Can boosted its stake in The Cheesecake Factory by 0.5% in the 2nd quarter. Bank of Montreal Can now owns 5,152 shares of the restaurant operator’s stock worth $259,000 after purchasing an additional 24 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in The Cheesecake Factory by 0.4% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 6,510 shares of the restaurant operator’s stock worth $327,000 after purchasing an additional 26 shares in the last quarter. Northwestern Mutual Investment Management Company LLC raised its position in The Cheesecake Factory by 0.7% in the 2nd quarter. Northwestern Mutual Investment Management Company LLC now owns 7,704 shares of the restaurant operator’s stock worth $371,000 after buying an additional 55 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its position in The Cheesecake Factory by 3.3% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,420 shares of the restaurant operator’s stock worth $218,000 after buying an additional 109 shares during the last quarter. 98.67% of the stock is currently owned by institutional investors and hedge funds.
CAKE has been the subject of a number of recent analyst reports. Nomura decreased their target price on The Cheesecake Factory from $44.00 to $43.00 and set a “neutral” rating for the company in a research report on Friday, October 27th. TheStreet lowered shares of The Cheesecake Factory from a “b-” rating to a “c+” rating in a research report on Friday, August 25th. Maxim Group reaffirmed a “buy” rating and set a $57.00 price target on shares of The Cheesecake Factory in a research report on Tuesday, September 12th. Robert W. Baird reissued a “hold” rating and issued a $49.00 target price on shares of The Cheesecake Factory in a report on Friday, September 8th. Finally, Zacks Investment Research raised shares of The Cheesecake Factory from a “sell” rating to a “hold” rating in a report on Friday, October 27th. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $49.24.
Shares of The Cheesecake Factory Incorporated (CAKE) traded up $0.61 during mid-day trading on Wednesday, reaching $44.90. The company had a trading volume of 1,761,300 shares, compared to its average volume of 1,091,007. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.37 and a current ratio of 0.51. The company has a market capitalization of $2,027.83, a P/E ratio of 16.22, a P/E/G ratio of 1.18 and a beta of 0.29. The Cheesecake Factory Incorporated has a 12 month low of $38.34 and a 12 month high of $67.14.
The Cheesecake Factory (NASDAQ:CAKE) last issued its quarterly earnings results on Wednesday, November 1st. The restaurant operator reported $0.56 earnings per share for the quarter, missing the consensus estimate of $0.60 by ($0.04). The business had revenue of $555.40 million during the quarter, compared to analyst estimates of $566.09 million. The Cheesecake Factory had a return on equity of 21.65% and a net margin of 5.76%. The Cheesecake Factory’s revenue was down .8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.70 EPS. sell-side analysts predict that The Cheesecake Factory Incorporated will post 2.61 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 28th. Investors of record on Wednesday, November 15th will be issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 2.58%. The ex-dividend date of this dividend is Tuesday, November 14th. The Cheesecake Factory’s dividend payout ratio (DPR) is 42.80%.
In other The Cheesecake Factory news, Director Herbert Simon acquired 25,000 shares of the business’s stock in a transaction dated Monday, November 6th. The stock was acquired at an average cost of $43.50 per share, for a total transaction of $1,087,500.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Debby R. Zurzolo sold 2,415 shares of the business’s stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $44.20, for a total value of $106,743.00. The disclosure for this sale can be found here. Insiders have purchased 25,730 shares of company stock valued at $1,119,535 in the last ninety days. Corporate insiders own 8.40% of the company’s stock.
About The 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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