Private Wealth Partners LLC Buys 3,500 Shares of Cheesecake Factory Inc (NASDAQ:CAKE)

Private Wealth Partners LLC increased its stake in Cheesecake Factory Inc (NASDAQ:CAKE) by 50.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,500 shares of the restaurant operator’s stock after buying an additional 3,500 shares during the period. Private Wealth Partners LLC’s holdings in Cheesecake Factory were worth $459,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in CAKE. Dimensional Fund Advisors LP lifted its position in shares of Cheesecake Factory by 7.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,413,874 shares of the restaurant operator’s stock worth $61,516,000 after buying an additional 95,965 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Cheesecake Factory by 6.4% during the 4th quarter. Geode Capital Management LLC now owns 515,688 shares of the restaurant operator’s stock worth $22,437,000 after buying an additional 30,830 shares in the last quarter. Retirement Systems of Alabama lifted its position in shares of Cheesecake Factory by 0.4% during the 1st quarter. Retirement Systems of Alabama now owns 54,295 shares of the restaurant operator’s stock worth $2,656,000 after buying an additional 212 shares in the last quarter. Oppenheimer & Co. Inc. bought a new position in shares of Cheesecake Factory during the 1st quarter worth approximately $225,000. Finally, Virginia Retirement Systems ET AL bought a new position in shares of Cheesecake Factory during the 1st quarter worth approximately $1,032,000. 98.26% of the stock is owned by institutional investors.

Shares of NASDAQ:CAKE traded up $1.59 during mid-day trading on Thursday, reaching $37.49. The company had a trading volume of 22,631 shares, compared to its average volume of 910,714. The company has a current ratio of 0.36, a quick ratio of 0.26 and a debt-to-equity ratio of 1.81. The firm has a market cap of $1.60 billion, a price-to-earnings ratio of 15.30, a PEG ratio of 1.08 and a beta of 0.41. The company’s 50-day moving average price is $41.89 and its 200-day moving average price is $45.40. Cheesecake Factory Inc has a one year low of $35.83 and a one year high of $55.63.

Cheesecake Factory (NASDAQ:CAKE) last issued its earnings results on Wednesday, July 31st. The restaurant operator reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.81 by $0.01. Cheesecake Factory had a net margin of 4.52% and a return on equity of 21.31%. The business had revenue of $602.65 million for the quarter, compared to analysts’ expectations of $612.16 million. During the same quarter in the previous year, the firm posted $0.61 EPS. The business’s revenue for the quarter was up 2.6% compared to the same quarter last year. On average, research analysts anticipate that Cheesecake Factory Inc will post 2.62 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 27th. Shareholders of record on Wednesday, August 14th will be issued a dividend of $0.36 per share. This is a boost from Cheesecake Factory’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend is Tuesday, August 13th. This represents a $1.44 dividend on an annualized basis and a yield of 3.84%. Cheesecake Factory’s payout ratio is presently 59.26%.

In other Cheesecake Factory news, Director Laurence B. Mindel bought 2,500 shares of the stock in a transaction on Monday, August 12th. The shares were acquired at an average price of $39.04 per share, with a total value of $97,600.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Edie A. Ames bought 750 shares of the stock in a transaction on Tuesday, August 6th. The shares were acquired at an average cost of $42.18 per share, for a total transaction of $31,635.00. Following the acquisition, the director now directly owns 3,880 shares in the company, valued at $163,658.40. The disclosure for this purchase can be found here. Insiders own 8.50% of the company’s stock.

CAKE has been the topic of several recent analyst reports. Barclays lifted their target price on shares of Cheesecake Factory from $40.00 to $42.00 and gave the stock an “underweight” rating in a research report on Thursday, May 2nd. BidaskClub cut shares of Cheesecake Factory from a “sell” rating to a “strong sell” rating in a report on Saturday, August 17th. UBS Group began coverage on shares of Cheesecake Factory in a report on Friday, April 26th. They issued a “neutral” rating and a $51.00 price target on the stock. ValuEngine cut shares of Cheesecake Factory from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. Finally, Deutsche Bank began coverage on shares of Cheesecake Factory in a report on Friday, June 28th. They issued a “hold” rating and a $46.00 price target on the stock. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the company’s stock. Cheesecake Factory has a consensus rating of “Hold” and an average price target of $49.25.

Cheesecake Factory Profile

The Cheesecake Factory Incorporated engages in the operation of restaurants. The company produces cheesecakes and other baked products for own restaurants and international licensees, as well as external foodservice operators, retailers, and distributors. As of April 16, 2019, it owned and operated 219 full-service casual-dining restaurants in the United States, including Puerto Rico and Canada comprising 202 restaurants under The Cheesecake Factory name; 14 restaurants under the Grand Lux Café name; and 2 restaurants under the RockSugar Southeast Asian Kitchen name, as well as 22 The Cheesecake Factory restaurants under licensing agreements internationally.

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Institutional Ownership by Quarter for Cheesecake Factory (NASDAQ:CAKE)

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