Versor Investments LP Lowers Stock Position in The Cheesecake Factory Incorporated $CAKE

Versor Investments LP cut its position in shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE) by 37.2% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 7,136 shares of the restaurant operator’s stock after selling 4,229 shares during the quarter. Versor Investments LP’s holdings in Cheesecake Factory were worth $447,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Wellington Management Group LLP boosted its holdings in Cheesecake Factory by 156.7% during the first quarter. Wellington Management Group LLP now owns 3,045,705 shares of the restaurant operator’s stock worth $148,204,000 after buying an additional 1,859,194 shares in the last quarter. Invesco Ltd. boosted its holdings in Cheesecake Factory by 83.5% during the first quarter. Invesco Ltd. now owns 2,591,205 shares of the restaurant operator’s stock worth $126,088,000 after buying an additional 1,178,722 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in Cheesecake Factory by 64.1% during the first quarter. Victory Capital Management Inc. now owns 1,766,131 shares of the restaurant operator’s stock worth $85,940,000 after buying an additional 689,784 shares in the last quarter. American Century Companies Inc. boosted its holdings in Cheesecake Factory by 17.7% during the first quarter. American Century Companies Inc. now owns 1,604,626 shares of the restaurant operator’s stock worth $78,081,000 after buying an additional 241,575 shares in the last quarter. Finally, Westwood Holdings Group Inc. purchased a new stake in Cheesecake Factory during the first quarter worth $75,795,000. 94.48% of the stock is owned by hedge funds and other institutional investors.

Cheesecake Factory Price Performance

Shares of NASDAQ CAKE opened at $47.75 on Wednesday. The firm has a 50-day simple moving average of $55.57 and a 200-day simple moving average of $57.60. The stock has a market capitalization of $2.38 billion, a price-to-earnings ratio of 14.47, a price-to-earnings-growth ratio of 1.21 and a beta of 1.06. The company has a quick ratio of 0.42, a current ratio of 0.51 and a debt-to-equity ratio of 1.40. The Cheesecake Factory Incorporated has a 52 week low of $42.69 and a 52 week high of $69.70.

Cheesecake Factory (NASDAQ:CAKE) last issued its earnings results on Tuesday, October 28th. The restaurant operator reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.08. The business had revenue of $907.23 million during the quarter, compared to analysts’ expectations of $912.95 million. Cheesecake Factory had a net margin of 4.33% and a return on equity of 47.25%. The company’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.58 earnings per share. On average, equities analysts predict that The Cheesecake Factory Incorporated will post 3.71 earnings per share for the current fiscal year.

Cheesecake Factory Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 25th. Stockholders of record on Tuesday, November 11th will be given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date is Monday, November 10th. Cheesecake Factory’s dividend payout ratio is 32.73%.

Insider Activity at Cheesecake Factory

In other news, President David M. Gordon sold 43,335 shares of the stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $63.06, for a total value of $2,732,705.10. Following the completion of the sale, the president directly owned 24,532 shares in the company, valued at $1,546,987.92. This represents a 63.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 8.40% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

CAKE has been the subject of a number of research analyst reports. Stephens reduced their price objective on shares of Cheesecake Factory from $70.00 to $64.00 and set an “overweight” rating for the company in a research report on Wednesday, October 29th. Citigroup reduced their price objective on shares of Cheesecake Factory from $68.00 to $65.00 and set a “buy” rating for the company in a research report on Wednesday, October 29th. Barclays reduced their price objective on shares of Cheesecake Factory from $50.00 to $48.00 and set an “underweight” rating for the company in a research report on Wednesday, October 29th. Weiss Ratings restated a “buy (b)” rating on shares of Cheesecake Factory in a research report on Wednesday, October 8th. Finally, Wells Fargo & Company reduced their price objective on shares of Cheesecake Factory from $60.00 to $55.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 29th. Nine equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $59.47.

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.