Y Intercept Hong Kong Ltd Acquires New Shares in The Cheesecake Factory Incorporated $CAKE

Y Intercept Hong Kong Ltd acquired a new position in The Cheesecake Factory Incorporated (NASDAQ:CAKE) in the 2nd quarter, Holdings Channel reports. The firm acquired 3,666 shares of the restaurant operator’s stock, valued at approximately $230,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CAKE. Ameritas Advisory Services LLC purchased a new stake in Cheesecake Factory in the second quarter valued at approximately $28,000. SBI Securities Co. Ltd. grew its stake in shares of Cheesecake Factory by 38.5% in the first quarter. SBI Securities Co. Ltd. now owns 1,244 shares of the restaurant operator’s stock valued at $61,000 after buying an additional 346 shares in the last quarter. Bayforest Capital Ltd purchased a new stake in shares of Cheesecake Factory in the 1st quarter valued at $72,000. Smartleaf Asset Management LLC raised its holdings in shares of Cheesecake Factory by 24.4% in the 1st quarter. Smartleaf Asset Management LLC now owns 3,268 shares of the restaurant operator’s stock valued at $162,000 after buying an additional 640 shares during the period. Finally, Jefferies Financial Group Inc. acquired a new position in Cheesecake Factory during the 1st quarter worth about $211,000. Hedge funds and other institutional investors own 94.48% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on CAKE. Morgan Stanley set a $49.00 price target on Cheesecake Factory in a research report on Wednesday, October 29th. Wells Fargo & Company decreased their price target on shares of Cheesecake Factory from $60.00 to $55.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 29th. Stephens dropped their price objective on shares of Cheesecake Factory from $70.00 to $64.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 29th. Jefferies Financial Group set a $70.00 price objective on shares of Cheesecake Factory and gave the stock a “buy” rating in a research report on Wednesday, October 29th. Finally, Barclays lowered their target price on shares of Cheesecake Factory from $50.00 to $48.00 and set an “underweight” rating for the company in a research note on Wednesday, October 29th. Ten equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat, Cheesecake Factory currently has an average rating of “Hold” and an average target price of $59.18.

Cheesecake Factory Stock Up 1.1%

Cheesecake Factory stock opened at $47.45 on Friday. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.51 and a quick ratio of 0.42. The Cheesecake Factory Incorporated has a 1-year low of $42.69 and a 1-year high of $69.70. The company has a market cap of $2.37 billion, a PE ratio of 14.38, a price-to-earnings-growth ratio of 1.21 and a beta of 1.08. The stock’s 50 day moving average price is $54.71 and its 200 day moving average price is $57.50.

Cheesecake Factory (NASDAQ:CAKE) last released its quarterly earnings data on Monday, November 3rd. The restaurant operator reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.08. The firm had revenue of $907.23 million for the quarter, compared to the consensus estimate of $912.95 million. Cheesecake Factory had a net margin of 4.33% and a return on equity of 47.25%. The firm’s revenue was up 4.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.58 earnings per share. On average, sell-side analysts predict that The Cheesecake Factory Incorporated will post 3.71 EPS for the current fiscal year.

Cheesecake Factory Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 25th. Shareholders of record on Tuesday, November 11th will be issued 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 (DPR) is 32.73%.

Insider Activity

In other news, President David M. Gordon sold 43,335 shares of the company’s stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $63.06, for a total transaction 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 position. The transaction was disclosed in a filing with the SEC, which is available at this link. 8.40% of the stock is owned by corporate insiders.

About Cheesecake Factory

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.