Connor Clark & Lunn Investment Management Ltd. Has $4.88 Million Stock Holdings in The Cheesecake Factory Incorporated $CAKE

Connor Clark & Lunn Investment Management Ltd. trimmed its holdings in shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE) by 41.6% during the second quarter, HoldingsChannel reports. The fund owned 77,826 shares of the restaurant operator’s stock after selling 55,327 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Cheesecake Factory were worth $4,877,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CAKE. Ameritas Advisory Services LLC bought a new position in shares of Cheesecake Factory during the second quarter valued at $28,000. Parkside Financial Bank & Trust increased its holdings in Cheesecake Factory by 39.2% in the second quarter. Parkside Financial Bank & Trust now owns 632 shares of the restaurant operator’s stock valued at $40,000 after purchasing an additional 178 shares during the period. SBI Securities Co. Ltd. raised its position in Cheesecake Factory by 38.5% during the 1st quarter. SBI Securities Co. Ltd. now owns 1,244 shares of the restaurant operator’s stock worth $61,000 after purchasing an additional 346 shares during the last quarter. Bayforest Capital Ltd bought a new position in Cheesecake Factory during the 1st quarter worth $72,000. Finally, Penserra Capital Management LLC acquired a new position in Cheesecake Factory during the 2nd quarter worth about $137,000. 94.48% of the stock is currently owned by institutional investors and hedge funds.

Cheesecake Factory Price Performance

Shares of CAKE opened at $45.89 on Friday. The firm has a market cap of $2.29 billion, a PE ratio of 13.91, a price-to-earnings-growth ratio of 1.21 and a beta of 1.08. The Cheesecake Factory Incorporated has a 52-week low of $42.69 and a 52-week high of $69.70. The business’s 50 day moving average price is $53.48 and its two-hundred day moving average price is $57.32. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.42 and a current ratio of 0.51.

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

Cheesecake Factory Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 25th. Stockholders of record on Tuesday, November 11th will be issued a dividend of $0.27 per share. The ex-dividend date is Monday, November 10th. This represents a $1.08 annualized dividend and a dividend yield of 2.4%. Cheesecake Factory’s dividend payout ratio is currently 32.73%.

Wall Street Analysts Forecast Growth

CAKE has been the subject of several recent research reports. JPMorgan Chase & Co. decreased their price target on Cheesecake Factory from $57.00 to $52.00 and set an “underweight” rating for the company in a research note on Thursday, October 30th. Morgan Stanley set a $49.00 target price on Cheesecake Factory in a report on Wednesday, October 29th. Argus lowered their price target on shares of Cheesecake Factory from $72.00 to $55.00 and set a “buy” rating for the company in a report on Friday, November 7th. Mizuho set a $65.00 price target on shares of Cheesecake Factory and gave the stock an “outperform” rating in a research report on Wednesday, October 29th. Finally, Citigroup reduced their price objective on shares of Cheesecake Factory from $68.00 to $65.00 and set a “buy” rating on the stock in a research note on Wednesday, October 29th. Ten equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat, Cheesecake Factory currently has a consensus rating of “Hold” and a consensus target price of $59.18.

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.