Wellington Capital Management Inc. Buys New Stake in The Cheesecake Factory Incorporated $CAKE

Wellington Capital Management Inc. purchased a new stake in shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 18,600 shares of the restaurant operator’s stock, valued at approximately $1,165,000. Cheesecake Factory makes up about 1.6% of Wellington Capital Management Inc.’s investment portfolio, making the stock its 14th biggest position.

A number of other large investors have also recently made changes to their positions in the business. Ameritas Advisory Services LLC bought a new position in shares of Cheesecake Factory in the 2nd quarter valued at about $28,000. Parkside Financial Bank & Trust lifted its stake in shares of Cheesecake Factory by 39.2% in the 2nd 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 last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Cheesecake Factory by 32.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,333 shares of the restaurant operator’s stock worth $83,000 after purchasing an additional 323 shares during the period. Bayforest Capital Ltd bought a new position in shares of Cheesecake Factory during the 1st quarter valued at approximately $72,000. Finally, Penserra Capital Management LLC purchased a new stake in Cheesecake Factory during the 2nd quarter valued at $137,000. 94.48% of the stock is currently owned by institutional investors.

Cheesecake Factory Price Performance

Cheesecake Factory stock opened at $49.86 on Friday. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.55 and a quick ratio of 0.47. The stock has a market cap of $2.49 billion, a price-to-earnings ratio of 15.11, a price-to-earnings-growth ratio of 1.42 and a beta of 0.96. The firm has a 50-day moving average of $49.61 and a two-hundred day moving average of $56.58. The Cheesecake Factory Incorporated has a 1 year low of $42.69 and a 1 year high of $69.70.

Cheesecake Factory (NASDAQ:CAKE) last posted its quarterly earnings results 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. The firm had revenue of $907.23 million during 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 46.35%. The company’s revenue was up 4.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.58 earnings per share. On average, research analysts forecast that The Cheesecake Factory Incorporated will post 3.71 earnings per share for the current year.

Cheesecake Factory Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 25th. Shareholders of record on Tuesday, November 11th were issued a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 2.2%. The ex-dividend date was Monday, November 10th. Cheesecake Factory’s dividend payout ratio is currently 32.73%.

Wall Street Analyst Weigh In

Several research firms have commented on CAKE. Wells Fargo & Company dropped 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 note on Wednesday, October 29th. Oppenheimer set a $70.00 price target on shares of Cheesecake Factory in a research note on Wednesday, October 29th. Morgan Stanley set a $49.00 price target on shares of Cheesecake Factory in a report on Wednesday, October 29th. Bank of America decreased their price objective on shares of Cheesecake Factory from $61.00 to $56.00 and set a “neutral” rating for the company in a research note on Wednesday, October 29th. Finally, Stephens cut their target price on Cheesecake Factory from $70.00 to $64.00 and set an “overweight” 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 given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target 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.