Legal & General Group Plc Takes Position in The Cheesecake Factory Incorporated $CAKE

Legal & General Group Plc purchased a new position in shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 105,557 shares of the restaurant operator’s stock, valued at approximately $8,396,000. Legal & General Group Plc owned about 0.21% of Cheesecake Factory as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also bought and sold shares of the company. Allworth Financial LP acquired a new stake in Cheesecake Factory during the second quarter valued at approximately $36,000. NFSG Corp grew its position in shares of Cheesecake Factory by 115.8% in the 1st quarter. NFSG Corp now owns 682 shares of the restaurant operator’s stock worth $37,000 after acquiring an additional 366 shares in the last quarter. Global Retirement Partners LLC acquired a new position in shares of Cheesecake Factory in the 2nd quarter worth approximately $57,000. Root Financial Partners LLC grew its position in shares of Cheesecake Factory by 973.2% in the 4th quarter. Root Financial Partners LLC now owns 880 shares of the restaurant operator’s stock worth $44,000 after acquiring an additional 798 shares in the last quarter. Finally, Arax Advisory Partners bought a new stake in shares of Cheesecake Factory in the 4th quarter valued at approximately $50,000. 94.48% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Cheesecake Factory

In other Cheesecake Factory news, Director Janice L. Meyer sold 1,958 shares of the company’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $109.36, for a total value of $214,126.88. Following the completion of the transaction, the director owned 21,251 shares in the company, valued at approximately $2,324,009.36. This represents a 8.44% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, President David M. Gordon sold 31,950 shares of the company’s stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $110.03, for a total transaction of $3,515,458.50. Following the completion of the transaction, the president owned 26,875 shares of the company’s stock, valued at approximately $2,957,056.25. This trade represents a 54.31% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 213,749 shares of company stock worth $22,301,899 over the last 90 days. Corporate insiders own 8.00% of the company’s stock.

Analyst Ratings Changes

CAKE has been the topic of several research analyst reports. Stephens restated a “positive” rating on shares of Cheesecake Factory in a research note on Wednesday, July 29th. Wells Fargo & Company boosted their target price on shares of Cheesecake Factory from $65.00 to $75.00 and gave the company an “equal weight” rating in a research note on Thursday, July 16th. Mizuho increased their target price on shares of Cheesecake Factory from $85.00 to $93.00 and gave the stock a “neutral” rating in a report on Wednesday, July 29th. Oppenheimer raised their price target on shares of Cheesecake Factory from $91.00 to $101.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 29th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Cheesecake Factory from $92.00 to $105.00 and gave the company a “neutral” rating in a report on Wednesday, August 26th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $83.47.

Cheesecake Factory Trading Down 1.0%

NASDAQ:CAKE opened at $108.36 on Wednesday. The firm has a market capitalization of $5.39 billion, a P/E ratio of 29.37, a P/E/G ratio of 1.85 and a beta of 1.01. The business has a 50 day simple moving average of $95.37 and a 200 day simple moving average of $73.99. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.59 and a quick ratio of 0.52. The Cheesecake Factory Incorporated has a 12-month low of $43.07 and a 12-month high of $118.46.

Cheesecake Factory (NASDAQ:CAKE) last issued its earnings results on Tuesday, July 28th. The restaurant operator reported $1.44 earnings per share for the quarter, topping the consensus estimate of $1.18 by $0.26. The firm had revenue of $1.03 billion for the quarter, compared to analyst estimates of $999.54 million. Cheesecake Factory had a return on equity of 43.97% and a net margin of 4.61%.The firm’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same period last year, the company earned $1.16 earnings per share. Equities research analysts predict that The Cheesecake Factory Incorporated will post 4.52 EPS for the current year.

Cheesecake Factory Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 25th. Investors of record on Tuesday, August 11th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend was Tuesday, August 11th. Cheesecake Factory’s dividend payout ratio (DPR) is 32.52%.

Cheesecake Factory Profile

The Cheesecake Factory Incorporated (NASDAQ:CAKE) is an American restaurant company and distributor renowned for its full-service casual-dining concept and specialty cheesecakes. Headquartered in Calabasas Hills, California, the company operates more than 200 restaurants under The Cheesecake Factory® brand across the United States, Puerto Rico and select international markets. In addition to sit-down dining, Cheesecake Factory franchised locations offer catering and take-out services, while a separate manufacturing arm supplies branded cheesecakes and desserts to supermarkets, hotels and other foodservice operators.

The origins of the brand trace back to a small cheesecake bakery founded in Detroit in the 1940s.