Kayne Anderson Rudnick Investment Management LLC raised its holdings in The Cheesecake Factory Incorporated (NASDAQ:CAKE) by 54.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,457,364 shares of the restaurant operator’s stock after buying an additional 869,579 shares during the quarter. The Cheesecake Factory accounts for approximately 0.9% of Kayne Anderson Rudnick Investment Management LLC’s holdings, making the stock its 27th biggest holding. Kayne Anderson Rudnick Investment Management LLC owned approximately 5.23% of The Cheesecake Factory worth $103,504,000 at the end of the most recent quarter.
Other institutional investors have also made changes to their positions in the company. Koch Industries Inc. bought a new stake in The Cheesecake Factory in the 2nd quarter valued at $353,000. Hendershot Investments Inc. boosted its stake in shares of The Cheesecake Factory by 4.3% in the 2nd quarter. Hendershot Investments Inc. now owns 69,805 shares of the restaurant operator’s stock valued at $3,511,000 after purchasing an additional 2,865 shares in the last quarter. Sciencast Management LP acquired a new stake in shares of The Cheesecake Factory in the 2nd quarter valued at $357,000. Bridgewater Associates LP acquired a new stake in shares of The Cheesecake Factory in the 2nd quarter valued at $606,000. Finally, Long Road Investment Counsel LLC boosted its stake in shares of The Cheesecake Factory by 35.2% in the 2nd quarter. Long Road Investment Counsel LLC now owns 47,079 shares of the restaurant operator’s stock valued at $2,368,000 after purchasing an additional 12,260 shares in the last quarter. 98.67% of the stock is currently owned by hedge funds and other institutional investors.
CAKE has been the topic of several research reports. Barclays PLC reiterated an “equal weight” rating and set a $48.00 price target (down previously from $53.00) on shares of The Cheesecake Factory in a research report on Wednesday, August 9th. Canaccord Genuity reiterated a “hold” rating on shares of The Cheesecake Factory in a research report on Friday, August 4th. Instinet reiterated a “neutral” rating and set a $44.00 price target (down previously from $50.00) on shares of The Cheesecake Factory in a research report on Thursday, August 3rd. Robert W. Baird set a $49.00 price target on shares of The Cheesecake Factory and gave the stock a “hold” rating in a research report on Thursday, August 3rd. Finally, Stephens reiterated an “equal weight” rating and set a $48.00 price target (down previously from $55.00) on shares of The Cheesecake Factory in a research report on Wednesday, August 9th. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have assigned a buy rating to the company. The Cheesecake Factory currently has an average rating of “Hold” and an average price target of $49.24.
In other The Cheesecake Factory news, VP Debby R. Zurzolo sold 2,415 shares of the company’s stock in a transaction that occurred on Thursday, November 9th. The stock was sold at an average price of $44.20, for a total transaction of $106,743.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Herbert Simon purchased 25,000 shares of The Cheesecake Factory stock in a transaction on Monday, November 6th. The shares were purchased at an average cost of $43.50 per share, with a total value of $1,087,500.00. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 25,730 shares of company stock valued at $1,119,535. 8.40% of the stock is owned by company insiders.
The Cheesecake Factory Incorporated (NASDAQ:CAKE) traded up $0.61 during midday trading on Wednesday, reaching $44.90. The company had a trading volume of 1,761,300 shares, compared to its average volume of 1,091,007. The Cheesecake Factory Incorporated has a twelve month low of $38.34 and a twelve month high of $67.14. The company has a current ratio of 0.51, a quick ratio of 0.37 and a debt-to-equity ratio of 0.05. The company has a market cap of $2,027.83, a PE ratio of 16.22, a price-to-earnings-growth ratio of 1.18 and a beta of 0.29.
The Cheesecake Factory (NASDAQ:CAKE) last posted its earnings results on Wednesday, November 1st. The restaurant operator reported $0.56 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.04). The Cheesecake Factory had a return on equity of 21.65% and a net margin of 5.76%. The business had revenue of $555.40 million for the quarter, compared to the consensus estimate of $566.09 million. During the same period in the previous year, the company posted $0.70 earnings per share. The Cheesecake Factory’s revenue for the quarter was down .8% compared to the same quarter last year. analysts anticipate that The Cheesecake Factory Incorporated will post 2.61 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 28th. Investors of record on Wednesday, November 15th will be paid a dividend of $0.29 per share. The ex-dividend date of this dividend is Tuesday, November 14th. This represents a $1.16 dividend on an annualized basis and a yield of 2.58%. The Cheesecake Factory’s payout ratio is 42.80%.
About The Cheesecake Factory
The Cheesecake Factory Incorporated is engaged in the restaurant and bakery business. As of March 2, 2017, the Company operated 208 Company-owned restaurants: 194 under The Cheesecake Factory mark, 13 under the Grand Lux Cafe mark and one under the Rock Sugar Pan Asian Kitchen mark. The Company’s segments include The Cheesecake Factory restaurants, and other.
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