Zurcher Cantonalbank Zurich Cantonalbank reduced its holdings in The Cheesecake Factory Incorporated (NASDAQ: CAKE – Get Rating) by 29.4% in the first quarter, according to the company in its latest filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,425 shares of the restaurant operator’s stock after selling 3,090 shares during the quarter. Zurcher Cantonalbank’s holdings in the Cheesecake Factory were valued at $295,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also recently bought and sold shares of CAKE. Lindbrook Capital LLC grew its holdings in Cheesecake Factory by 996.6% in the first quarter. Lindbrook Capital LLC now owns 2,599 shares of the restaurant operator’s stock valued at $103,000 after purchasing an additional 2,362 shares during the period. Frontier Capital Management LLC. its position in shares of The Cheesecake Factory by 32.5% in the first quarter. Frontier Capital Management, Inc. now owns 1,816,789 shares of the restaurant operator’s stock valued at $72,290,000 after purchasing an additional 445,208 shares last quarter. Yarbrough Capital LLC increased its stake in Cheesecake Factory by 28.8% in the first quarter. Yarbrough Capital LLC now owns 9,185 shares of the restaurant operator’s stock valued at $365,000 after purchasing an additional 2,056 shares during the last quarter. Everence Capital Management raised its stake in Cheesecake Factory by 56.6% during the first quarter. Everence Capital Management Inc. Now 8,880 shares of the restaurant operator’s stock are valued at $353,000 after purchasing an additional 3,210 shares during the last quarter. Finally, American Trust bought a new stake in Cheesecake Factory in the last quarter valued at $264,000. 87.42% of the shares are owned by hedge funds and other institutional investors.
Cheese cake factory price performance
Nasdaq Cake opened at $27.42 on Friday. The company has a debt-to-equity ratio of 1.31, a trading ratio of 0.62 and a quick ratio of 0.54. The Cheesecake Factory Incorporated posted a one-year low of $26.05 and a one-year high of $55.31. The stock has a market capitalization of $1.45 billion, a price-earnings ratio of 18.28, a price-earnings ratio of 1.15 and a beta of 1.45. The company’s 50-day moving average is $29.85 and the 200-day moving average is $35.18.
The Cheesecake Factory (NASDAQ: CAKE – Get Rating) posted its latest earnings results on Wednesday, April 27. The restaurant operator reported earnings of $0.47 per share for the quarter, missing analyst estimates of $0.50 ($0.03). The company generated $793.71 million in revenue for the quarter, compared to the consensus estimate of $782.10 million. The Cheesecake Factory generated a net profit margin of 2.96% and a return on equity of 38.98%. During the same period in the previous year, the company reported $0.20 in EPS. On average, stock analysts expect The Cheesecake Factory Incorporated to post 2.77 earnings per share for the current year.
Cheesecake Factory Cuts Profits
The company also recently announced a quarterly dividend, which was paid on Tuesday, May 24th. Investors of record on Wednesday, May 11th received cash dividends of $0.27 per share. The ex-dividend date was Tuesday, May 10th. This represents an annual profit of $1.08 and a return of 3.94%. The Cheesecake Factory has a dividend yield ratio (DPR) of 72.00%.
Analysts are promoted and lowered
Several brokerages have recently influenced CAKE. Citigroup cut Cheesecake Factory’s price target from $52.00 to $43.00 and assigned a “buy” rating to the company in a report on Thursday, June 16th. StockNews.com began covering Cheesecake Factory shares in a report on Thursday, March 31st. They issued a “hold” rating for the company. Deutsche Bank Aktiengesellschaft cut its price target for Cheesecake Factory shares from $43.00 to $35.00 and placed a “hold” rating on the stock in a research note on Tuesday, July 5th. Piper Sandler lowered its price target for Cheesecake Factory shares from $38.00 to $30.00 and assigned a “neutral” rating to the company in a report released on Monday, July 11. Finally, Morgan Stanley cut its price target on the Cheesecake Factory from $39.00 to $36.00 and assigned an “underweight” rating to the stock in a research report on Thursday, April 14th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and six analysts have assigned a buy rating to the company. According to MarketBeat data, the stock currently has a consensus rating of “Hold” and an agreed target price of $46.17.
Company Profile Cheesecake Factory
The Cheesecake Factory Incorporated operates restaurants. It operates two bakeries that produce cheesecakes and other baked goods for its restaurants, international licensees, third-party bakery clients, outside food service operators, retailers, and distributors. The company owns and operates 306 restaurants throughout the United States and Canada under the brands, including 208 The Cheesecake Factory and 29 North Italia; and a group of Fox Restaurant Concepts, as well as 29 restaurants at The Cheesecake Factory under international licensing agreements.
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