Atria Investments Inc Boosts Holdings in The Cheesecake Factory Incorporated (NASDAQ:CAKE)

Atria Investments Inc increased its holdings in The Cheesecake Factory Incorporated (NASDAQ:CAKE) by 8.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,074 shares of the restaurant operator’s stock after buying an additional 689 shares during the quarter. Atria Investments Inc’s holdings in Cheesecake Factory were worth $368,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in CAKE. GAMMA Investing LLC raised its stake in Cheesecake Factory by 276.4% during the 2nd quarter. GAMMA Investing LLC now owns 1,449 shares of the restaurant operator’s stock worth $57,000 after acquiring an additional 1,064 shares during the period. nVerses Capital LLC bought a new stake in shares of Cheesecake Factory during the second quarter valued at approximately $67,000. SG Americas Securities LLC bought a new stake in shares of Cheesecake Factory during the first quarter valued at approximately $121,000. Wealth Alliance bought a new stake in shares of Cheesecake Factory during the second quarter valued at approximately $213,000. Finally, Avantax Advisory Services Inc. bought a new stake in shares of Cheesecake Factory during the first quarter valued at approximately $202,000. Hedge funds and other institutional investors own 94.48% of the company’s stock.

Wall Street Analysts Forecast Growth

CAKE has been the topic of several recent analyst reports. Robert W. Baird lifted their price objective on shares of Cheesecake Factory from $40.00 to $47.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Bank of America lifted their price objective on shares of Cheesecake Factory from $47.00 to $49.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Barclays lifted their price objective on shares of Cheesecake Factory from $38.00 to $44.00 and gave the stock an “underweight” rating in a research note on Wednesday, October 30th. StockNews.com raised shares of Cheesecake Factory from a “hold” rating to a “buy” rating in a research note on Wednesday. Finally, Wedbush boosted their target price on shares of Cheesecake Factory from $52.00 to $59.00 and gave the company an “outperform” rating in a research note on Thursday, November 14th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $44.75.

Cheesecake Factory Stock Down 0.4 %

Cheesecake Factory stock opened at $46.43 on Friday. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.44 and a quick ratio of 0.33. The Cheesecake Factory Incorporated has a 1-year low of $30.96 and a 1-year high of $50.75. The company has a market cap of $2.37 billion, a PE ratio of 17.65, a price-to-earnings-growth ratio of 1.28 and a beta of 1.47. The stock’s 50 day moving average price is $42.74 and its 200 day moving average price is $39.75.

Cheesecake Factory (NASDAQ:CAKE) last posted its earnings results on Tuesday, October 29th. The restaurant operator reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.11. Cheesecake Factory had a return on equity of 43.90% and a net margin of 3.63%. The company had revenue of $865.50 million for the quarter, compared to the consensus estimate of $866.13 million. During the same period in the previous year, the business earned $0.39 earnings per share. Cheesecake Factory’s quarterly revenue was up 4.3% compared to the same quarter last year. On average, sell-side analysts predict that The Cheesecake Factory Incorporated will post 3.3 EPS for the current fiscal year.

Cheesecake Factory Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 26th. Stockholders of record on Wednesday, November 13th will be given a $0.27 dividend. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $1.08 annualized dividend and a dividend yield of 2.33%. Cheesecake Factory’s dividend payout ratio is currently 41.06%.

Insider Activity

In related news, insider Keith Carango sold 13,095 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $49.88, for a total value of $653,178.60. Following the completion of the transaction, the insider now directly owns 14,977 shares in the company, valued at approximately $747,052.76. This represents a 46.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 8.10% of the company’s stock.

Cheesecake Factory Company Profile

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.