Zurcher Kantonalbank Zurich Cantonalbank Acquires 715 Shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE)

Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in The Cheesecake Factory Incorporated (NASDAQ:CAKE) by 7.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,341 shares of the restaurant operator’s stock after purchasing an additional 715 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Cheesecake Factory were worth $406,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of CAKE. Allspring Global Investments Holdings LLC boosted its holdings in Cheesecake Factory by 2,360.7% in the first quarter. Allspring Global Investments Holdings LLC now owns 689 shares of the restaurant operator’s stock worth $25,000 after purchasing an additional 661 shares in the last quarter. Ables Iannone Moore & Associates Inc. bought a new stake in Cheesecake Factory in the fourth quarter worth $26,000. Quadrant Capital Group LLC boosted its holdings in Cheesecake Factory by 48.4% in the fourth quarter. Quadrant Capital Group LLC now owns 1,566 shares of the restaurant operator’s stock worth $55,000 after purchasing an additional 511 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Cheesecake Factory by 276.4% in the second quarter. GAMMA Investing LLC now owns 1,449 shares of the restaurant operator’s stock worth $57,000 after purchasing an additional 1,064 shares in the last quarter. Finally, SG Americas Securities LLC bought a new stake in Cheesecake Factory in the first quarter worth $121,000. 94.48% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Citigroup upgraded shares of Cheesecake Factory from a “neutral” rating to a “buy” rating and upped their price target for the company from $38.00 to $47.00 in a report on Friday, May 10th. Stephens restated an “overweight” rating and set a $50.00 price target on shares of Cheesecake Factory in a report on Thursday, August 1st. Barclays upped their price target on shares of Cheesecake Factory from $32.00 to $35.00 and gave the company an “underweight” rating in a report on Thursday, August 1st. Wedbush restated an “outperform” rating and set a $45.00 price target on shares of Cheesecake Factory in a report on Thursday, August 1st. Finally, Wells Fargo & Company upped their price target on shares of Cheesecake Factory from $36.00 to $38.00 and gave the company an “equal weight” rating in a report on Thursday, August 1st. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $40.08.

Cheesecake Factory Stock Performance

NASDAQ:CAKE opened at $37.46 on Friday. The Cheesecake Factory Incorporated has a 12-month low of $28.58 and a 12-month high of $41.33. The company has a quick ratio of 0.32, a current ratio of 0.43 and a debt-to-equity ratio of 1.26. The firm has a market capitalization of $1.91 billion, a PE ratio of 17.18, a price-to-earnings-growth ratio of 1.13 and a beta of 1.50. The firm has a 50-day moving average price of $37.92 and a 200 day moving average price of $37.10.

Cheesecake Factory (NASDAQ:CAKE) last posted its quarterly earnings results on Wednesday, July 31st. The restaurant operator reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.09. Cheesecake Factory had a net margin of 3.32% and a return on equity of 43.62%. The firm had revenue of $904.04 million during the quarter, compared to analyst estimates of $909.19 million. During the same quarter in the prior year, the business posted $0.88 earnings per share. The company’s quarterly revenue was up 4.4% compared to the same quarter last year. Research analysts anticipate that The Cheesecake Factory Incorporated will post 3.21 earnings per share for the current fiscal year.

Cheesecake Factory Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 27th. Investors of record on Wednesday, August 14th were given a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 2.88%. The ex-dividend date of this dividend was Wednesday, August 14th. Cheesecake Factory’s dividend payout ratio (DPR) is presently 49.54%.

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.