The Manufacturers Life Insurance Company Has $1.03 Million Stock Position in The Cheesecake Factory Incorporated (NASDAQ:CAKE)

The Manufacturers Life Insurance Company increased its position in shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE) by 11.4% in the second quarter, HoldingsChannel reports. The firm owned 26,230 shares of the restaurant operator’s stock after purchasing an additional 2,684 shares during the period. The Manufacturers Life Insurance Company’s holdings in Cheesecake Factory were worth $1,031,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Allspring Global Investments Holdings LLC increased its position in Cheesecake Factory by 2,360.7% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 689 shares of the restaurant operator’s stock valued at $25,000 after acquiring an additional 661 shares in the last quarter. Ables Iannone Moore & Associates Inc. acquired a new stake in Cheesecake Factory in the 4th quarter valued at about $26,000. GAMMA Investing LLC increased its position in Cheesecake Factory by 276.4% in the 2nd quarter. GAMMA Investing LLC now owns 1,449 shares of the restaurant operator’s stock valued at $57,000 after acquiring an additional 1,064 shares in the last quarter. nVerses Capital LLC acquired a new stake in Cheesecake Factory in the 2nd quarter valued at about $67,000. Finally, SG Americas Securities LLC acquired a new stake in Cheesecake Factory in the 1st quarter valued at about $121,000. Institutional investors and hedge funds own 94.48% of the company’s stock.

Cheesecake Factory Stock Up 2.2 %

Cheesecake Factory stock opened at $39.57 on Friday. The company’s 50 day simple moving average is $38.49 and its 200 day simple moving average is $37.73. The Cheesecake Factory Incorporated has a fifty-two week low of $28.67 and a fifty-two week high of $42.82. The firm has a market capitalization of $2.02 billion, a price-to-earnings ratio of 16.56, a PEG ratio of 1.13 and a beta of 1.49. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.43 and a quick ratio of 0.32.

Cheesecake Factory (NASDAQ:CAKE) last released its quarterly earnings data on Wednesday, July 31st. The restaurant operator reported $1.09 earnings per share 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 business had revenue of $904.04 million for the quarter, compared to analyst estimates of $909.19 million. During the same quarter last year, the firm earned $0.88 EPS. Cheesecake Factory’s quarterly revenue was up 4.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that The Cheesecake Factory Incorporated will post 3.21 EPS for the current year.

Cheesecake Factory Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 27th. Investors of record on Wednesday, August 14th were paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 2.73%. The ex-dividend date of this dividend was Wednesday, August 14th. Cheesecake Factory’s payout ratio is 45.19%.

Analyst Ratings Changes

Several research firms have weighed in on CAKE. Wells Fargo & Company raised their price objective on shares of Cheesecake Factory from $36.00 to $38.00 and gave the company an “equal weight” rating in a research report on Thursday, August 1st. Citigroup raised their price objective on shares of Cheesecake Factory from $46.00 to $51.00 and gave the company a “buy” rating in a research report on Friday, October 4th. Stephens restated an “overweight” rating and issued a $50.00 price objective on shares of Cheesecake Factory in a research report on Thursday, August 1st. Wedbush reaffirmed an “outperform” rating and issued a $45.00 target price on shares of Cheesecake Factory in a research note on Thursday, August 1st. Finally, Robert W. Baird raised their target price on shares of Cheesecake Factory from $37.00 to $40.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Two equities 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’s stock. According to MarketBeat.com, Cheesecake Factory currently has a consensus rating of “Hold” and an average target price of $41.55.

About Cheesecake Factory

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.