The Cheesecake Factory Incorporated (NASDAQ:CAKE) Shares Acquired by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in The Cheesecake Factory Incorporated (NASDAQ:CAKE) by 7.2% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,090 shares of the restaurant operator’s stock after purchasing an additional 749 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Cheesecake Factory were worth $450,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its position in shares of 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 buying an additional 1,064 shares during the last quarter. nVerses Capital LLC purchased a new stake in Cheesecake Factory in the second quarter valued at $67,000. Wealth Alliance acquired a new position in Cheesecake Factory in the second quarter valued at $213,000. Glenmede Trust Co. NA purchased a new position in shares of Cheesecake Factory during the third quarter worth about $223,000. Finally, Foundations Investment Advisors LLC acquired a new stake in shares of Cheesecake Factory during the third quarter worth about $227,000. 94.48% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Keith Carango sold 13,095 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $49.88, for a total value of $653,178.60. Following the transaction, the insider now owns 14,977 shares in the company, valued at approximately $747,052.76. The trade was a 46.65 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 8.10% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on CAKE. Citigroup raised their price target on Cheesecake Factory from $46.00 to $51.00 and gave the stock a “buy” rating in a research note on Friday, October 4th. Barclays raised their target price on shares of Cheesecake Factory from $38.00 to $44.00 and gave the stock an “underweight” rating in a research report on Wednesday, October 30th. Bank of America upped their price target on shares of Cheesecake Factory from $47.00 to $49.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. The Goldman Sachs Group began coverage on shares of Cheesecake Factory in a research report on Thursday. They set a “buy” rating and a $56.00 price objective on the stock. Finally, Wedbush upped their target price on shares of Cheesecake Factory from $52.00 to $59.00 and gave the company an “outperform” rating in a report on Thursday, November 14th. Three 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’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $45.62.

Cheesecake Factory Stock Performance

Shares of CAKE stock opened at $49.92 on Friday. The stock has a 50 day simple moving average of $45.05 and a 200-day simple moving average of $40.68. The company has a market cap of $2.55 billion, a price-to-earnings ratio of 18.98, a price-to-earnings-growth ratio of 1.40 and a beta of 1.48. The Cheesecake Factory Incorporated has a 12-month low of $31.24 and a 12-month high of $52.10. The company has a current ratio of 0.44, a quick ratio of 0.33 and a debt-to-equity ratio of 1.19.

Cheesecake Factory (NASDAQ:CAKE) last announced its earnings results on Tuesday, October 29th. The restaurant operator reported $0.58 EPS for the quarter, beating the consensus estimate of $0.47 by $0.11. The business had revenue of $865.50 million for the quarter, compared to the consensus estimate of $866.13 million. Cheesecake Factory had a return on equity of 43.90% and a net margin of 3.63%. The company’s revenue was up 4.3% on a year-over-year basis. During the same period last year, the business posted $0.39 EPS. On average, equities analysts forecast that The Cheesecake Factory Incorporated will post 3.31 EPS for the current year.

Cheesecake Factory Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 26th. Investors of record on Wednesday, November 13th were issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date was Wednesday, November 13th. Cheesecake Factory’s payout ratio is 41.06%.

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.