131,059 Shares in The Cheesecake Factory Incorporated (NASDAQ:CAKE) Acquired by JCP Investment Management LLC

JCP Investment Management LLC acquired a new stake in shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE) in the second quarter, according to its most recent disclosure with the SEC. The firm acquired 131,059 shares of the restaurant operator’s stock, valued at approximately $5,149,000. Cheesecake Factory makes up about 5.8% of JCP Investment Management LLC’s holdings, making the stock its 8th biggest position. JCP Investment Management LLC owned about 0.26% of Cheesecake Factory as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CAKE. Shellback Capital LP purchased a new stake in shares of Cheesecake Factory in the 2nd quarter worth $1,120,000. The Manufacturers Life Insurance Company increased its holdings in shares of Cheesecake Factory by 11.4% during the second quarter. The Manufacturers Life Insurance Company now owns 26,230 shares of the restaurant operator’s stock valued at $1,031,000 after acquiring an additional 2,684 shares in the last quarter. Maverick Capital Ltd. raised its holdings in shares of Cheesecake Factory by 142.5% in the second quarter. Maverick Capital Ltd. now owns 29,062 shares of the restaurant operator’s stock worth $1,142,000 after buying an additional 17,079 shares during the last quarter. Earnest Partners LLC raised its stake in Cheesecake Factory by 2.8% in the 2nd quarter. Earnest Partners LLC now owns 2,831,381 shares of the restaurant operator’s stock worth $111,245,000 after acquiring an additional 76,578 shares during the last quarter. Finally, AXA S.A. lifted its holdings in shares of Cheesecake Factory by 103.1% during the second quarter. AXA S.A. now owns 112,088 shares of the restaurant operator’s stock worth $4,404,000 after purchasing an additional 56,889 shares during the period. 94.48% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on CAKE. JPMorgan Chase & Co. cut their target price on shares of Cheesecake Factory from $40.00 to $38.00 and set an “underweight” rating for the company in a report on Tuesday, August 6th. Wedbush reaffirmed an “outperform” rating and set a $45.00 target price on shares of Cheesecake Factory in a research note on Thursday, August 1st. Stephens reiterated an “overweight” rating and set a $50.00 price objective on shares of Cheesecake Factory in a research report on Thursday, August 1st. Barclays boosted their target price 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. Finally, Robert W. Baird raised their price objective on Cheesecake Factory from $37.00 to $40.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $40.08.

Cheesecake Factory Stock Down 3.2 %

CAKE stock opened at $39.80 on Friday. The company has a market cap of $2.03 billion, a PE ratio of 18.26, a price-to-earnings-growth ratio of 1.14 and a beta of 1.50. 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 business’s 50-day simple moving average is $37.94 and its 200 day simple moving average is $37.38. The Cheesecake Factory Incorporated has a twelve month low of $28.58 and a twelve month high of $41.33.

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

Cheesecake Factory Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 27th. Stockholders of record on Wednesday, August 14th were paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.71%. The ex-dividend date was Wednesday, August 14th. Cheesecake Factory’s dividend payout ratio is presently 49.54%.

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.