Bridges Investment Management Inc. Makes New Investment in The Cheesecake Factory Incorporated (NASDAQ:CAKE)

Bridges Investment Management Inc. acquired a new stake in shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 7,385 shares of the restaurant operator’s stock, valued at approximately $290,000.

Other hedge funds also recently made changes to their positions in the company. First Eagle Investment Management LLC raised its position in Cheesecake Factory by 2.4% during the second quarter. First Eagle Investment Management LLC now owns 409,549 shares of the restaurant operator’s stock valued at $16,091,000 after purchasing an additional 9,450 shares in the last quarter. Seven Eight Capital LP bought a new position in shares of Cheesecake Factory during the 2nd quarter valued at about $273,000. Wealth Alliance purchased a new position in shares of Cheesecake Factory during the 2nd quarter valued at about $213,000. Dimensional Fund Advisors LP lifted its position in Cheesecake Factory by 3.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,241,272 shares of the restaurant operator’s stock worth $48,772,000 after buying an additional 43,128 shares during the last quarter. Finally, Envestnet Asset Management Inc. grew its position in Cheesecake Factory by 7.1% during the second quarter. Envestnet Asset Management Inc. now owns 435,307 shares of the restaurant operator’s stock valued at $17,103,000 after acquiring an additional 28,962 shares during the last quarter. 94.48% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Stephens restated an “overweight” rating and issued a $50.00 price objective on shares of Cheesecake Factory in a report on Thursday, August 1st. JPMorgan Chase & Co. cut their price target on shares of Cheesecake Factory from $40.00 to $38.00 and set an “underweight” rating for the company in a research report on Tuesday, August 6th. Barclays lifted their price objective on Cheesecake Factory from $32.00 to $35.00 and gave the stock an “underweight” rating in a report on Thursday, August 1st. Robert W. Baird increased their target price on Cheesecake Factory from $37.00 to $40.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Finally, Wells Fargo & Company lifted their price target on Cheesecake Factory from $36.00 to $38.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 1st. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $40.08.

Cheesecake Factory Stock Down 1.2 %

Shares of Cheesecake Factory stock opened at $38.73 on Monday. The company has a current ratio of 0.43, a quick ratio of 0.32 and a debt-to-equity ratio of 1.26. The Cheesecake Factory Incorporated has a 12-month low of $28.58 and a 12-month high of $41.33. The company has a market cap of $1.97 billion, a P/E ratio of 17.77, a PEG ratio of 1.04 and a beta of 1.50. The company’s fifty day simple moving average is $37.89 and its two-hundred day simple moving average is $37.27.

Cheesecake Factory (NASDAQ:CAKE) last announced 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 net margin of 3.32% and a return on equity of 43.62%. The company had revenue of $904.04 million for the quarter, compared to analysts’ expectations of $909.19 million. During the same quarter in the previous year, the company earned $0.88 earnings per share. Cheesecake Factory’s quarterly revenue was up 4.4% on a year-over-year basis. Research analysts anticipate that The Cheesecake Factory Incorporated will post 3.21 EPS for the current year.

Cheesecake Factory Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 27th. Stockholders of record on Wednesday, August 14th were paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.79%. The ex-dividend date was Wednesday, August 14th. Cheesecake Factory’s payout ratio is presently 49.54%.

Cheesecake Factory 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.