6,941 Shares in The Cheesecake Factory Incorporated (NASDAQ:CAKE) Bought by Seven Eight Capital LP

Seven Eight Capital LP purchased a new stake in shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 6,941 shares of the restaurant operator’s stock, valued at approximately $273,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Allspring Global Investments Holdings LLC boosted its holdings in Cheesecake Factory by 2,360.7% during 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 during the period. Ables Iannone Moore & Associates Inc. bought a new stake in Cheesecake Factory during the fourth quarter worth about $26,000. Quadrant Capital Group LLC boosted its position in shares of Cheesecake Factory by 48.4% in the 4th 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 grew its stake in shares of 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 acquiring an additional 1,064 shares during the last quarter. Finally, nVerses Capital LLC purchased a new stake in Cheesecake Factory during the 2nd quarter valued at about $67,000. 94.48% of the stock is owned by institutional investors.

Cheesecake Factory Trading Up 2.1 %

CAKE stock opened at $39.56 on Tuesday. The Cheesecake Factory Incorporated has a twelve month low of $28.58 and a twelve month high of $41.33. The stock has a market capitalization of $2.02 billion, a price-to-earnings ratio of 18.15, a price-to-earnings-growth ratio of 1.04 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 firm’s fifty day simple moving average is $37.91 and its two-hundred day simple moving average is $37.29.

Cheesecake Factory (NASDAQ:CAKE) last released its quarterly earnings results on Wednesday, July 31st. The restaurant operator reported $1.09 EPS for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $909.19 million. During the same period in the previous year, the company earned $0.88 EPS. The firm’s revenue for the quarter was up 4.4% compared to the same quarter last year. As a group, analysts anticipate that The Cheesecake Factory Incorporated will post 3.21 earnings per share for the current year.

Cheesecake Factory Dividend Announcement

The firm also recently declared 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 dividend on an annualized basis and a dividend yield of 2.73%. The ex-dividend date of this dividend was Wednesday, August 14th. Cheesecake Factory’s dividend payout ratio is currently 49.54%.

Wall Street Analysts Forecast Growth

CAKE has been the subject of a number of research analyst reports. Barclays lifted their price target on shares of Cheesecake Factory from $32.00 to $35.00 and gave the stock an “underweight” rating in a research note on Thursday, August 1st. Stephens restated an “overweight” rating and set a $50.00 price objective on shares of Cheesecake Factory in a research report on Thursday, August 1st. JPMorgan Chase & Co. lowered their price target on Cheesecake Factory from $40.00 to $38.00 and set an “underweight” rating on the stock in a report on Tuesday, August 6th. Wedbush reissued an “outperform” rating and set a $45.00 price objective on shares of Cheesecake Factory in a report on Thursday, August 1st. Finally, Robert W. Baird raised their price target on Cheesecake Factory from $37.00 to $40.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Three research 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. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $40.08.

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.