The Cheesecake Factory Incorporated (NASDAQ:CAKE) Stake Boosted by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. grew its stake in shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE) by 7.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 435,307 shares of the restaurant operator’s stock after purchasing an additional 28,962 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.85% of Cheesecake Factory worth $17,103,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in CAKE. Allspring Global Investments Holdings LLC grew its holdings in shares of Cheesecake Factory by 2,360.7% during the first quarter. Allspring Global Investments Holdings LLC now owns 689 shares of the restaurant operator’s stock valued at $25,000 after purchasing an additional 661 shares during the last quarter. Ables Iannone Moore & Associates Inc. bought a new position in shares of Cheesecake Factory during the fourth quarter valued at approximately $26,000. Quadrant Capital Group LLC grew its holdings in shares of Cheesecake Factory by 48.4% during the fourth quarter. Quadrant Capital Group LLC now owns 1,566 shares of the restaurant operator’s stock valued at $55,000 after purchasing an additional 511 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Cheesecake Factory by 276.4% during the second quarter. GAMMA Investing LLC now owns 1,449 shares of the restaurant operator’s stock valued at $57,000 after purchasing an additional 1,064 shares during the last quarter. Finally, nVerses Capital LLC bought a new position in shares of Cheesecake Factory during the second quarter valued at approximately $67,000. 94.48% of the stock is owned by institutional investors.

Cheesecake Factory Stock Performance

CAKE opened at $39.56 on Tuesday. The firm has a market cap of $2.02 billion, a PE ratio of 18.15, a P/E/G 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 business has a fifty day simple moving average of $37.91 and a 200-day simple moving average of $37.29. The Cheesecake Factory Incorporated has a fifty-two week low of $28.58 and a fifty-two week high of $41.33.

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. The business had revenue of $904.04 million during the quarter, compared to analyst estimates of $909.19 million. Cheesecake Factory had a return on equity of 43.62% and a net margin of 3.32%. The company’s revenue was up 4.4% compared to the same quarter last year. During the same period last year, the company posted $0.88 EPS. As a group, equities analysts predict that The Cheesecake Factory Incorporated will post 3.21 EPS for the current fiscal year.

Cheesecake Factory Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 27th. Shareholders of record on Wednesday, August 14th were paid a dividend of $0.27 per share. The ex-dividend date of this dividend was Wednesday, August 14th. This represents a $1.08 annualized dividend and a yield of 2.73%. Cheesecake Factory’s dividend payout ratio (DPR) is presently 49.54%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on CAKE shares. Stephens reissued 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. decreased their price objective on Cheesecake Factory from $40.00 to $38.00 and set an “underweight” rating for the company in a report on Tuesday, August 6th. Wedbush reissued an “outperform” rating and issued a $45.00 price objective on shares of Cheesecake Factory in a report on Thursday, August 1st. Barclays increased 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. Finally, Robert W. Baird increased their price objective on Cheesecake Factory from $37.00 to $40.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. Three 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. According to data from MarketBeat, the company has an average rating of “Hold” and an average 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.