Truist Financial Corp Sells 2,064 Shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE)

Truist Financial Corp reduced its position in The Cheesecake Factory Incorporated (NASDAQ:CAKE) by 17.9% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,462 shares of the restaurant operator’s stock after selling 2,064 shares during the period. Truist Financial Corp’s holdings in Cheesecake Factory were worth $372,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Allspring Global Investments Holdings LLC lifted its holdings in shares of Cheesecake Factory by 2,360.7% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 689 shares of the restaurant operator’s stock worth $25,000 after purchasing an additional 661 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Cheesecake Factory by 276.4% in the 2nd quarter. GAMMA Investing LLC now owns 1,449 shares of the restaurant operator’s stock worth $57,000 after purchasing an additional 1,064 shares in the last quarter. nVerses Capital LLC bought a new position in shares of Cheesecake Factory in the 2nd quarter worth $67,000. SG Americas Securities LLC bought a new position in shares of Cheesecake Factory in the 1st quarter worth $121,000. Finally, Wealth Alliance bought a new position in shares of Cheesecake Factory in the 2nd quarter worth $213,000. 94.48% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on CAKE. JPMorgan Chase & Co. lowered their price target on Cheesecake Factory from $40.00 to $38.00 and set an “underweight” rating for the company in a research report on Tuesday, August 6th. Citigroup increased their price target on Cheesecake Factory from $46.00 to $51.00 and gave the company a “buy” rating in a research report on Friday, October 4th. Barclays increased their price target on Cheesecake Factory from $32.00 to $35.00 and gave the company an “underweight” rating in a research report on Thursday, August 1st. Robert W. Baird increased their price target on Cheesecake Factory from $37.00 to $40.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. Finally, Wedbush reissued an “outperform” rating and issued a $45.00 price target on shares of Cheesecake Factory in a research report on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $41.55.

Cheesecake Factory Trading Up 0.9 %

Shares of Cheesecake Factory stock opened at $42.12 on Friday. The Cheesecake Factory Incorporated has a 1 year low of $29.27 and a 1 year high of $42.82. The firm has a market cap of $2.15 billion, a PE ratio of 19.32, a P/E/G ratio of 1.13 and a beta of 1.49. The stock has a fifty day moving average price of $38.97 and a 200-day moving average price of $37.85. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.43 and a quick ratio of 0.32.

Cheesecake Factory (NASDAQ:CAKE) last announced its 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 firm had revenue of $904.04 million during the quarter, compared to analyst estimates of $909.19 million. During the same period last year, the firm posted $0.88 EPS. The business’s revenue was up 4.4% compared to the same quarter last year. Equities 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 disclosed a quarterly dividend, which was paid on Tuesday, August 27th. Investors of record on Wednesday, August 14th were issued a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 2.56%. The ex-dividend date of this dividend was Wednesday, August 14th. Cheesecake Factory’s dividend payout ratio (DPR) is currently 49.54%.

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.