Bridgewater Associates LP Purchases New Stake in The Cheesecake Factory Incorporated (CAKE)

Bridgewater Associates LP purchased a new position in shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 12,056 shares of the restaurant operator’s stock, valued at approximately $606,000.

A number of other institutional investors also recently added to or reduced their stakes in CAKE. Zurcher Kantonalbank Zurich Cantonalbank increased its position in The Cheesecake Factory by 32.2% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,621 shares of the restaurant operator’s stock worth $103,000 after buying an additional 395 shares in the last quarter. Parallel Advisors LLC increased its position in The Cheesecake Factory by 13.5% during the first quarter. Parallel Advisors LLC now owns 1,974 shares of the restaurant operator’s stock worth $132,000 after buying an additional 235 shares in the last quarter. Victory Capital Management Inc. increased its position in The Cheesecake Factory by 17.6% during the second quarter. Victory Capital Management Inc. now owns 3,216 shares of the restaurant operator’s stock worth $162,000 after buying an additional 482 shares in the last quarter. Riverhead Capital Management LLC increased its position in The Cheesecake Factory by 105.5% during the second quarter. Riverhead Capital Management LLC now owns 3,493 shares of the restaurant operator’s stock worth $176,000 after buying an additional 1,793 shares in the last quarter. Finally, Neuburgh Advisers LLC increased its position in The Cheesecake Factory by 1.1% during the first quarter. Neuburgh Advisers LLC now owns 3,264 shares of the restaurant operator’s stock worth $207,000 after buying an additional 34 shares in the last quarter. 96.38% of the stock is owned by institutional investors.

CAKE has been the subject of several recent research reports. Argus downgraded The Cheesecake Factory from a “buy” rating to a “hold” rating in a research report on Tuesday, June 20th. Barclays PLC dropped their price target on The Cheesecake Factory from $56.00 to $53.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 19th. BidaskClub downgraded The Cheesecake Factory from a “sell” rating to a “strong sell” rating in a research report on Thursday, July 27th. Robert W. Baird reissued a “hold” rating and set a $49.00 price target on shares of The Cheesecake Factory in a research report on Friday, September 8th. Finally, Maxim Group reissued a “buy” rating and set a $57.00 price target on shares of The Cheesecake Factory in a research report on Tuesday, September 12th. Three analysts have rated the stock with a sell rating, twelve have given a hold rating and five have given a buy rating to the company’s stock. The Cheesecake Factory presently has a consensus rating of “Hold” and an average target price of $54.44.

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Shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE) opened at 40.75 on Friday. The stock’s 50 day moving average price is $42.74 and its 200 day moving average price is $54.25. The Cheesecake Factory Incorporated has a 12-month low of $38.34 and a 12-month high of $67.14. The firm has a market cap of $1.87 billion, a PE ratio of 14.25 and a beta of 0.34.

The Cheesecake Factory (NASDAQ:CAKE) last announced its earnings results on Wednesday, August 2nd. The restaurant operator reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.02. The Cheesecake Factory had a net margin of 6.10% and a return on equity of 22.92%. The company had revenue of $569.87 million for the quarter, compared to the consensus estimate of $573.12 million. During the same period in the previous year, the business earned $0.78 EPS. The company’s revenue was up 2.0% on a year-over-year basis. On average, equities research analysts predict that The Cheesecake Factory Incorporated will post $2.66 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 29th. Shareholders of record on Wednesday, August 16th were paid a dividend of $0.29 per share. This is an increase from The Cheesecake Factory’s previous quarterly dividend of $0.24. This represents a $1.16 annualized dividend and a yield of 2.85%. The ex-dividend date was Monday, August 14th. The Cheesecake Factory’s payout ratio is 40.70%.

The Cheesecake Factory Company Profile

The Cheesecake Factory Incorporated is engaged in the restaurant and bakery business. As of March 2, 2017, the Company operated 208 Company-owned restaurants: 194 under The Cheesecake Factory mark, 13 under the Grand Lux Cafe mark and one under the Rock Sugar Pan Asian Kitchen mark. The Company’s segments include The Cheesecake Factory restaurants, and other.

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Institutional Ownership by Quarter for The Cheesecake Factory (NASDAQ:CAKE)

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