Intech Investment Management LLC Purchases 55,185 Shares of The Cheesecake Factory Incorporated $CAKE

Intech Investment Management LLC boosted its position in The Cheesecake Factory Incorporated (NASDAQ:CAKE) by 131.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 97,055 shares of the restaurant operator’s stock after purchasing an additional 55,185 shares during the quarter. Intech Investment Management LLC owned about 0.19% of Cheesecake Factory worth $6,081,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. Ameritas Advisory Services LLC bought a new position in shares of Cheesecake Factory in the second quarter worth $28,000. Parkside Financial Bank & Trust boosted its stake in Cheesecake Factory by 39.2% during the second quarter. Parkside Financial Bank & Trust now owns 632 shares of the restaurant operator’s stock valued at $40,000 after buying an additional 178 shares during the period. SBI Securities Co. Ltd. grew its position in Cheesecake Factory by 38.5% during the first quarter. SBI Securities Co. Ltd. now owns 1,244 shares of the restaurant operator’s stock worth $61,000 after buying an additional 346 shares in the last quarter. Bayforest Capital Ltd purchased a new position in Cheesecake Factory during the first quarter worth about $72,000. Finally, Penserra Capital Management LLC bought a new position in Cheesecake Factory in the 2nd quarter worth about $137,000. 94.48% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have weighed in on CAKE shares. JPMorgan Chase & Co. lowered their price target on Cheesecake Factory from $57.00 to $52.00 and set an “underweight” rating on the stock in a report on Thursday, October 30th. Weiss Ratings restated a “buy (b)” rating on shares of Cheesecake Factory in a research report on Wednesday, October 8th. Barclays lowered their target price on shares of Cheesecake Factory from $50.00 to $48.00 and set an “underweight” rating on the stock in a research note on Wednesday, October 29th. Piper Sandler boosted their price target on shares of Cheesecake Factory from $54.00 to $62.00 and gave the stock a “neutral” rating in a research note on Monday, August 4th. Finally, Raymond James Financial reissued an “outperform” rating and issued a $60.00 price target (down previously from $70.00) on shares of Cheesecake Factory in a report on Wednesday, October 29th. Ten investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat.com, Cheesecake Factory presently has an average rating of “Hold” and an average price target of $59.18.

Cheesecake Factory Stock Down 2.1%

Shares of CAKE opened at $44.94 on Monday. The Cheesecake Factory Incorporated has a 1 year low of $42.69 and a 1 year high of $69.70. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.51 and a quick ratio of 0.42. The stock has a 50 day simple moving average of $53.17 and a two-hundred day simple moving average of $57.38. The firm has a market cap of $2.24 billion, a P/E ratio of 13.62, a P/E/G ratio of 1.21 and a beta of 1.08.

Cheesecake Factory (NASDAQ:CAKE) last posted its quarterly earnings results on Tuesday, October 28th. The restaurant operator reported $0.68 EPS for the quarter, topping the consensus estimate of $0.60 by $0.08. Cheesecake Factory had a net margin of 4.33% and a return on equity of 47.25%. The firm had revenue of $907.23 million for the quarter, compared to the consensus estimate of $912.95 million. During the same period last year, the firm posted $0.58 earnings per share. The business’s revenue was up 4.8% compared to the same quarter last year. On average, analysts forecast that The Cheesecake Factory Incorporated will post 3.71 earnings per share for the current fiscal year.

Cheesecake Factory Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 25th. Shareholders of record on Tuesday, November 11th will be paid a $0.27 dividend. The ex-dividend date of this dividend is Monday, November 10th. This represents a $1.08 annualized dividend and a yield of 2.4%. Cheesecake Factory’s payout ratio is currently 32.73%.

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.