The Cheesecake Factory Incorporated (NASDAQ:CAKE) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lessened its stake in shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE) by 16.4% in the second quarter, according to its most recent filing with the SEC. The fund owned 858,841 shares of the restaurant operator’s stock after selling 168,216 shares during the period. Bank of New York Mellon Corp’s holdings in Cheesecake Factory were worth $33,744,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Louisiana State Employees Retirement System lifted its holdings in shares of Cheesecake Factory by 2.2% during the second quarter. Louisiana State Employees Retirement System now owns 23,600 shares of the restaurant operator’s stock valued at $927,000 after purchasing an additional 500 shares during the last quarter. Leeward Investments LLC MA raised its holdings in Cheesecake Factory by 5.6% during the 2nd quarter. Leeward Investments LLC MA now owns 230,535 shares of the restaurant operator’s stock worth $9,058,000 after buying an additional 12,213 shares during the period. Harbor Capital Advisors Inc. lifted its stake in Cheesecake Factory by 62.7% during the second quarter. Harbor Capital Advisors Inc. now owns 22,578 shares of the restaurant operator’s stock valued at $887,000 after buying an additional 8,704 shares in the last quarter. GAMMA Investing LLC lifted its stake in 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 buying an additional 1,064 shares in the last quarter. Finally, Delphi Management Inc. MA increased its position in shares of Cheesecake Factory by 4.1% in the first quarter. Delphi Management Inc. MA now owns 42,071 shares of the restaurant operator’s stock worth $1,521,000 after acquiring an additional 1,672 shares in the last quarter. 94.48% of the stock is owned by institutional investors.

Cheesecake Factory Price Performance

Shares of CAKE opened at $39.31 on Tuesday. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.32 and a current ratio of 0.43. The firm has a market cap of $2.00 billion, a PE ratio of 18.03, a PEG ratio of 1.13 and a beta of 1.51. The Cheesecake Factory Incorporated has a twelve month low of $28.58 and a twelve month high of $41.33. The firm’s 50 day moving average price is $38.04 and its 200 day moving average price is $37.03.

Cheesecake Factory (NASDAQ:CAKE) last released its quarterly earnings data 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. The business had revenue of $904.04 million during the quarter, compared to analyst estimates of $909.19 million. Cheesecake Factory had a net margin of 3.32% and a return on equity of 43.62%. Cheesecake Factory’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.88 EPS. As a group, research analysts expect that The Cheesecake Factory Incorporated will post 3.21 EPS for the current fiscal year.

Cheesecake Factory Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 27th. Stockholders of record on Wednesday, August 14th were issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.75%. The ex-dividend date was Wednesday, August 14th. Cheesecake Factory’s dividend payout ratio is 49.54%.

Wall Street Analyst Weigh In

Several brokerages recently commented on CAKE. JPMorgan Chase & Co. reduced their price target on shares of Cheesecake Factory from $40.00 to $38.00 and set an “underweight” rating for the company in a research report on Tuesday, August 6th. Wells Fargo & Company raised their target price on Cheesecake Factory from $36.00 to $38.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 1st. Stephens reissued an “overweight” rating and set a $50.00 price target on shares of Cheesecake Factory in a research report on Thursday, August 1st. Raymond James upgraded Cheesecake Factory from a “market perform” rating to an “outperform” rating and set a $42.00 price objective for the company in a research report on Thursday, May 9th. Finally, Bank of America upped their target price on Cheesecake Factory from $39.00 to $43.00 and gave the company a “neutral” rating in a report on Wednesday, May 15th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $40.08.

Cheesecake Factory 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.