5,431 Shares in The Cheesecake Factory Incorporated (NASDAQ:CAKE) Bought by Wealth Alliance

Wealth Alliance acquired a new stake in shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 5,431 shares of the restaurant operator’s stock, valued at approximately $213,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CAKE. Allspring Global Investments Holdings LLC raised its position in shares of Cheesecake Factory by 2,360.7% during 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 during the last quarter. Ables Iannone Moore & Associates Inc. purchased a new stake in Cheesecake Factory during the 4th quarter worth approximately $26,000. Quadrant Capital Group LLC raised 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 acquiring an additional 511 shares during the last quarter. GAMMA Investing LLC raised 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 acquiring an additional 1,064 shares during the last quarter. Finally, nVerses Capital LLC purchased a new position in shares of Cheesecake Factory in the second quarter valued at approximately $67,000. 94.48% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently commented on CAKE. Wedbush reiterated an “outperform” rating and set a $45.00 price target on shares of Cheesecake Factory in a research report on Thursday, August 1st. Robert W. Baird upped their target price on shares of Cheesecake Factory from $37.00 to $40.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. Stephens reissued an “overweight” rating and issued a $50.00 price target on shares of Cheesecake Factory in a research note on Thursday, August 1st. JPMorgan Chase & Co. lowered their price target on shares of Cheesecake Factory from $40.00 to $38.00 and set an “underweight” rating on the stock in a research report on Tuesday, August 6th. Finally, Wells Fargo & Company increased their price objective on shares of Cheesecake Factory from $36.00 to $38.00 and gave the company an “equal weight” rating in a report on Thursday, August 1st. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $40.08.

Cheesecake Factory Stock Performance

NASDAQ CAKE opened at $38.73 on Friday. The stock has a fifty day simple moving average of $37.88 and a 200-day simple moving average of $37.23. The company has a current ratio of 0.43, a quick ratio of 0.32 and a debt-to-equity ratio of 1.26. The stock has a market cap of $1.97 billion, a PE ratio of 17.77, a P/E/G ratio of 1.04 and a beta of 1.50. The Cheesecake Factory Incorporated has a twelve month low of $28.58 and a twelve month high of $41.33.

Cheesecake Factory (NASDAQ:CAKE) last announced its quarterly earnings results on Wednesday, July 31st. The restaurant operator reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $0.09. Cheesecake Factory had a net margin of 3.32% and a return on equity of 43.62%. The business had revenue of $904.04 million during the quarter, compared to analysts’ expectations of $909.19 million. During the same period last year, the business earned $0.88 earnings per share. The business’s revenue for the quarter was up 4.4% on a year-over-year basis. Equities analysts anticipate that The Cheesecake Factory Incorporated will post 3.21 earnings per share for the current year.

Cheesecake Factory Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 27th. Shareholders of record on Wednesday, August 14th were given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date of this dividend was Wednesday, August 14th. Cheesecake Factory’s payout ratio is 49.54%.

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.