Lombard Odier Asset Management USA Corp Buys New Shares in The Cheesecake Factory Incorporated (NASDAQ:CAKE)

Lombard Odier Asset Management USA Corp bought a new position in shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE) during the 2nd quarter, Holdings Channel.com reports. The firm bought 16,063 shares of the restaurant operator’s stock, valued at approximately $631,000.

A number of other hedge funds have also recently added to or reduced their stakes in the business. IPG Investment Advisors LLC grew its holdings in shares of Cheesecake Factory by 104.7% during the 4th quarter. IPG Investment Advisors LLC now owns 151,695 shares of the restaurant operator’s stock worth $5,311,000 after purchasing an additional 77,575 shares during the period. Capstone Investment Advisors LLC acquired a new stake in shares of Cheesecake Factory in the fourth quarter worth $727,000. Campbell & CO Investment Adviser LLC purchased a new position in shares of Cheesecake Factory in the 4th quarter valued at $2,532,000. Norges Bank acquired a new position in shares of Cheesecake Factory during the 4th quarter valued at $11,729,000. Finally, Seven Eight Capital LP boosted its position in Cheesecake Factory by 231.4% during the 4th quarter. Seven Eight Capital LP now owns 30,086 shares of the restaurant operator’s stock worth $1,053,000 after purchasing an additional 21,007 shares during the period. 94.48% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have commented on CAKE shares. JPMorgan Chase & Co. reduced their price objective on Cheesecake Factory from $40.00 to $38.00 and set an “underweight” rating on the stock in a research note on Tuesday, August 6th. Stephens restated an “overweight” rating and issued a $50.00 price target on shares of Cheesecake Factory in a report on Thursday, August 1st. Barclays increased their price objective on shares of Cheesecake Factory from $32.00 to $35.00 and gave the company an “underweight” rating in a research report on Thursday, August 1st. Wells Fargo & Company upped their target price on shares of Cheesecake Factory from $36.00 to $38.00 and gave the company an “equal weight” rating in a research note on Thursday, August 1st. Finally, Robert W. Baird lifted their price target on shares of Cheesecake Factory from $37.00 to $40.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $40.08.

Cheesecake Factory Stock Down 1.2 %

CAKE stock opened at $38.73 on Monday. The firm has a market cap of $1.97 billion, a PE ratio of 17.77, a PEG ratio of 1.04 and a beta of 1.50. The company has a fifty day simple moving average of $37.89 and a 200 day simple moving average of $37.27. The Cheesecake Factory Incorporated has a 1 year low of $28.58 and a 1 year high of $41.33. The company has a current ratio of 0.43, a quick ratio of 0.32 and a debt-to-equity ratio of 1.26.

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

Cheesecake Factory Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 27th. Stockholders of record on Wednesday, August 14th were paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.79%. The ex-dividend date was Wednesday, August 14th. Cheesecake Factory’s dividend 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.