Inspire Investing LLC Increases Stake in The Cheesecake Factory Incorporated (NASDAQ:CAKE)

Inspire Investing LLC increased its position in shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE) by 11.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 11,343 shares of the restaurant operator’s stock after purchasing an additional 1,158 shares during the period. Inspire Investing LLC’s holdings in Cheesecake Factory were worth $460,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC lifted its stake in Cheesecake Factory by 2,360.7% in the first 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. New Century Financial Group LLC bought a new stake in shares of Cheesecake Factory during the 1st quarter worth approximately $1,108,000. Texas Permanent School Fund Corp boosted its holdings in Cheesecake Factory by 1.4% during the 1st quarter. Texas Permanent School Fund Corp now owns 40,881 shares of the restaurant operator’s stock valued at $1,478,000 after acquiring an additional 547 shares during the period. Duality Advisers LP bought a new position in Cheesecake Factory in the 1st quarter valued at $1,829,000. Finally, Sciencast Management LP purchased a new stake in Cheesecake Factory in the first quarter worth $400,000. 94.48% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on CAKE shares. JPMorgan Chase & Co. lowered their target price on shares of Cheesecake Factory from $40.00 to $38.00 and set an “underweight” rating for the company in a research note on Tuesday, August 6th. Wells Fargo & Company upped their target price on shares of Cheesecake Factory from $36.00 to $38.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 1st. Barclays lifted their price target on shares of Cheesecake Factory from $32.00 to $35.00 and gave the company an “underweight” rating in a research note on Thursday, August 1st. Wedbush reissued an “outperform” rating and issued a $45.00 price objective on shares of Cheesecake Factory in a research note on Thursday, August 1st. Finally, Robert W. Baird raised their price objective on Cheesecake Factory from $37.00 to $40.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $41.55.

Cheesecake Factory Stock Up 3.6 %

Shares of Cheesecake Factory stock opened at $40.59 on Wednesday. The company has a quick ratio of 0.32, a current ratio of 0.43 and a debt-to-equity ratio of 1.26. The company has a market cap of $2.07 billion, a P/E ratio of 18.62, a PEG ratio of 1.13 and a beta of 1.49. The firm’s 50 day moving average price is $38.70 and its 200-day moving average price is $37.79. The Cheesecake Factory Incorporated has a 52-week low of $29.19 and a 52-week high of $42.82.

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

Cheesecake Factory Announces Dividend

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. The ex-dividend date was Wednesday, August 14th. This represents a $1.08 annualized dividend and a dividend yield of 2.66%. Cheesecake Factory’s dividend payout ratio (DPR) is currently 49.54%.

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.