Stifel Financial Corp Grows Stake in The Cheesecake Factory Incorporated (NASDAQ:CAKE)

Stifel Financial Corp raised its position in shares of The Cheesecake Factory Incorporated (NASDAQ:CAKEFree Report) by 4.4% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 79,148 shares of the restaurant operator’s stock after purchasing an additional 3,342 shares during the period. Stifel Financial Corp owned about 0.16% of Cheesecake Factory worth $3,209,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in CAKE. HighTower Advisors LLC raised its holdings in shares of Cheesecake Factory by 2.7% in the third quarter. HighTower Advisors LLC now owns 39,989 shares of the restaurant operator’s stock valued at $1,616,000 after acquiring an additional 1,035 shares in the last quarter. Centiva Capital LP purchased a new position in Cheesecake Factory during the 3rd quarter valued at about $329,000. Fred Alger Management LLC raised its holdings in shares of Cheesecake Factory by 159.6% in the 3rd quarter. Fred Alger Management LLC now owns 97,765 shares of the restaurant operator’s stock valued at $3,964,000 after purchasing an additional 60,100 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Cheesecake Factory by 7.2% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,090 shares of the restaurant operator’s stock worth $450,000 after purchasing an additional 749 shares during the period. Finally, Glenmede Trust Co. NA bought a new position in shares of Cheesecake Factory during the third quarter valued at approximately $223,000. 94.48% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Cheesecake Factory

In other news, insider Keith Carango sold 13,095 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $49.88, for a total value of $653,178.60. Following the sale, the insider now owns 14,977 shares in the company, valued at $747,052.76. This represents a 46.65 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 8.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on CAKE shares. StockNews.com downgraded shares of Cheesecake Factory from a “buy” rating to a “hold” rating in a research note on Thursday, November 28th. Robert W. Baird boosted their price target on Cheesecake Factory from $40.00 to $47.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. UBS Group raised their price objective on Cheesecake Factory from $32.00 to $36.00 and gave the company a “sell” rating in a research report on Friday, October 25th. The Goldman Sachs Group started coverage on Cheesecake Factory in a research note on Thursday, December 5th. They issued a “buy” rating and a $56.00 target price on the stock. Finally, Citigroup increased their price target on shares of Cheesecake Factory from $46.00 to $51.00 and gave the company a “buy” rating in a research report on Friday, October 4th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $47.93.

Check Out Our Latest Stock Analysis on CAKE

Cheesecake Factory Price Performance

NASDAQ CAKE opened at $50.39 on Wednesday. The stock’s fifty day moving average price is $46.34 and its 200 day moving average price is $41.32. The Cheesecake Factory Incorporated has a 1 year low of $31.24 and a 1 year high of $52.10. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.44 and a quick ratio of 0.33. The company has a market cap of $2.57 billion, a price-to-earnings ratio of 19.16, a PEG ratio of 1.37 and a beta of 1.48.

Cheesecake Factory (NASDAQ:CAKEGet Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The restaurant operator reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.11. The business had revenue of $865.50 million for the quarter, compared to analyst estimates of $866.13 million. Cheesecake Factory had a return on equity of 43.90% and a net margin of 3.63%. The company’s revenue was up 4.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.39 earnings per share. As a group, equities research analysts forecast that The Cheesecake Factory Incorporated will post 3.31 earnings per share for the current year.

Cheesecake Factory Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 26th. Stockholders of record on Wednesday, November 13th were issued a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 2.14%. The ex-dividend date was Wednesday, November 13th. Cheesecake Factory’s dividend payout ratio (DPR) is currently 41.06%.

Cheesecake Factory Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Cheesecake Factory (NASDAQ:CAKE)

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