Envestnet Asset Management Inc. Has $17.10 Million Position in The Cheesecake Factory Incorporated (NASDAQ:CAKE)

Envestnet Asset Management Inc. increased its stake in The Cheesecake Factory Incorporated (NASDAQ:CAKE) by 7.1% in the 2nd quarter, Holdings Channel reports. The firm owned 435,307 shares of the restaurant operator’s stock after purchasing an additional 28,962 shares during the period. Envestnet Asset Management Inc.’s holdings in Cheesecake Factory were worth $17,103,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC lifted its holdings in Cheesecake Factory by 2,360.7% in 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. bought a new stake in shares of Cheesecake Factory in the fourth quarter valued at approximately $26,000. Quadrant Capital Group LLC grew its stake in shares of Cheesecake Factory by 48.4% in the fourth quarter. Quadrant Capital Group LLC now owns 1,566 shares of the restaurant operator’s stock worth $55,000 after acquiring an additional 511 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Cheesecake Factory by 276.4% in the second quarter. GAMMA Investing LLC now owns 1,449 shares of the restaurant operator’s stock worth $57,000 after acquiring an additional 1,064 shares during the last quarter. Finally, nVerses Capital LLC acquired a new stake in shares of Cheesecake Factory in the second quarter worth $67,000. 94.48% of the stock is currently owned by institutional investors and hedge funds.

Cheesecake Factory Stock Up 2.1 %

Shares of NASDAQ CAKE opened at $39.56 on Tuesday. The stock has a market cap of $2.02 billion, a PE ratio of 18.15, a PEG ratio of 1.04 and a beta of 1.50. The business has a fifty day moving average of $37.91 and a two-hundred day moving average of $37.29. The Cheesecake Factory Incorporated has a 52-week low of $28.58 and a 52-week high of $41.33. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.32 and a current ratio of 0.43.

Cheesecake Factory (NASDAQ:CAKE) last issued its quarterly earnings data 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 company had revenue of $904.04 million during the quarter, compared to analysts’ expectations of $909.19 million. Cheesecake Factory had a return on equity of 43.62% and a net margin of 3.32%. The business’s revenue was up 4.4% on a year-over-year basis. During the same period last year, the business earned $0.88 earnings per share. As a group, equities research analysts expect that The Cheesecake Factory Incorporated will post 3.21 earnings per share for the current fiscal year.

Cheesecake Factory Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 27th. Investors of record on Wednesday, August 14th were issued a $0.27 dividend. The ex-dividend date was Wednesday, August 14th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.73%. Cheesecake Factory’s dividend payout ratio is 49.54%.

Analyst Ratings Changes

CAKE has been the topic of several research analyst reports. Robert W. Baird raised their price objective 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. Wedbush restated an “outperform” rating and issued a $45.00 price objective on shares of Cheesecake Factory in a research note on Thursday, August 1st. Stephens restated an “overweight” rating and issued a $50.00 price objective on shares of Cheesecake Factory in a research note on Thursday, August 1st. Wells Fargo & Company lifted their price target 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. Finally, JPMorgan Chase & Co. decreased 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 note on Tuesday, August 6th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat, Cheesecake Factory currently has an average rating of “Hold” and a consensus price target of $40.08.

About Cheesecake Factory

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.