The Cheesecake Factory Incorporated (NASDAQ:CAKE) Shares Acquired by Aviance Capital Partners LLC

Aviance Capital Partners LLC boosted its position in The Cheesecake Factory Incorporated (NASDAQ:CAKE) by 75.2% during the 3rd quarter, HoldingsChannel reports. The firm owned 17,044 shares of the restaurant operator’s stock after buying an additional 7,317 shares during the quarter. Aviance Capital Partners LLC’s holdings in Cheesecake Factory were worth $691,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC increased its holdings in shares of Cheesecake Factory by 2,360.7% during the first quarter. Allspring Global Investments Holdings LLC now owns 689 shares of the restaurant operator’s stock valued at $25,000 after purchasing an additional 661 shares during the period. GAMMA Investing LLC increased its stake in Cheesecake Factory by 276.4% during the 2nd quarter. GAMMA Investing LLC now owns 1,449 shares of the restaurant operator’s stock valued at $57,000 after buying an additional 1,064 shares during the period. nVerses Capital LLC bought a new stake in shares of Cheesecake Factory during the 2nd quarter worth about $67,000. SG Americas Securities LLC bought a new stake in shares of Cheesecake Factory during the 1st quarter worth about $121,000. Finally, Wealth Alliance acquired a new stake in shares of Cheesecake Factory in the 2nd quarter worth approximately $213,000. 94.48% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CAKE has been the topic of several recent analyst reports. Wedbush boosted their target price on Cheesecake Factory from $52.00 to $59.00 and gave the stock an “outperform” rating in a report on Thursday, November 14th. Citigroup boosted their price objective on Cheesecake Factory from $46.00 to $51.00 and gave the stock a “buy” rating in a research note on Friday, October 4th. Robert W. Baird lifted their target price on Cheesecake Factory from $40.00 to $47.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Barclays boosted their price target on shares of Cheesecake Factory from $38.00 to $44.00 and gave the stock an “underweight” rating in a research report on Wednesday, October 30th. Finally, Bank of America lifted their price objective on shares of Cheesecake Factory from $47.00 to $49.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Three investment 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 data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $44.75.

Cheesecake Factory Stock Performance

Shares of CAKE stock opened at $46.57 on Wednesday. The company has a market capitalization of $2.38 billion, a price-to-earnings ratio of 17.71, a P/E/G ratio of 1.32 and a beta of 1.47. The Cheesecake Factory Incorporated has a 1-year low of $30.96 and a 1-year high of $50.75. The company has a current ratio of 0.44, a quick ratio of 0.33 and a debt-to-equity ratio of 1.19. The stock’s fifty day simple moving average is $42.33 and its 200-day simple moving average is $39.66.

Cheesecake Factory (NASDAQ:CAKE) last released its earnings results on Tuesday, October 29th. The restaurant operator reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.11. The company had revenue of $865.50 million for the quarter, compared to analysts’ expectations of $866.13 million. Cheesecake Factory had a return on equity of 43.90% and a net margin of 3.63%. The business’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.39 EPS. On average, sell-side analysts predict that The Cheesecake Factory Incorporated will post 3.3 earnings per share for the current fiscal year.

Cheesecake Factory Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 26th. Stockholders of record on Wednesday, November 13th will be issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 2.32%. The ex-dividend date is Wednesday, November 13th. Cheesecake Factory’s dividend payout ratio is currently 41.06%.

Insider Activity

In related news, insider Keith Carango sold 13,095 shares of Cheesecake Factory stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $49.88, for a total transaction of $653,178.60. Following the completion of the sale, the insider now owns 14,977 shares of the company’s stock, valued at approximately $747,052.76. This trade represents a 46.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 8.10% of the stock is currently owned by corporate insiders.

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.