49,304 Shares in The Cheesecake Factory Incorporated $CAKE Acquired by Deutsche Bank AG

by · The Markets Daily

Deutsche Bank AG purchased a new position in shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE – Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 49,304 shares of the restaurant operator’s stock, valued at approximately $3,922,000.

A number of other hedge funds have also recently modified their holdings of CAKE. Truist Financial Corp raised its holdings in Cheesecake Factory by 3.0% in the 4th quarter. Truist Financial Corp now owns 6,187 shares of the restaurant operator’s stock worth $312,000 after purchasing an additional 181 shares during the period. Oregon Public Employees Retirement Fund raised its stake in shares of Cheesecake Factory by 1.9% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 10,487 shares of the restaurant operator’s stock worth $529,000 after buying an additional 200 shares during the period. California State Teachers Retirement System lifted its position in shares of Cheesecake Factory by 0.5% during the 2nd quarter. California State Teachers Retirement System now owns 44,527 shares of the restaurant operator’s stock valued at $2,790,000 after buying an additional 203 shares in the last quarter. Money Concepts Capital Corp grew its stake in shares of Cheesecake Factory by 3.8% during the 1st quarter. Money Concepts Capital Corp now owns 5,802 shares of the restaurant operator’s stock valued at $318,000 after acquiring an additional 210 shares during the period. Finally, Mercer Global Advisors Inc. ADV increased its holdings in Cheesecake Factory by 5.9% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 4,642 shares of the restaurant operator’s stock worth $234,000 after acquiring an additional 260 shares in the last quarter. Institutional investors own 94.48% of the company’s stock.

Insiders Place Their Bets

In related news, Director Janice L. Meyer sold 1,958 shares of the firm’s stock in a transaction on Monday, August 17th. The shares were sold at an average price of $109.36, for a total value of $214,126.88. Following the completion of the transaction, the director directly owned 21,251 shares of the company’s stock, valued at approximately $2,324,009.36. This trade represents a 8.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Edie A. Ames sold 3,000 shares of the business’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $106.95, for a total transaction of $320,850.00. Following the completion of the sale, the director owned 10,000 shares in the company, valued at $1,069,500. This represents a 23.08% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 216,239 shares of company stock worth $22,463,500. Insiders own 8.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Jefferies Financial Group lowered shares of Cheesecake Factory from a “buy” rating to a “hold” rating and upped their price target for the stock from $75.00 to $88.00 in a research report on Wednesday, July 29th. Stephens reaffirmed a “positive” rating on shares of Cheesecake Factory in a report on Wednesday, July 29th. Weiss Ratings upgraded Cheesecake Factory from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, August 13th. Argus raised their price target on Cheesecake Factory from $72.00 to $110.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Finally, Morgan Stanley upgraded Cheesecake Factory from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $50.00 to $80.00 in a research report on Wednesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Cheesecake Factory has a consensus rating of “Hold” and an average target price of $81.00.

Check Out Our Latest Research Report on CAKE

Cheesecake Factory Price Performance

Shares of NASDAQ:CAKE opened at $113.49 on Wednesday. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.52 and a current ratio of 0.59. The firm has a market cap of $5.65 billion, a price-to-earnings ratio of 30.76, a P/E/G ratio of 2.05 and a beta of 1.00. The firm has a fifty day moving average price of $91.94 and a 200 day moving average price of $72.28. The Cheesecake Factory Incorporated has a fifty-two week low of $43.07 and a fifty-two week high of $118.46.

Cheesecake Factory (NASDAQ:CAKE – Get Free Report) last issued its quarterly earnings data on Tuesday, July 28th. The restaurant operator reported $1.44 earnings per share for the quarter, beating analysts’ consensus estimates of $1.18 by $0.26. Cheesecake Factory had a return on equity of 43.97% and a net margin of 4.61%.The firm had revenue of $1.03 billion during the quarter, compared to analyst estimates of $999.54 million. During the same quarter last year, the business posted $1.16 earnings per share. The business’s quarterly revenue was up 7.7% compared to the same quarter last year. As a group, sell-side analysts expect that The Cheesecake Factory Incorporated will post 4.47 earnings per share for the current fiscal year.

Cheesecake Factory Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 25th. Shareholders of record on Tuesday, August 11th were paid a $0.30 dividend. The ex-dividend date of this dividend was Tuesday, August 11th. This represents a $1.20 dividend on an annualized basis and a yield of 1.1%. Cheesecake Factory’s payout ratio is presently 32.52%.

Cheesecake Factory Profile

(Free Report)

The Cheesecake Factory Incorporated (NASDAQ:CAKE) is an American restaurant company and distributor renowned for its full-service casual-dining concept and specialty cheesecakes. Headquartered in Calabasas Hills, California, the company operates more than 200 restaurants under The Cheesecake Factory® brand across the United States, Puerto Rico and select international markets. In addition to sit-down dining, Cheesecake Factory franchised locations offer catering and take-out services, while a separate manufacturing arm supplies branded cheesecakes and desserts to supermarkets, hotels and other foodservice operators.

The origins of the brand trace back to a small cheesecake bakery founded in Detroit in the 1940s.

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