Penserra Capital Management LLC Acquires New Position in The Cheesecake Factory Incorporated $CAKE

Penserra Capital Management LLC bought a new position in The Cheesecake Factory Incorporated (NASDAQ:CAKE) during the second quarter, Holdings Channel.com reports. The fund bought 2,196 shares of the restaurant operator’s stock, valued at approximately $137,000.

A number of other institutional investors have also modified their holdings of CAKE. Hussman Strategic Advisors Inc. boosted its holdings in shares of Cheesecake Factory by 15.4% in the second quarter. Hussman Strategic Advisors Inc. now owns 31,500 shares of the restaurant operator’s stock valued at $1,974,000 after purchasing an additional 4,200 shares during the period. Aviance Capital Partners LLC lifted its holdings in shares of Cheesecake Factory by 6.5% in the 2nd quarter. Aviance Capital Partners LLC now owns 27,434 shares of the restaurant operator’s stock worth $1,719,000 after buying an additional 1,683 shares during the period. Atria Investments Inc grew its position in shares of Cheesecake Factory by 3.9% during the 2nd quarter. Atria Investments Inc now owns 9,261 shares of the restaurant operator’s stock worth $580,000 after buying an additional 349 shares in the last quarter. Keybank National Association OH increased its stake in shares of Cheesecake Factory by 6.5% during the second quarter. Keybank National Association OH now owns 7,789 shares of the restaurant operator’s stock valued at $488,000 after buying an additional 478 shares during the period. Finally, Y Intercept Hong Kong Ltd bought a new stake in shares of Cheesecake Factory in the second quarter valued at about $230,000. 94.48% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Morgan Stanley set a $49.00 target price on shares of Cheesecake Factory in a research report on Wednesday, October 29th. Barclays lowered their target price on Cheesecake Factory from $50.00 to $48.00 and set an “underweight” rating for the company in a report on Wednesday, October 29th. Oppenheimer set a $70.00 price target on Cheesecake Factory in a report on Wednesday, October 29th. Bank of America decreased their price objective on Cheesecake Factory from $61.00 to $56.00 and set a “neutral” rating for the company in a research note on Wednesday, October 29th. Finally, Raymond James Financial reiterated an “outperform” rating and issued a $60.00 target price (down previously from $70.00) on shares of Cheesecake Factory in a research note on Wednesday, October 29th. Ten analysts have rated the stock with a Buy rating, five have issued a Hold rating and four have issued a Sell rating to the company. According to MarketBeat.com, Cheesecake Factory currently has a consensus rating of “Hold” and an average price target of $59.18.

Cheesecake Factory Stock Down 0.3%

Shares of NASDAQ CAKE opened at $45.89 on Friday. The company has a market capitalization of $2.29 billion, a P/E ratio of 13.91, a P/E/G ratio of 1.21 and a beta of 1.08. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.51 and a quick ratio of 0.42. The company has a 50 day simple moving average of $53.48 and a 200-day simple moving average of $57.32. The Cheesecake Factory Incorporated has a 1 year low of $42.69 and a 1 year high of $69.70.

Cheesecake Factory (NASDAQ:CAKE) last released its quarterly earnings data on Tuesday, October 28th. The restaurant operator reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.08. The firm had revenue of $907.23 million for the quarter, compared to analysts’ expectations of $912.95 million. Cheesecake Factory had a return on equity of 47.25% and a net margin of 4.33%.The firm’s quarterly revenue was up 4.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.58 earnings per share. On average, equities research analysts predict that The Cheesecake Factory Incorporated will post 3.71 earnings per share for the current year.

Cheesecake Factory Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 25th. Shareholders of record on Tuesday, November 11th will be given a $0.27 dividend. The ex-dividend date of this dividend is Monday, November 10th. This represents a $1.08 dividend on an annualized basis and a yield of 2.4%. Cheesecake Factory’s dividend payout ratio is presently 32.73%.

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.