The Manufacturers Life Insurance Company Invests $1.73 Million in The Cheesecake Factory Incorporated $CAKE

The Manufacturers Life Insurance Company bought a new stake in The Cheesecake Factory Incorporated (NASDAQ:CAKE) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 21,761 shares of the restaurant operator’s stock, valued at approximately $1,731,000.

Other institutional investors also recently bought and sold shares of the company. Truist Financial Corp increased its stake 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 boosted its stake in shares of Cheesecake Factory by 1.9% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 10,487 shares of the restaurant operator’s stock valued at $529,000 after purchasing an additional 200 shares during the period. California State Teachers Retirement System boosted its stake in shares of Cheesecake Factory by 0.5% during the second quarter. California State Teachers Retirement System now owns 44,527 shares of the restaurant operator’s stock valued at $2,790,000 after purchasing an additional 203 shares during the period. Money Concepts Capital Corp grew its holdings in shares of Cheesecake Factory by 3.8% in the first quarter. Money Concepts Capital Corp now owns 5,802 shares of the restaurant operator’s stock worth $318,000 after purchasing an additional 210 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV grew its holdings in shares of Cheesecake Factory by 5.9% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 4,642 shares of the restaurant operator’s stock worth $234,000 after purchasing an additional 260 shares during the last quarter. 94.48% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CAKE has been the topic of several analyst reports. Argus lifted their target price on shares of Cheesecake Factory from $72.00 to $110.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Wells Fargo & Company raised their price target on shares of Cheesecake Factory from $65.00 to $75.00 and gave the stock an “equal weight” rating in a report on Thursday, July 16th. Weiss Ratings upgraded shares of Cheesecake Factory from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, August 13th. Robert W. Baird raised shares of Cheesecake Factory to a “hold” rating in a research note on Monday, August 24th. Finally, Northcoast Research lowered shares of Cheesecake Factory from a “buy” rating to a “neutral” rating in a report on Monday, June 15th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $83.47.

Cheesecake Factory Price Performance

CAKE opened at $107.18 on Friday. 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 stock has a market capitalization of $5.33 billion, a PE ratio of 29.05, a price-to-earnings-growth ratio of 1.83 and a beta of 1.01. The stock’s 50 day moving average price is $96.54 and its 200-day moving average price is $74.68. The Cheesecake Factory Incorporated has a 52-week low of $43.07 and a 52-week high of $118.46.

Cheesecake Factory (NASDAQ:CAKE) last announced its quarterly earnings results on Tuesday, July 28th. The restaurant operator reported $1.44 EPS for the quarter, topping analysts’ consensus estimates of $1.18 by $0.26. The company had revenue of $1.03 billion during the quarter, compared to analyst estimates of $999.54 million. Cheesecake Factory had a return on equity of 43.97% and a net margin of 4.61%.The firm’s revenue was up 7.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.16 earnings per share. On average, equities research analysts predict that The Cheesecake Factory Incorporated will post 4.52 EPS for the current year.

Cheesecake Factory Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 25th. Stockholders of record on Tuesday, August 11th were given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend was Tuesday, August 11th. Cheesecake Factory’s dividend payout ratio (DPR) is currently 32.52%.

Insider Transactions at Cheesecake Factory

In other news, President David Gordon sold 31,950 shares of Cheesecake Factory stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $110.03, for a total transaction of $3,515,458.50. Following the sale, the president owned 26,875 shares of the company’s stock, valued at approximately $2,957,056.25. The trade was a 54.31% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman David Overton sold 94,145 shares of the business’s stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $106.27, for a total transaction of $10,004,789.15. Following the transaction, the chairman owned 89,805 shares in the company, valued at $9,543,577.35. This represents a 51.18% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 213,749 shares of company stock worth $22,301,899. 8.00% of the stock is owned by corporate insiders.

Cheesecake Factory Profile

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.