Tabor Asset Management LP Has $1.65 Million Position in The Cheesecake Factory Incorporated $CAKE

Tabor Asset Management LP decreased its position in shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE) by 30.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 26,245 shares of the restaurant operator’s stock after selling 11,592 shares during the quarter. Cheesecake Factory comprises approximately 1.1% of Tabor Asset Management LP’s investment portfolio, making the stock its 29th biggest holding. Tabor Asset Management LP’s holdings in Cheesecake Factory were worth $1,645,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Wellington Management Group LLP boosted its holdings in shares of Cheesecake Factory by 156.7% during the 1st quarter. Wellington Management Group LLP now owns 3,045,705 shares of the restaurant operator’s stock worth $148,204,000 after buying an additional 1,859,194 shares during the period. Invesco Ltd. increased its stake in shares of Cheesecake Factory by 83.5% during the first quarter. Invesco Ltd. now owns 2,591,205 shares of the restaurant operator’s stock worth $126,088,000 after purchasing an additional 1,178,722 shares during the period. Victory Capital Management Inc. lifted its holdings in Cheesecake Factory by 64.1% during the 1st quarter. Victory Capital Management Inc. now owns 1,766,131 shares of the restaurant operator’s stock worth $85,940,000 after purchasing an additional 689,784 shares during the last quarter. American Century Companies Inc. boosted its stake in Cheesecake Factory by 17.7% in the 1st quarter. American Century Companies Inc. now owns 1,604,626 shares of the restaurant operator’s stock valued at $78,081,000 after purchasing an additional 241,575 shares during the period. Finally, Westwood Holdings Group Inc. bought a new stake in Cheesecake Factory in the 1st quarter valued at $75,795,000. Institutional investors own 94.48% of the company’s stock.

Cheesecake Factory Price Performance

CAKE stock opened at $47.45 on Friday. The stock has a market cap of $2.37 billion, a PE ratio of 14.38, a P/E/G ratio of 1.21 and a beta of 1.08. The Cheesecake Factory Incorporated has a 12 month low of $42.69 and a 12 month high of $69.70. The company has a 50-day moving average price of $54.71 and a 200 day moving average price of $57.45. The company has a current ratio of 0.51, a quick ratio of 0.42 and a debt-to-equity ratio of 1.40.

Cheesecake Factory (NASDAQ:CAKE) last released its earnings results on Monday, November 3rd. The restaurant operator reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.08. Cheesecake Factory had a return on equity of 47.25% and a net margin of 4.33%.The business had revenue of $907.23 million for the quarter, compared to analyst estimates of $912.95 million. During the same quarter last year, the firm posted $0.58 earnings per share. The business’s revenue was up 4.8% compared to the same quarter last year. Equities research analysts anticipate that The Cheesecake Factory Incorporated will post 3.71 earnings per share for the current year.

Cheesecake Factory Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 25th. Investors of record on Tuesday, November 11th will be paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date is Monday, November 10th. Cheesecake Factory’s dividend payout ratio is 32.73%.

Insiders Place Their Bets

In other Cheesecake Factory news, President David M. Gordon sold 43,335 shares of the firm’s stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $63.06, for a total value of $2,732,705.10. Following the completion of the sale, the president owned 24,532 shares of the company’s stock, valued at approximately $1,546,987.92. This trade represents a 63.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 8.40% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CAKE. Citigroup dropped their price target on shares of Cheesecake Factory from $68.00 to $65.00 and set a “buy” rating on the stock in a research report on Wednesday, October 29th. Jefferies Financial Group set a $70.00 price target on Cheesecake Factory and gave the stock a “buy” rating in a report on Wednesday, October 29th. Barclays lowered their price objective on Cheesecake Factory from $50.00 to $48.00 and set an “underweight” rating for the company in a research report on Wednesday, October 29th. Bank of America cut their target price on Cheesecake Factory from $61.00 to $56.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 29th. Finally, Mizuho set a $65.00 target price on Cheesecake Factory and gave the stock an “outperform” rating in a research note on Wednesday, October 29th. Ten research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $59.18.

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.