Leeward Investments LLC MA Decreases Stock Holdings in The Cheesecake Factory Incorporated (NASDAQ:CAKE)

Leeward Investments LLC MA trimmed its stake in shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE) by 0.3% in the 3rd quarter, Holdings Channel reports. The firm owned 229,765 shares of the restaurant operator’s stock after selling 770 shares during the period. Leeward Investments LLC MA’s holdings in Cheesecake Factory were worth $9,317,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in CAKE. Allspring Global Investments Holdings LLC raised 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 last quarter. Texas Permanent School Fund Corp raised its holdings in shares of Cheesecake Factory by 1.4% during the first quarter. Texas Permanent School Fund Corp now owns 40,881 shares of the restaurant operator’s stock valued at $1,478,000 after purchasing an additional 547 shares during the last quarter. Duality Advisers LP bought a new stake in Cheesecake Factory during the first quarter valued at approximately $1,829,000. Sciencast Management LP bought a new stake in Cheesecake Factory during the first quarter valued at approximately $400,000. Finally, SG Americas Securities LLC bought a new stake in Cheesecake Factory during the first quarter valued at approximately $121,000. 94.48% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CAKE. Robert W. Baird boosted their target price on shares of Cheesecake Factory from $40.00 to $47.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Stephens boosted their target price on shares of Cheesecake Factory from $50.00 to $51.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Barclays boosted their target price on shares of Cheesecake Factory from $38.00 to $44.00 and gave the company an “underweight” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. cut their target price on shares of Cheesecake Factory from $40.00 to $38.00 and set an “underweight” rating for the company in a research report on Tuesday, August 6th. Finally, Bank of America upped their price target on shares of Cheesecake Factory from $47.00 to $49.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $44.17.

Cheesecake Factory Price Performance

Shares of NASDAQ:CAKE opened at $47.30 on Friday. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.32 and a current ratio of 0.43. The firm has a fifty day moving average price of $40.84 and a 200 day moving average price of $38.87. The Cheesecake Factory Incorporated has a fifty-two week low of $30.04 and a fifty-two week high of $50.75. The firm has a market cap of $2.41 billion, a price-to-earnings ratio of 17.98, a P/E/G ratio of 1.25 and a beta of 1.47.

Cheesecake Factory (NASDAQ:CAKE) last released its quarterly earnings results on Tuesday, October 29th. The restaurant operator reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.11. The company had revenue of $865.50 million for the quarter, compared to the consensus estimate of $866.13 million. Cheesecake Factory had a net margin of 3.63% and a return on equity of 45.66%. Cheesecake Factory’s revenue was up 4.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.39 earnings per share. As a group, sell-side analysts expect that The Cheesecake Factory Incorporated will post 3.3 earnings per share for the current fiscal year.

Cheesecake Factory Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 26th. Investors of record on Wednesday, November 13th will be paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 2.28%. The ex-dividend date is Wednesday, November 13th. Cheesecake Factory’s payout ratio is 41.06%.

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.