Quest Partners LLC Purchases Shares of 24,006 The Cheesecake Factory Incorporated (NASDAQ:CAKE)

Quest Partners LLC purchased a new stake in shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE) during the third quarter, Holdings Channel reports. The fund purchased 24,006 shares of the restaurant operator’s stock, valued at approximately $973,000.

A number of other institutional investors have also bought and sold shares of CAKE. Allspring Global Investments Holdings LLC boosted its position in 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 acquiring an additional 661 shares during the last quarter. GAMMA Investing LLC boosted its position in Cheesecake Factory by 276.4% during the second quarter. GAMMA Investing LLC now owns 1,449 shares of the restaurant operator’s stock valued at $57,000 after acquiring an additional 1,064 shares during the last quarter. nVerses Capital LLC bought a new stake in Cheesecake Factory during the second quarter valued at $67,000. SG Americas Securities LLC bought a new stake in Cheesecake Factory during the first quarter valued at $121,000. Finally, Avantax Advisory Services Inc. acquired a new position in shares of Cheesecake Factory during the first quarter valued at about $202,000. Institutional investors own 94.48% of the company’s stock.

Insiders Place Their Bets

In other news, insider Keith Carango sold 13,095 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $49.88, for a total transaction of $653,178.60. Following the completion of the transaction, the insider now directly owns 14,977 shares of the company’s stock, valued at $747,052.76. This represents a 46.65 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 8.10% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

CAKE has been the topic of several research reports. Citigroup upped their price objective on shares of Cheesecake Factory from $46.00 to $51.00 and gave the company a “buy” rating in a report on Friday, October 4th. Wells Fargo & Company upped their price objective on shares of Cheesecake Factory from $38.00 to $45.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Robert W. Baird upped their price objective on shares of Cheesecake Factory from $40.00 to $47.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. UBS Group upped their price objective on shares of Cheesecake Factory from $32.00 to $36.00 and gave the company a “sell” rating in a report on Friday, October 25th. Finally, Bank of America upped their price objective on shares of Cheesecake Factory from $47.00 to $49.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $44.75.

Cheesecake Factory Trading Up 0.1 %

CAKE opened at $46.63 on Thursday. The Cheesecake Factory Incorporated has a fifty-two week low of $30.96 and a fifty-two week high of $50.75. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.44 and a quick ratio of 0.33. The company’s 50-day moving average is $42.54 and its 200 day moving average is $39.70. The firm has a market capitalization of $2.38 billion, a PE ratio of 17.73, a P/E/G ratio of 1.32 and a beta of 1.47.

Cheesecake Factory (NASDAQ:CAKE) last issued its quarterly earnings data on Tuesday, October 29th. The restaurant operator reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.47 by $0.11. Cheesecake Factory had a net margin of 3.63% and a return on equity of 43.90%. The business had revenue of $865.50 million during the quarter, compared to the consensus estimate of $866.13 million. During the same period in the prior year, the firm posted $0.39 EPS. The firm’s quarterly revenue was up 4.3% compared to the same quarter last year. As a group, research analysts predict that The Cheesecake Factory Incorporated will post 3.3 earnings per share for the current fiscal year.

Cheesecake Factory Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 26th. Shareholders of record on Wednesday, November 13th will be given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date of this dividend 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.