Principal Financial Group Inc. Has $10.36 Million Stock Position in The Cheesecake Factory Incorporated (NASDAQ:CAKE)

Principal Financial Group Inc. boosted its position in The Cheesecake Factory Incorporated (NASDAQ:CAKE - Free Report) by 9.6% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 255,595 shares of the restaurant operator's stock after acquiring an additional 22,416 shares during the period. Principal Financial Group Inc. owned about 0.50% of Cheesecake Factory worth $10,364,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Allspring Global Investments Holdings LLC increased its stake in Cheesecake Factory by 2,360.7% in 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. GAMMA Investing LLC lifted its holdings in shares of Cheesecake Factory by 276.4% during the 2nd quarter. GAMMA Investing LLC now owns 1,449 shares of the restaurant operator's stock worth $57,000 after acquiring an additional 1,064 shares during the period. nVerses Capital LLC purchased a new stake in Cheesecake Factory in the second quarter valued at approximately $67,000. SG Americas Securities LLC acquired a new position in Cheesecake Factory during the first quarter worth approximately $121,000. Finally, Avantax Advisory Services Inc. purchased a new position in Cheesecake Factory during the first quarter worth approximately $202,000. 94.48% of the stock is currently owned by institutional investors and hedge funds.

Cheesecake Factory Stock Down 2.3 %

Shares of CAKE traded down $1.09 during midday trading on Monday, hitting $46.97. The company had a trading volume of 932,759 shares, compared to its average volume of 971,972. The stock has a market cap of $2.40 billion, a price-to-earnings ratio of 18.27, a PEG ratio of 1.32 and a beta of 1.47. The company's 50 day moving average price is $41.91 and its 200 day moving average price is $39.47. The company has a quick ratio of 0.33, a current ratio of 0.44 and a debt-to-equity ratio of 1.19. The Cheesecake Factory Incorporated has a 52 week low of $30.96 and a 52 week high of $50.75.

Cheesecake Factory (NASDAQ:CAKE - Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The restaurant operator reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.11. Cheesecake Factory had a return on equity of 43.90% and a net margin of 3.63%. The firm had revenue of $865.50 million for the quarter, compared to analysts' expectations of $866.13 million. During the same quarter in the prior year, the firm posted $0.39 earnings per share. Cheesecake Factory's revenue for the quarter was up 4.3% compared to the same quarter last year. On average, equities research analysts predict that The Cheesecake Factory Incorporated will post 3.3 EPS for the current year.

Cheesecake Factory Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 26th. Shareholders of record on Wednesday, November 13th will be issued a $0.27 dividend. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $1.08 dividend on an annualized basis and a yield of 2.30%. Cheesecake Factory's dividend payout ratio is currently 41.06%.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Stephens boosted their target price on Cheesecake Factory from $50.00 to $51.00 and gave the stock an "overweight" rating in a report on Wednesday, October 30th. StockNews.com lowered shares of Cheesecake Factory from a "buy" rating to a "hold" rating in a research report on Tuesday, November 12th. Robert W. Baird upped their price target on shares of Cheesecake Factory from $40.00 to $47.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 30th. UBS Group boosted their price objective on Cheesecake Factory from $32.00 to $36.00 and gave the stock a "sell" rating in a research note on Friday, October 25th. Finally, Citigroup increased their target price on Cheesecake Factory from $46.00 to $51.00 and gave the company a "buy" rating in a research note on Friday, October 4th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $44.75.

Insiders Place Their Bets

In related news, insider Keith Carango sold 13,095 shares of Cheesecake Factory stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $49.88, for a total value of $653,178.60. Following the sale, the insider now directly owns 14,977 shares in the company, valued at $747,052.76. This trade represents a 46.65 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 8.10% of the stock is currently owned by corporate insiders.

Cheesecake Factory 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.