Arrowstreet Capital Limited Partnership Purchases 291,905 Shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE)

Arrowstreet Capital Limited Partnership grew its position in shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE - Free Report) by 322.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 382,383 shares of the restaurant operator's stock after purchasing an additional 291,905 shares during the quarter. Arrowstreet Capital Limited Partnership owned 0.75% of Cheesecake Factory worth $18,140,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. First Eagle Investment Management LLC boosted its holdings in Cheesecake Factory by 9.7% during the fourth quarter. First Eagle Investment Management LLC now owns 360,718 shares of the restaurant operator's stock worth $17,112,000 after buying an additional 32,000 shares in the last quarter. Ruffer LLP bought a new stake in shares of Cheesecake Factory during the 4th quarter worth $9,401,000. KLP Kapitalforvaltning AS acquired a new position in shares of Cheesecake Factory in the 4th quarter worth $489,000. Principal Financial Group Inc. lifted its holdings in shares of Cheesecake Factory by 9.6% during the third quarter. Principal Financial Group Inc. now owns 255,595 shares of the restaurant operator's stock valued at $10,364,000 after purchasing an additional 22,416 shares during the last quarter. Finally, Versor Investments LP boosted its position in shares of Cheesecake Factory by 252.6% in the 4th quarter. Versor Investments LP now owns 22,752 shares of the restaurant operator's stock valued at $1,079,000 after purchasing an additional 16,300 shares during the period. Institutional investors own 94.48% of the company's stock.

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Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Barclays boosted their price objective on Cheesecake Factory from $46.00 to $50.00 and gave the stock an "underweight" rating in a report on Thursday, February 20th. Robert W. Baird reduced their price target on shares of Cheesecake Factory from $50.00 to $46.00 and set a "neutral" rating for the company in a research report on Monday. UBS Group lifted their price objective on shares of Cheesecake Factory from $41.00 to $45.00 and gave the stock a "sell" rating in a research report on Thursday, February 20th. The Goldman Sachs Group raised their target price on Cheesecake Factory from $56.00 to $64.00 and gave the stock a "buy" rating in a research report on Thursday, February 6th. Finally, Raymond James upped their price target on Cheesecake Factory from $51.00 to $56.00 and gave the company an "outperform" rating in a research report on Monday, December 16th. Four investment analysts have rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $52.13.

Cheesecake Factory Stock Down 2.8 %

Shares of CAKE traded down $1.28 during trading hours on Monday, hitting $44.40. 1,826,350 shares of the company were exchanged, compared to its average volume of 1,165,863. The firm's 50 day moving average is $51.47 and its 200-day moving average is $48.08. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.33 and a current ratio of 0.44. The Cheesecake Factory Incorporated has a 52 week low of $33.05 and a 52 week high of $57.32. The company has a market cap of $2.29 billion, a PE ratio of 13.88, a PEG ratio of 1.31 and a beta of 1.24.

Cheesecake Factory (NASDAQ:CAKE - Get Free Report) last issued its quarterly earnings data on Wednesday, February 19th. The restaurant operator reported $1.04 earnings per share for the quarter, topping analysts' consensus estimates of $0.91 by $0.13. Cheesecake Factory had a net margin of 4.38% and a return on equity of 45.89%. The business had revenue of $920.96 million during the quarter, compared to analysts' expectations of $912.67 million. On average, equities research analysts forecast that The Cheesecake Factory Incorporated will post 3.71 EPS for the current fiscal year.

Cheesecake Factory Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Wednesday, March 5th were given a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 2.43%. The ex-dividend date of this dividend was Wednesday, March 5th. Cheesecake Factory's dividend payout ratio is currently 33.75%.

Insider Transactions at Cheesecake Factory

In other Cheesecake Factory news, Chairman David Overton sold 100,000 shares of Cheesecake Factory stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $53.08, for a total value of $5,308,000.00. Following the transaction, the chairman now directly owns 3,092,147 shares of the company's stock, valued at $164,131,162.76. The trade was a 3.13 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Matthew Eliot Clark sold 29,000 shares of the stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $53.56, for a total value of $1,553,240.00. Following the completion of the sale, the chief financial officer now directly owns 39,856 shares of the company's stock, valued at $2,134,687.36. This represents a 42.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.10% of the stock is currently owned by corporate insiders.

About Cheesecake Factory

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.