Bessemer Group Inc. Increases Stake in Cheesecake Factory Inc (NASDAQ:CAKE)

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Bessemer Group Inc. boosted its stake in Cheesecake Factory Inc (NASDAQ:CAKE) by 1.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 778,180 shares of the restaurant operator’s stock after purchasing an additional 8,206 shares during the period. Bessemer Group Inc. owned about 1.72% of Cheesecake Factory worth $34,022,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of CAKE. Prudential Financial Inc. increased its stake in shares of Cheesecake Factory by 19.1% in the fourth quarter. Prudential Financial Inc. now owns 34,742 shares of the restaurant operator’s stock valued at $1,511,000 after buying an additional 5,583 shares during the period. Advisor Group Inc. boosted its holdings in Cheesecake Factory by 127.5% in the fourth quarter. Advisor Group Inc. now owns 4,240 shares of the restaurant operator’s stock valued at $185,000 after acquiring an additional 2,376 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Cheesecake Factory by 7.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,413,874 shares of the restaurant operator’s stock valued at $61,516,000 after acquiring an additional 95,965 shares during the last quarter. Stifel Financial Corp boosted its holdings in Cheesecake Factory by 3.4% in the fourth quarter. Stifel Financial Corp now owns 113,171 shares of the restaurant operator’s stock valued at $4,893,000 after acquiring an additional 3,730 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Cheesecake Factory by 6.4% in the fourth quarter. Geode Capital Management LLC now owns 515,688 shares of the restaurant operator’s stock valued at $22,437,000 after acquiring an additional 30,830 shares during the last quarter. Hedge funds and other institutional investors own 98.26% of the company’s stock.

In other Cheesecake Factory news, Director Laurence B. Mindel bought 1,500 shares of the firm’s stock in a transaction dated Monday, May 6th. The stock was purchased at an average cost of $49.64 per share, with a total value of $74,460.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Edie A. Ames bought 700 shares of the firm’s stock in a transaction dated Monday, May 13th. The shares were acquired at an average cost of $47.18 per share, with a total value of $33,026.00. Following the completion of the transaction, the director now owns 3,130 shares in the company, valued at $147,673.40. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 4,200 shares of company stock valued at $202,486. Insiders own 8.50% of the company’s stock.

Several analysts recently commented on the company. TheStreet cut Virtusa from a “b-” rating to a “c+” rating in a report on Wednesday, May 29th. UBS Group restated a “hold” rating and set a $7.80 price target on shares of Deutsche Bank in a report on Friday, April 26th. Raymond James cut RioCan Real Estate Investment Trust to a “hold” rating in a report on Monday, July 15th. BidaskClub cut Westport Fuel Systems from a “buy” rating to a “hold” rating in a report on Friday. Finally, Deutsche Bank set a $142.00 price target on MCCORMICK & CO /SH and gave the stock a “hold” rating in a report on Friday, June 28th. Three equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and two have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $50.80.

Shares of NASDAQ:CAKE traded up $0.30 during trading on Tuesday, reaching $43.68. 18,191 shares of the stock were exchanged, compared to its average volume of 520,499. The company has a debt-to-equity ratio of 1.78, a quick ratio of 0.26 and a current ratio of 0.35. Cheesecake Factory Inc has a 1-year low of $41.63 and a 1-year high of $60.19. The stock has a fifty day moving average price of $44.08. The stock has a market capitalization of $1.99 billion, a price-to-earnings ratio of 17.97, a price-to-earnings-growth ratio of 1.28 and a beta of 0.43.

Cheesecake Factory (NASDAQ:CAKE) last released its quarterly earnings results on Wednesday, May 1st. The restaurant operator reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.02. The business had revenue of $599.48 million during the quarter, compared to analyst estimates of $603.03 million. Cheesecake Factory had a return on equity of 19.54% and a net margin of 4.24%. Cheesecake Factory’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.56 EPS. Equities analysts anticipate that Cheesecake Factory Inc will post 2.65 earnings per share for the current fiscal year.

Cheesecake Factory Company Profile

The Cheesecake Factory Incorporated engages in the operation of restaurants. The company produces cheesecakes and other baked products for own restaurants and international licensees, as well as external foodservice operators, retailers, and distributors. As of April 16, 2019, it owned and operated 219 full-service casual-dining restaurants in the United States, including Puerto Rico and Canada comprising 202 restaurants under The Cheesecake Factory name; 14 restaurants under the Grand Lux Café name; and 2 restaurants under the RockSugar Southeast Asian Kitchen name, as well as 22 The Cheesecake Factory restaurants under licensing agreements internationally.

Further Reading: Quiet Period

Institutional Ownership by Quarter for Cheesecake Factory (NASDAQ:CAKE)

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