Invesco Ltd. Has $67.01 Million Position in The Cheesecake Factory Incorporated (NASDAQ:CAKE)

Invesco Ltd. grew its holdings in The Cheesecake Factory Incorporated (NASDAQ:CAKE) by 12.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,412,483 shares of the restaurant operator’s stock after buying an additional 155,614 shares during the quarter. Invesco Ltd.’s holdings in Cheesecake Factory were worth $67,008,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. First Eagle Investment Management LLC increased its position in Cheesecake Factory by 9.7% in the 4th quarter. First Eagle Investment Management LLC now owns 360,718 shares of the restaurant operator’s stock valued at $17,112,000 after acquiring an additional 32,000 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new position in Cheesecake Factory during the 4th quarter worth $489,000. Ruffer LLP acquired a new position in Cheesecake Factory during the 4th quarter worth $9,401,000. Dynamic Technology Lab Private Ltd bought a new position in Cheesecake Factory in the 4th quarter valued at $972,000. Finally, Norges Bank acquired a new stake in shares of Cheesecake Factory in the 4th quarter valued at $6,513,000. 94.48% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Oppenheimer upgraded Cheesecake Factory from a “market perform” rating to an “outperform” rating and set a $65.00 price target on the stock in a report on Tuesday, January 7th. Wells Fargo & Company lifted their price target on shares of Cheesecake Factory from $45.00 to $52.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 20th. The Goldman Sachs Group raised their price objective on shares of Cheesecake Factory from $56.00 to $64.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. Stephens reiterated an “overweight” rating and set a $60.00 target price on shares of Cheesecake Factory in a research report on Thursday, February 20th. Finally, Raymond James increased their price target on Cheesecake Factory from $51.00 to $56.00 and gave the company an “outperform” rating in a research note 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’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $52.13.

Insiders Place Their Bets

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

Cheesecake Factory Stock Performance

Shares of CAKE opened at $46.99 on Tuesday. The firm’s 50 day moving average price is $50.01 and its two-hundred day moving average price is $48.36. 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 twelve month low of $33.08 and a twelve month high of $57.32. The firm has a market cap of $2.43 billion, a P/E ratio of 14.68, a PEG ratio of 1.31 and a beta of 1.24.

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

Cheesecake Factory Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Wednesday, March 5th were given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 2.30%. The ex-dividend date was Wednesday, March 5th. Cheesecake Factory’s dividend payout ratio (DPR) is currently 33.75%.

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.