Riverbridge Partners Lowers stake in Cheesecake Factory Inc (CAKE)

Cheesecake Factory Inc (CAKE) : Riverbridge Partners reduced its stake in Cheesecake Factory Inc by 4.97% during the most recent quarter end. The investment management company now holds a total of 629,645 shares of Cheesecake Factory Inc which is valued at $31,979,670 after selling 32,951 shares in Cheesecake Factory Inc , the firm said in a disclosure report filed with the SEC on Aug 1, 2016.Cheesecake Factory Inc makes up approximately 0.64% of Riverbridge Partners’s portfolio.

Other Hedge Funds, Including , Ngam Advisors boosted its stake in CAKE in the latest quarter, The investment management firm added 1,793 additional shares and now holds a total of 13,812 shares of Cheesecake Factory Inc which is valued at $701,511. Cheesecake Factory Inc makes up approx 0.01% of Ngam Advisors’s portfolio.Huntington National Bank boosted its stake in CAKE in the latest quarter, The investment management firm added 1,131 additional shares and now holds a total of 2,346 shares of Cheesecake Factory Inc which is valued at $116,737. Burt Wealth Advisors sold out all of its stake in CAKE during the most recent quarter. The investment firm sold 9 shares of CAKE which is valued $476.

Cheesecake Factory Inc closed down -0.69 points or -1.36% at $50.1 with 8,69,340 shares getting traded on Thursday. Post opening the session at $50.99, the shares hit an intraday low of $49.87 and an intraday high of $51.1 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

On the company’s financial health, Cheesecake Factory Inc reported $0.78 EPS for the quarter, beating the analyst consensus estimate by $ 0.07 according to the earnings call on Jul 27, 2016. Analyst had a consensus of $0.71. The company had revenue of $558.86 million for the quarter, compared to analysts expectations of $563.38 million. The company’s revenue was up 5.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.69 EPS.

Investors should note that on Jul 27, 2016, Cheesecake Factory Inc announced a cash dividend of $0.2400. The company’s management has announced Aug 8, 2016 as the ex-dividend date and fixed the record date on Aug 10, 2016. The payable date has been fixed on Aug 23, 2016.

Many Wall Street Analysts have commented on Cheesecake Factory Inc. Shares were Downgraded by Stifel on Jul 26, 2016 to ” Sell” and Lowered the Price Target to $ 43 from a previous price target of $65 .

The Cheesecake Factory Incorporated is engaged in the restaurant and bakery business. The Company operates approximately 189 Company-owned restaurants: 177 under The Cheesecake Factory mark 11 under the Grand Lux Cafe mark and one under the RockSugar Pan Asian Kitchen mark. It also operates two bakery production facilities which produce desserts for its restaurants international licensees and third-party bakery customers. The Company sells baked goods internationally under both The Cheesecake Factory and The Dream Factory brands in 24 countries including to licensed The Cheesecake Factory restaurants. Items produced for outside accounts are marketed under The Cheesecake Factory brand The Dream Factory brand The Cheesecake Factory Bakery brand and other private labels.

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