Bayesian Capital Management LP Takes $702,000 Position in The Cheesecake Factory Incorporated (NASDAQ:CAKE)

Bayesian Capital Management LP acquired a new stake in The Cheesecake Factory Incorporated (NASDAQ:CAKE - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 14,800 shares of the restaurant operator's stock, valued at approximately $702,000.

Other institutional investors have also added to or reduced their stakes in the company. Hennessy Advisors Inc. purchased a new stake in Cheesecake Factory in the 4th quarter valued at $63,114,000. Wellington Management Group LLP bought a new stake in Cheesecake Factory during the 4th quarter valued at $56,288,000. Victory Capital Management Inc. lifted its holdings in Cheesecake Factory by 166.9% during the 4th quarter. Victory Capital Management Inc. now owns 1,076,347 shares of the restaurant operator's stock worth $51,062,000 after purchasing an additional 673,076 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its stake in Cheesecake Factory by 322.6% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 382,383 shares of the restaurant operator's stock valued at $18,140,000 after acquiring an additional 291,905 shares in the last quarter. Finally, Ruffer LLP bought a new stake in Cheesecake Factory during the fourth quarter valued at $9,401,000. 94.48% of the stock is currently owned by institutional investors.

Cheesecake Factory Trading Up 0.5 %

Shares of NASDAQ:CAKE traded up $0.25 on Friday, hitting $50.17. 767,742 shares of the company's stock were exchanged, compared to its average volume of 1,205,273. The stock has a market capitalization of $2.48 billion, a price-to-earnings ratio of 15.68, a price-to-earnings-growth ratio of 1.31 and a beta of 1.11. The Cheesecake Factory Incorporated has a 12 month low of $33.50 and a 12 month high of $57.32. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.44 and a quick ratio of 0.33. The business's 50 day simple moving average is $48.51 and its two-hundred day simple moving average is $49.44.

Cheesecake Factory (NASDAQ:CAKE - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The restaurant operator reported $0.93 EPS for the quarter, beating the consensus estimate of $0.81 by $0.12. The firm had revenue of $927.20 million for the quarter, compared to analyst estimates of $927.17 million. Cheesecake Factory had a return on equity of 45.89% and a net margin of 4.38%. The business's revenue for the quarter was up 4.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.73 earnings per share. Analysts anticipate that The Cheesecake Factory Incorporated will post 3.71 EPS for the current fiscal year.

Cheesecake Factory Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 27th. Stockholders of record on Wednesday, May 14th will be issued a $0.27 dividend. The ex-dividend date of this dividend is Wednesday, May 14th. This represents a $1.08 annualized dividend and a dividend yield of 2.15%. Cheesecake Factory's dividend payout ratio (DPR) is presently 33.86%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on CAKE shares. Citigroup cut their price target on shares of Cheesecake Factory from $67.00 to $62.00 and set a "buy" rating for the company in a research report on Tuesday, April 15th. Stephens reiterated an "overweight" rating and set a $60.00 target price on shares of Cheesecake Factory in a report on Thursday, May 1st. Robert W. Baird raised their target price on Cheesecake Factory from $46.00 to $49.00 and gave the company a "neutral" rating in a research note on Thursday, May 1st. Barclays reduced their price target on Cheesecake Factory from $50.00 to $46.00 and set an "underweight" rating on the stock in a research note on Tuesday, April 22nd. Finally, Piper Sandler lifted their price target on shares of Cheesecake Factory from $47.00 to $51.00 and gave the company a "neutral" rating in a research report on Thursday, February 20th. Four research analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat.com, Cheesecake Factory currently has an average rating of "Hold" and an average price target of $53.60.

Insiders Place Their Bets

In related news, CFO Matthew Eliot Clark sold 29,000 shares of the business's stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $53.56, for a total transaction of $1,553,240.00. Following the completion of the sale, the chief financial officer now directly owns 39,856 shares in the company, valued at approximately $2,134,687.36. The trade was a 42.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman David Overton sold 100,000 shares of Cheesecake Factory stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $53.08, for a total transaction of $5,308,000.00. Following the sale, the chairman now directly owns 3,092,147 shares in the company, valued at approximately $164,131,162.76. This trade represents a 3.13 % decrease in their position. The disclosure for this sale can be found here. Insiders own 8.40% of the company's stock.

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.