CastleKnight Management LP Trims Stake in The Cheesecake Factory Incorporated (NASDAQ:CAKE)

CastleKnight Management LP lessened its holdings in shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE - Free Report) by 45.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,600 shares of the restaurant operator's stock after selling 6,400 shares during the quarter. CastleKnight Management LP's holdings in Cheesecake Factory were worth $361,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of CAKE. Vanguard Group Inc. grew its holdings in Cheesecake Factory by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 5,443,458 shares of the restaurant operator's stock valued at $258,238,000 after purchasing an additional 21,096 shares during the period. Invesco Ltd. grew its stake in shares of Cheesecake Factory by 12.4% during the 4th quarter. Invesco Ltd. now owns 1,412,483 shares of the restaurant operator's stock valued at $67,008,000 after acquiring an additional 155,614 shares during the period. American Century Companies Inc. increased its holdings in Cheesecake Factory by 15.8% in the 4th quarter. American Century Companies Inc. now owns 1,363,051 shares of the restaurant operator's stock worth $64,663,000 after acquiring an additional 186,026 shares in the last quarter. Hennessy Advisors Inc. bought a new stake in Cheesecake Factory during the 4th quarter worth approximately $63,114,000. Finally, Wellington Management Group LLP bought a new stake in Cheesecake Factory during the 4th quarter worth approximately $56,288,000. Institutional investors own 94.48% of the company's stock.

Cheesecake Factory Trading Down 1.8 %

Shares of NASDAQ CAKE opened at $49.50 on Wednesday. The business's 50 day moving average price is $48.62 and its 200-day moving average price is $49.27. The Cheesecake Factory Incorporated has a fifty-two week low of $33.50 and a fifty-two week high of $57.32. 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 company has a market cap of $2.45 billion, a price-to-earnings ratio of 15.47, a PEG ratio of 1.31 and a beta of 1.11.

Cheesecake Factory (NASDAQ:CAKE - Get Free Report) last released its earnings results on Wednesday, April 30th. The restaurant operator reported $0.93 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.12. The business had revenue of $927.20 million during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period last year, the company earned $0.73 earnings per share. On average, sell-side analysts expect that The Cheesecake Factory Incorporated will post 3.71 earnings per share for the current year.

Cheesecake Factory Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 27th. Stockholders of record on Wednesday, May 14th will be given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date is Wednesday, May 14th. Cheesecake Factory's dividend payout ratio (DPR) is presently 33.86%.

Wall Street Analysts Forecast Growth

CAKE has been the subject of a number of analyst reports. Morgan Stanley increased their price objective on shares of Cheesecake Factory from $39.00 to $40.00 and gave the stock an "underweight" rating in a research note on Thursday, May 1st. The Goldman Sachs Group increased their price objective on shares of Cheesecake Factory from $56.00 to $64.00 and gave the company a "buy" rating in a report on Thursday, February 6th. Piper Sandler boosted their target price on shares of Cheesecake Factory from $47.00 to $51.00 and gave the stock a "neutral" rating in a report on Thursday, February 20th. William Blair reiterated an "outperform" rating on shares of Cheesecake Factory in a report on Thursday, February 20th. Finally, Robert W. Baird increased their price objective on shares of Cheesecake Factory from $46.00 to $49.00 and gave the company a "neutral" rating in a report on Thursday, May 1st. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $52.63.

Insider Activity

In other Cheesecake Factory news, CFO Matthew Eliot Clark sold 29,000 shares of the firm's stock in a transaction 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 transaction, the chief financial officer now directly owns 39,856 shares in the company, valued at $2,134,687.36. This trade represents a 42.12 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Chairman David Overton sold 100,000 shares of the company's stock in a transaction 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 completion of the sale, the chairman now owns 3,092,147 shares of the company's stock, valued at $164,131,162.76. This represents a 3.13 % decrease in their ownership of the stock. 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.

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