13,126 Shares in The Cheesecake Factory Incorporated $CAKE Bought by Elevation Point Wealth Partners LLC

Key Points

• Elevation Point Wealth Partners LLC initiated a new position in Cheesecake Factory, buying 13,126 shares worth about $719,000 in the first quarter.
• The company reported better-than-expected quarterly results, with EPS of $1.05 versus estimates of $1.03 and revenue of $978.83 million, up 5.6% year over year.
• Cheesecake Factory also paid a quarterly dividend of $0.30 per share, and analysts currently have a consensus Hold rating with a price target of $66.29.

Elevation Point Wealth Partners LLC purchased a new position in shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 13,126 shares of the restaurant operator's stock, valued at approximately $719,000.

Other large investors have also added to or reduced their stakes in the company. Invesco Ltd. boosted its position in Cheesecake Factory by 13.6% in the fourth quarter. Invesco Ltd. now owns 2,337,671 shares of the restaurant operator's stock valued at $118,006,000 after buying an additional 280,553 shares during the last quarter. State Street Corp lifted its stake in Cheesecake Factory by 0.3% during the 4th quarter. State Street Corp now owns 1,785,955 shares of the restaurant operator's stock valued at $90,155,000 after acquiring an additional 4,535 shares during the period. Victory Capital Management Inc. boosted its holdings in shares of Cheesecake Factory by 16.4% in the 4th quarter. Victory Capital Management Inc. now owns 1,474,320 shares of the restaurant operator's stock valued at $74,424,000 after acquiring an additional 207,788 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Cheesecake Factory by 0.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,213,106 shares of the restaurant operator's stock valued at $61,235,000 after acquiring an additional 5,910 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Cheesecake Factory by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 1,152,174 shares of the restaurant operator's stock worth $58,170,000 after acquiring an additional 4,577 shares during the period. Hedge funds and other institutional investors own 94.48% of the company's stock.

Insider Activity at Cheesecake Factory

In other news, Chairman David Overton sold 104,000 shares of the stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $61.02, for a total transaction of $6,346,080.00. Following the transaction, the chairman owned 3,079,779 shares in the company, valued at $187,928,114.58. This trade represents a 3.27% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Alexander L. Cappello sold 2,490 shares of the business's stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $64.90, for a total transaction of $161,601.00. Following the completion of the sale, the director directly owned 6,171 shares of the company's stock, valued at approximately $400,497.90. The trade was a 28.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 8.00% of the stock is currently owned by company insiders.

Cheesecake Factory Stock Up 1.1%

CAKE stock opened at $77.74 on Wednesday. The Cheesecake Factory Incorporated has a one year low of $43.07 and a one year high of $80.93. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.53 and a current ratio of 0.59. The firm's fifty day moving average is $68.27 and its 200 day moving average is $61.98. The firm has a market cap of $3.86 billion, a PE ratio of 22.73, a P/E/G ratio of 1.85 and a beta of 1.01.

Cheesecake Factory (NASDAQ:CAKE - Get Free Report) last issued its quarterly earnings data on Wednesday, April 29th. The restaurant operator reported $1.05 earnings per share for the quarter, topping analysts' consensus estimates of $1.03 by $0.02. Cheesecake Factory had a net margin of 4.34% and a return on equity of 43.74%. The business had revenue of $978.83 million during the quarter, compared to the consensus estimate of $964.57 million. During the same quarter in the prior year, the firm posted $0.93 earnings per share. The company's revenue was up 5.6% compared to the same quarter last year. On average, research analysts forecast that The Cheesecake Factory Incorporated will post 4.01 EPS for the current year.

Cheesecake Factory Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 26th. Shareholders of record on Wednesday, May 13th were given a dividend of $0.30 per share. The ex-dividend date was Wednesday, May 13th. This represents a $1.20 dividend on an annualized basis and a yield of 1.5%. Cheesecake Factory's dividend payout ratio is currently 35.09%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on CAKE. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and set a $68.00 target price on shares of Cheesecake Factory in a report on Thursday, April 30th. JPMorgan Chase & Co. raised Cheesecake Factory from an "underweight" rating to a "neutral" rating and increased their price target for the stock from $58.00 to $68.00 in a research report on Thursday, May 14th. Robert W. Baird set a $65.00 price objective on Cheesecake Factory in a research note on Thursday, April 30th. Wells Fargo & Company boosted their price objective on Cheesecake Factory from $60.00 to $65.00 and gave the company an "equal weight" rating in a report on Thursday, April 30th. Finally, Oppenheimer upped their target price on Cheesecake Factory from $68.00 to $72.00 and gave the stock an "outperform" rating in a research note on Tuesday, April 21st. Five equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $66.29.

About Cheesecake Factory

The Cheesecake Factory Incorporated NASDAQ: CAKE is an American restaurant company and distributor renowned for its full-service casual-dining concept and specialty cheesecakes. Headquartered in Calabasas Hills, California, the company operates more than 200 restaurants under The Cheesecake Factory® brand across the United States, Puerto Rico and select international markets. In addition to sit-down dining, Cheesecake Factory franchised locations offer catering and take-out services, while a separate manufacturing arm supplies branded cheesecakes and desserts to supermarkets, hotels and other foodservice operators.

The origins of the brand trace back to a small cheesecake bakery founded in Detroit in the 1940s.

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