13,530 Shares in The Cheesecake Factory Incorporated $CAKE Acquired by Susquehanna Fundamental Investments LLC

Key Points

• Susquehanna Fundamental Investments acquired 13,530 Cheesecake Factory shares worth approximately $1.08 million in the second quarter. Institutional investors collectively own 94.48% of CAKE’s outstanding stock.
• Cheesecake Factory reported quarterly EPS of $1.44, beating estimates by $0.26, while revenue rose 7.7% year over year to $1.03 billion. The company also maintains a quarterly dividend of $0.30, or $1.20 annually.
• CAKE shares opened at $108.36, near their 52-week high of $118.46, despite analysts’ consensus “Hold” rating and average price target of $83.47. Meanwhile, company insiders sold about $22.3 million of stock during the latest quarter.

Susquehanna Fundamental Investments LLC bought a new position in shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 13,530 shares of the restaurant operator's stock, valued at approximately $1,076,000.

A number of other hedge funds have also bought and sold shares of the stock. Oppenheimer Asset Management Inc. purchased a new stake in shares of Cheesecake Factory during the second quarter valued at $2,606,000. Fisher Asset Management LLC raised its stake in Cheesecake Factory by 7.2% in the 4th quarter. Fisher Asset Management LLC now owns 503,184 shares of the restaurant operator's stock worth $25,401,000 after acquiring an additional 33,959 shares during the last quarter. Louisiana State Employees Retirement System acquired a new stake in Cheesecake Factory during the 1st quarter worth about $1,111,000. Lotus Technology Management LP acquired a new stake in Cheesecake Factory during the 2nd quarter worth about $1,870,000. Finally, Deutsche Bank AG purchased a new stake in Cheesecake Factory during the 2nd quarter valued at about $3,922,000. Institutional investors and hedge funds own 94.48% of the company's stock.

Insiders Place Their Bets

In other Cheesecake Factory news, EVP Scarlett May sold 7,978 shares of the company's stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $102.66, for a total value of $819,021.48. Following the sale, the executive vice president owned 18,241 shares in the company, valued at approximately $1,872,621.06. This represents a 30.43% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Edie A. Ames sold 3,000 shares of the firm's stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $106.95, for a total transaction of $320,850.00. Following the sale, the director directly owned 10,000 shares in the company, valued at $1,069,500. The trade was a 23.08% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 213,749 shares of company stock worth $22,301,899. Corporate insiders own 8.00% of the company's stock.

Cheesecake Factory Price Performance

Shares of CAKE opened at $108.36 on Wednesday. The business's 50-day moving average is $95.37 and its two-hundred day moving average is $73.99. The company has a market capitalization of $5.39 billion, a P/E ratio of 29.37, a P/E/G ratio of 1.85 and a beta of 1.01. The Cheesecake Factory Incorporated has a fifty-two week low of $43.07 and a fifty-two week high of $118.46. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.52 and a current ratio of 0.59.

Cheesecake Factory (NASDAQ:CAKE - Get Free Report) last issued its quarterly earnings data on Tuesday, July 28th. The restaurant operator reported $1.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.18 by $0.26. Cheesecake Factory had a return on equity of 43.97% and a net margin of 4.61%.The business had revenue of $1.03 billion during the quarter, compared to analysts' expectations of $999.54 million. During the same quarter in the previous year, the firm posted $1.16 EPS. The company's revenue for the quarter was up 7.7% on a year-over-year basis. Research analysts predict that The Cheesecake Factory Incorporated will post 4.52 earnings per share for the current year.

Cheesecake Factory Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 25th. Shareholders of record on Tuesday, August 11th were issued a $0.30 dividend. The ex-dividend date of this dividend was Tuesday, August 11th. This represents a $1.20 dividend on an annualized basis and a yield of 1.1%. Cheesecake Factory's payout ratio is presently 32.52%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on CAKE shares. Morgan Stanley upgraded Cheesecake Factory from an "underweight" rating to an "equal weight" rating and raised their price objective for the stock from $50.00 to $80.00 in a research note on Wednesday, July 29th. JPMorgan Chase & Co. upped their target price on Cheesecake Factory from $92.00 to $105.00 and gave the company a "neutral" rating in a research report on Wednesday, August 26th. Robert W. Baird upgraded shares of Cheesecake Factory to a "hold" rating in a report on Monday, August 24th. Bank of America raised their price target on shares of Cheesecake Factory from $66.00 to $79.00 and gave the stock a "neutral" rating in a research report on Thursday, July 2nd. Finally, Jefferies Financial Group cut shares of Cheesecake Factory from a "buy" rating to a "hold" rating and lifted their price objective for the company from $75.00 to $88.00 in a research note on Wednesday, July 29th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, Cheesecake Factory currently has a consensus rating of "Hold" and an average target price of $83.47.

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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