1492 Capital Management LLC Has $1.09 Million Stake in The Cheesecake Factory Incorporated $CAKE

Key Points

• 1492 Capital Management cut its Cheesecake Factory stake by 76.7% in the first quarter, selling 65,604 shares and ending with 19,941 shares valued at about $1.09 million.
• The Cheesecake Factory reported strong quarterly results, with EPS of $1.05 beating estimates and revenue of $978.83 million topping forecasts; revenue rose 5.6% year over year.
• The stock has been active amid insider selling and mixed analyst sentiment: Chairman David Overton and Director Alexander L. Cappello both sold shares, while the consensus analyst rating remains Hold with an average price target of $64.94.

1492 Capital Management LLC lessened its stake in shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE - Free Report) by 76.7% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 19,941 shares of the restaurant operator's stock after selling 65,604 shares during the period. 1492 Capital Management LLC's holdings in Cheesecake Factory were worth $1,092,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. Salomon & Ludwin LLC increased its holdings in shares of Cheesecake Factory by 226.5% during the 4th quarter. Salomon & Ludwin LLC now owns 604 shares of the restaurant operator's stock worth $33,000 after acquiring an additional 419 shares during the last quarter. Global Retirement Partners LLC increased its holdings in shares of Cheesecake Factory by 661.7% in the fourth quarter. Global Retirement Partners LLC now owns 716 shares of the restaurant operator's stock valued at $36,000 after purchasing an additional 622 shares during the last quarter. Root Financial Partners LLC increased its holdings in shares of Cheesecake Factory by 973.2% in the fourth quarter. Root Financial Partners LLC now owns 880 shares of the restaurant operator's stock valued at $44,000 after purchasing an additional 798 shares during the last quarter. Arax Advisory Partners bought a new position in shares of Cheesecake Factory in the fourth quarter valued at about $50,000. Finally, Quarry LP raised its position in shares of Cheesecake Factory by 3,343.8% in the third quarter. Quarry LP now owns 1,102 shares of the restaurant operator's stock valued at $60,000 after purchasing an additional 1,070 shares during the period. 94.48% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Cheesecake Factory

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

Cheesecake Factory Trading Up 1.7%

NASDAQ CAKE opened at $80.38 on Friday. The business has a 50 day simple moving average of $65.92 and a 200 day simple moving average of $60.43. The Cheesecake Factory Incorporated has a one year low of $43.07 and a one year high of $80.89. The stock has a market capitalization of $3.99 billion, a P/E ratio of 23.50, a P/E/G ratio of 1.93 and a beta of 1.04. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.59 and a quick ratio of 0.53.

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

Cheesecake Factory Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 26th. Stockholders of record on Wednesday, May 13th were paid a $0.30 dividend. The ex-dividend date was Wednesday, May 13th. This represents a $1.20 annualized dividend and a dividend yield of 1.5%. Cheesecake Factory's dividend payout ratio is presently 35.09%.

Analyst Ratings Changes

CAKE has been the subject of several recent research reports. Weiss Ratings downgraded Cheesecake Factory from a "buy (b)" rating to a "buy (b-)" rating in a research note on Tuesday. Robert W. Baird set a $65.00 price objective on Cheesecake Factory in a research report on Thursday, April 30th. Northcoast Research downgraded Cheesecake Factory from a "buy" rating to a "neutral" rating in a report on Monday, June 15th. Wells Fargo & Company lifted their target price on Cheesecake Factory from $60.00 to $65.00 and gave the stock an "equal weight" rating in a report on Thursday, April 30th. Finally, Citigroup cut shares of Cheesecake Factory from a "buy" rating to a "neutral" rating in a research report on Monday, June 15th. Five investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $64.94.

Cheesecake Factory Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.