Informed Momentum Co LLC Invests $3.02 Million in The Cheesecake Factory Incorporated (NASDAQ:CAKE)

Key Points

• Informed Momentum Co LLC has purchased 62,121 shares of The Cheesecake Factory valued at approximately $3,023,000, representing 0.13% of the company's total ownership.
• The Cheesecake Factory reported a quarterly earnings per share (EPS) of $1.16, surpassing estimates by 10 cents, with annual revenue growth of 5.7%.
• The company announced a quarterly dividend of $0.27 per share, which amounts to an annual yield of 1.8%, with the dividend payout ratio currently at 33.23%.

Informed Momentum Co LLC bought a new position in shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 62,121 shares of the restaurant operator's stock, valued at approximately $3,023,000. Informed Momentum Co LLC owned approximately 0.13% of Cheesecake Factory at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. USA Financial Formulas bought a new position in shares of Cheesecake Factory in the first quarter worth $49,000. Golden State Wealth Management LLC increased its holdings in shares of Cheesecake Factory by 100.0% in the first quarter. Golden State Wealth Management LLC now owns 1,060 shares of the restaurant operator's stock worth $52,000 after purchasing an additional 530 shares during the period. SBI Securities Co. Ltd. increased its holdings in shares of Cheesecake Factory by 38.5% in the first quarter. SBI Securities Co. Ltd. now owns 1,244 shares of the restaurant operator's stock worth $61,000 after purchasing an additional 346 shares during the period. Bayforest Capital Ltd bought a new position in shares of Cheesecake Factory in the first quarter worth $72,000. Finally, FORA Capital LLC bought a new position in shares of Cheesecake Factory in the fourth quarter worth $203,000. Hedge funds and other institutional investors own 94.48% of the company's stock.

Cheesecake Factory Price Performance

Shares of Cheesecake Factory stock traded down $0.38 during trading on Friday, reaching $62.99. 976,327 shares of the stock traded hands, compared to its average volume of 1,473,859. The company has a market capitalization of $3.14 billion, a price-to-earnings ratio of 19.38, a P/E/G ratio of 1.54 and a beta of 1.17. The business has a fifty day simple moving average of $62.30 and a two-hundred day simple moving average of $55.04. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.51 and a quick ratio of 0.42. The Cheesecake Factory Incorporated has a 52-week low of $35.40 and a 52-week high of $69.70.

Cheesecake Factory (NASDAQ:CAKE - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The restaurant operator reported $1.16 EPS for the quarter, beating analysts' consensus estimates of $1.06 by $0.10. The firm had revenue of $955.83 million during the quarter, compared to the consensus estimate of $945.82 million. Cheesecake Factory had a net margin of 4.33% and a return on equity of 45.92%. The firm's revenue for the quarter was up 5.7% compared to the same quarter last year. During the same quarter last year, the firm earned $1.09 EPS. Sell-side analysts expect that The Cheesecake Factory Incorporated will post 3.71 EPS for the current year.

Cheesecake Factory Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 26th. Investors of record on Tuesday, August 12th will be issued a $0.27 dividend. The ex-dividend date is Tuesday, August 12th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.7%. Cheesecake Factory's payout ratio is presently 33.23%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Raymond James Financial increased their target price on Cheesecake Factory from $70.00 to $73.00 and gave the company an "outperform" rating in a research note on Friday. Stephens reaffirmed an "overweight" rating and set a $60.00 price objective on shares of Cheesecake Factory in a research note on Thursday, May 1st. Oppenheimer raised their price objective on Cheesecake Factory from $65.00 to $75.00 and gave the company an "outperform" rating in a research note on Friday, July 11th. Barclays raised their price objective on Cheesecake Factory from $57.00 to $62.00 and gave the company an "underweight" rating in a research note on Wednesday, July 30th. Finally, The Goldman Sachs Group reaffirmed a "neutral" rating and set a $67.00 price objective (up from $66.00) on shares of Cheesecake Factory in a research note on Thursday, July 10th. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $61.94.

Insider Transactions at Cheesecake Factory

In related news, insider Keith Carango sold 50,500 shares of the business's stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $55.12, for a total value of $2,783,560.00. Following the completion of the sale, the insider owned 20,774 shares in the company, valued at approximately $1,145,062.88. The trade was a 70.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Alexander L. Cappello sold 12,388 shares of the business's stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $65.88, for a total value of $816,121.44. Following the completion of the sale, the director owned 6,806 shares of the company's stock, valued at $448,379.28. The trade was a 64.54% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 188,723 shares of company stock valued at $11,005,819 in the last ninety days. Corporate 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.