6,426 Shares in The Cheesecake Factory Incorporated $CAKE Acquired by CreativeOne Wealth LLC

Key Points

• CreativeOne Wealth LLC purchased 6,426 shares of The Cheesecake Factory, valued at approximately $313,000, as part of new investments made in the first quarter.
• Insider trading activity saw President David M. Gordon selling 43,335 shares, a 63.85% decrease in his position, while Director Alexander L. Cappello also reduced his holdings by 64.54%.
• Analysts have set varying price targets for the stock, with Oppenheimer projecting an increase to $75.00, while the consensus price target stands at $61.94.

CreativeOne Wealth LLC purchased a new position in shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 6,426 shares of the restaurant operator's stock, valued at approximately $313,000.

Several other institutional investors have also recently made changes to their positions in the company. Oliver Luxxe Assets LLC purchased a new position in shares of Cheesecake Factory during the 1st quarter valued at approximately $2,054,000. Smartleaf Asset Management LLC increased its holdings in shares of Cheesecake Factory by 24.4% during the 1st quarter. Smartleaf Asset Management LLC now owns 3,268 shares of the restaurant operator's stock valued at $162,000 after purchasing an additional 640 shares in the last quarter. AlphaQuest LLC purchased a new position in shares of Cheesecake Factory during the 1st quarter valued at approximately $328,000. EntryPoint Capital LLC purchased a new position in shares of Cheesecake Factory during the 1st quarter valued at approximately $517,000. Finally, Wellington Management Group LLP grew its stake in Cheesecake Factory by 156.7% in the 1st quarter. Wellington Management Group LLP now owns 3,045,705 shares of the restaurant operator's stock valued at $148,204,000 after acquiring an additional 1,859,194 shares during the period. 94.48% of the stock is owned by hedge funds and other institutional investors.

Cheesecake Factory Trading Down 0.7%

Shares of CAKE stock traded down $0.45 on Friday, hitting $60.63. 907,061 shares of the stock traded hands, compared to its average volume of 1,047,348. The firm's 50-day moving average price is $63.15 and its two-hundred day moving average price is $55.88. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.42 and a current ratio of 0.51. The stock has a market capitalization of $3.02 billion, a PE ratio of 18.66, a PEG ratio of 1.44 and a beta of 1.10. The Cheesecake Factory Incorporated has a twelve month low of $35.40 and a twelve month 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 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.10. The firm had revenue of $955.83 million for the quarter, compared to analysts' expectations of $945.82 million. Cheesecake Factory had a net margin of 4.33% and a return on equity of 45.92%. The company's revenue was up 5.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.09 EPS. As a group, analysts anticipate that The Cheesecake Factory Incorporated will post 3.71 EPS for the current year.

Cheesecake Factory Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 26th. Stockholders of record on Tuesday, August 12th were given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend was Tuesday, August 12th. Cheesecake Factory's dividend payout ratio is currently 33.23%.

Insider Transactions at Cheesecake Factory

In other news, President David M. Gordon sold 43,335 shares of the stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $63.06, for a total transaction of $2,732,705.10. Following the sale, the president owned 24,532 shares of the company's stock, valued at approximately $1,546,987.92. This represents a 63.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Alexander L. Cappello sold 12,388 shares of the company's stock in a transaction that occurred on Thursday, July 31st. The stock was sold at an average price of $65.88, for a total transaction of $816,121.44. Following the sale, the director owned 6,806 shares in the company, valued at $448,379.28. The trade was a 64.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 74,523 shares of company stock valued at $4,654,643. 8.40% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on CAKE. Piper Sandler lifted their price target on shares of Cheesecake Factory from $54.00 to $62.00 and gave the company a "neutral" rating in a research note on Monday, August 4th. Bank of America lifted their price target on shares of Cheesecake Factory from $61.00 to $67.00 and gave the company a "neutral" rating in a research note on Friday, July 18th. Barclays lifted their price target on shares of Cheesecake Factory from $57.00 to $62.00 and gave the company an "underweight" rating in a research note on Wednesday, July 30th. Wells Fargo & Company lifted their price target on shares of Cheesecake Factory from $60.00 to $65.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 30th. Finally, Argus set a $60.00 price target on shares of Cheesecake Factory in a research note on Wednesday, May 14th. Seven equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $61.94.

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.