6,730 Shares in The Cheesecake Factory Incorporated $CAKE Purchased by Counterpoint Mutual Funds LLC

Key Points

• Counterpoint Mutual Funds LLC has acquired 6,730 shares of The Cheesecake Factory, valued at approximately $422,000, during the 2nd quarter of the year.
• Analyst ratings for Cheesecake Factory vary, with seven analysts rating it as a Buy and a consensus target price of $61.94.
• The Cheesecake Factory recently declared a quarterly dividend of $0.27, yielding around 2.0%, with a payout ratio of 33.23%.

Counterpoint Mutual Funds LLC acquired 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 (SEC). The fund acquired 6,730 shares of the restaurant operator's stock, valued at approximately $422,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. USA Financial Formulas bought a new stake in shares of Cheesecake Factory in the 1st quarter worth approximately $49,000. Golden State Wealth Management LLC boosted its holdings in 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 acquiring an additional 530 shares in the last quarter. SBI Securities Co. Ltd. raised its position in shares of Cheesecake Factory by 38.5% in the 1st 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 last quarter. Bayforest Capital Ltd bought a new position in Cheesecake Factory in the 1st quarter worth about $72,000. Finally, Smartleaf Asset Management LLC grew its position in 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 during the last quarter. Institutional investors own 94.48% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on CAKE shares. Barclays upped their target price on shares of Cheesecake Factory from $57.00 to $62.00 and gave the stock an "underweight" rating in a research note on Wednesday, July 30th. Oppenheimer increased their target price on Cheesecake Factory from $65.00 to $75.00 and gave the company an "outperform" rating in a research note on Friday, July 11th. Raymond James Financial upped their price target on Cheesecake Factory from $70.00 to $73.00 and gave the company an "outperform" rating in a report on Friday, August 15th. JPMorgan Chase & Co. increased their price objective on Cheesecake Factory from $50.00 to $58.00 and gave the company an "underweight" rating in a research report on Wednesday, June 25th. Finally, Morgan Stanley boosted their target price on Cheesecake Factory from $45.00 to $47.00 and gave the stock an "underweight" rating in a research report on Thursday, July 31st. Seven research analysts have rated the stock with a Buy rating, five have given a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $61.94.

Insider Buying and Selling at Cheesecake Factory

In related news, Director Alexander L. Cappello sold 12,388 shares of the business's stock in a transaction dated Thursday, July 31st. The stock was sold at an average price of $65.88, for a total value of $816,121.44. Following the sale, the director directly owned 6,806 shares in the company, valued at approximately $448,379.28. The trade was a 64.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President David M. Gordon sold 43,335 shares of the stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $63.06, for a total value of $2,732,705.10. Following the transaction, the president directly owned 24,532 shares of the company's stock, valued at approximately $1,546,987.92. The trade was a 63.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.10% of the stock is owned by insiders.

Cheesecake Factory Stock Up 1.0%

CAKE opened at $54.44 on Wednesday. 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 Cheesecake Factory Incorporated has a fifty-two week low of $38.40 and a fifty-two week high of $69.70. The firm's fifty day moving average is $61.29 and its 200 day moving average is $56.21. The stock has a market cap of $2.71 billion, a price-to-earnings ratio of 16.75, a price-to-earnings-growth ratio of 1.28 and a beta of 1.10.

Cheesecake Factory (NASDAQ:CAKE - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The restaurant operator reported $1.16 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.06 by $0.10. Cheesecake Factory had a return on equity of 45.92% and a net margin of 4.33%.The business had revenue of $955.83 million during the quarter, compared to analyst estimates of $945.82 million. During the same quarter in the prior year, the business posted $1.09 EPS. Cheesecake Factory's revenue for the quarter was up 5.7% compared to the same quarter last year. On average, sell-side analysts forecast that The Cheesecake Factory Incorporated will post 3.71 earnings per share for the current fiscal year.

Cheesecake Factory Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 26th. Shareholders of record on Tuesday, August 12th were issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date was Tuesday, August 12th. Cheesecake Factory's payout ratio is currently 33.23%.

About Cheesecake Factory

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.

Want to see what other hedge funds are holding CAKE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Cheesecake Factory Incorporated (NASDAQ:CAKE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.