6,750 Shares in The Cheesecake Factory Incorporated $CAKE Bought by AlphaQuest LLC

Key Points

• AlphaQuest LLC has acquired a new stake in The Cheesecake Factory, purchasing 6,750 shares valued at approximately $328,000 in Q1.
• Several analysts have modified their price targets for Cheesecake Factory, with estimates now ranging from $50.00 to $67.00, reflecting a mix of buy, hold, and sell ratings.
• Cheesecake Factory reported an earnings per share of $1.16 for the last quarter, exceeding analyst expectations, while also announcing a quarterly dividend of $0.27 per share.

AlphaQuest LLC purchased a new position in shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 6,750 shares of the restaurant operator's stock, valued at approximately $328,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Wellington Management Group LLP raised its holdings in shares of 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 purchasing an additional 1,859,194 shares during the period. Westwood Holdings Group Inc. bought a new stake in Cheesecake Factory in the first quarter valued at approximately $75,795,000. Invesco Ltd. lifted its position in shares of Cheesecake Factory by 83.5% in the first quarter. Invesco Ltd. now owns 2,591,205 shares of the restaurant operator's stock valued at $126,088,000 after buying an additional 1,178,722 shares during the last quarter. Victory Capital Management Inc. lifted its position in shares of Cheesecake Factory by 64.1% in the first quarter. Victory Capital Management Inc. now owns 1,766,131 shares of the restaurant operator's stock valued at $85,940,000 after buying an additional 689,784 shares during the last quarter. Finally, Junto Capital Management LP bought a new position in shares of Cheesecake Factory during the 4th quarter worth approximately $21,827,000. Institutional investors own 94.48% of the company's stock.

Analyst Ratings Changes

Several brokerages have issued reports on CAKE. Barclays raised their price objective on shares of Cheesecake Factory from $57.00 to $62.00 and gave the stock an "underweight" rating in a research report on Wednesday, July 30th. UBS Group upped their price objective on Cheesecake Factory from $45.00 to $50.00 and gave the company a "sell" rating in a report on Friday, July 18th. Piper Sandler lifted their target price on Cheesecake Factory from $54.00 to $62.00 and gave the stock a "neutral" rating in a report on Monday, August 4th. Robert W. Baird set a $64.00 target price on shares of Cheesecake Factory and gave the company a "neutral" rating in a research report on Wednesday, July 30th. Finally, Bank of America raised their price target on shares of Cheesecake Factory from $61.00 to $67.00 and gave the stock a "neutral" rating in a research report on Friday, July 18th. Seven research analysts have rated the stock with a Buy rating, five have issued a Hold rating and four have given a Sell rating to the stock. According to MarketBeat.com, Cheesecake Factory currently has an average rating of "Hold" and an average target price of $61.94.

Insider Buying and Selling at Cheesecake Factory

In other news, EVP Scarlett May sold 18,800 shares of the company's stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $58.82, for a total value of $1,105,816.00. Following the completion of the transaction, the executive vice president owned 22,872 shares of the company's stock, valued at $1,345,331.04. This represents a 45.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, President David M. Gordon sold 43,335 shares of the business's stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $63.06, for a total transaction of $2,732,705.10. Following the sale, the president directly owned 24,532 shares in the company, valued at $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. Insiders have sold a total of 74,523 shares of company stock worth $4,654,643 over the last 90 days. Insiders own 8.40% of the company's stock.

Cheesecake Factory Price Performance

CAKE traded down $0.58 on Monday, hitting $61.46. 812,183 shares of the stock were exchanged, compared to its average volume of 1,301,204. The firm has a market capitalization of $3.06 billion, a price-to-earnings ratio of 18.91, a PEG ratio of 1.46 and a beta of 1.10. 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 12 month low of $35.40 and a 12 month high of $69.70. The business has a 50-day moving average of $63.09 and a two-hundred day moving average of $55.65.

Cheesecake Factory (NASDAQ:CAKE - Get Free Report) last issued its earnings results on Tuesday, July 29th. The restaurant operator reported $1.16 EPS for the quarter, beating the consensus estimate of $1.06 by $0.10. The company had revenue of $955.83 million during 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 business's revenue for the quarter was up 5.7% compared to the same quarter last year. During the same period in the previous year, the company earned $1.09 EPS. Sell-side analysts forecast that The Cheesecake Factory Incorporated will post 3.71 EPS for the current fiscal year.

Cheesecake Factory Dividend Announcement

The firm also recently announced 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 dividend yield of 1.8%. The ex-dividend date of this dividend was Tuesday, August 12th. Cheesecake Factory's dividend payout ratio (DPR) 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.