The Cheesecake Factory Incorporated (NASDAQ:CAKE) Shares Bought by Aviance Capital Partners LLC

Aviance Capital Partners LLC lifted its position in The Cheesecake Factory Incorporated (NASDAQ:CAKE - Free Report) by 23.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 25,751 shares of the restaurant operator's stock after purchasing an additional 4,863 shares during the quarter. Aviance Capital Partners LLC owned about 0.05% of Cheesecake Factory worth $1,253,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. SBI Securities Co. Ltd. acquired a new position in Cheesecake Factory in the fourth quarter valued at about $43,000. USA Financial Formulas acquired a new position in Cheesecake Factory in the first quarter valued at about $49,000. Golden State Wealth Management LLC lifted its position in shares of Cheesecake Factory by 100.0% during 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 in the last quarter. Smartleaf Asset Management LLC lifted its position in shares of Cheesecake Factory by 208.8% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,628 shares of the restaurant operator's stock worth $125,000 after purchasing an additional 1,777 shares in the last quarter. Finally, Jones Financial Companies Lllp lifted its position in shares of Cheesecake Factory by 150.0% during the fourth quarter. Jones Financial Companies Lllp now owns 3,553 shares of the restaurant operator's stock worth $169,000 after purchasing an additional 2,132 shares in the last quarter. Hedge funds and other institutional investors own 94.48% of the company's stock.

Cheesecake Factory Stock Performance

Shares of CAKE traded down $2.17 during mid-day trading on Monday, reaching $63.53. 1,795,053 shares of the company's stock were exchanged, compared to its average volume of 1,247,602. The business's fifty day simple moving average is $56.10 and its 200-day simple moving average is $52.18. The Cheesecake Factory Incorporated has a 52-week low of $33.50 and a 52-week high of $65.99. The company has a debt-to-equity ratio of 1.85, a current ratio of 0.53 and a quick ratio of 0.43. The stock has a market capitalization of $3.15 billion, a PE ratio of 19.92, a price-to-earnings-growth ratio of 1.67 and a beta of 1.16.

Cheesecake Factory (NASDAQ:CAKE - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The restaurant operator reported $0.93 earnings per share for the quarter, beating analysts' consensus estimates of $0.81 by $0.12. Cheesecake Factory had a net margin of 4.33% and a return on equity of 46.06%. The firm had revenue of $927.20 million for the quarter, compared to analyst estimates of $927.17 million. During the same period last year, the firm posted $0.73 EPS. Cheesecake Factory's quarterly revenue was up 4.0% on a year-over-year basis. On average, equities research analysts expect that The Cheesecake Factory Incorporated will post 3.71 earnings per share for the current year.

Cheesecake Factory Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 27th. Investors of record on Wednesday, May 14th were given a $0.27 dividend. The ex-dividend date was Wednesday, May 14th. This represents a $1.08 dividend on an annualized basis and a yield of 1.70%. Cheesecake Factory's dividend payout ratio (DPR) is 33.86%.

Insider Activity at Cheesecake Factory

In other Cheesecake Factory news, insider Keith Carango sold 50,500 shares of the business's stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $55.12, for a total transaction of $2,783,560.00. Following the sale, the insider directly owned 20,774 shares in the company, valued at approximately $1,145,062.88. The trade was a 70.85% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Scarlett May sold 20,800 shares of Cheesecake Factory stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $56.02, for a total value of $1,165,216.00. Following the transaction, the executive vice president directly owned 22,872 shares of the company's stock, valued at $1,281,289.44. This trade represents a 47.63% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 133,000 shares of company stock worth $7,456,992 in the last three months. Insiders own 8.40% of the company's stock.

Wall Street Analysts Forecast Growth

CAKE has been the topic of several analyst reports. Citigroup reduced their target price on shares of Cheesecake Factory from $67.00 to $62.00 and set a "buy" rating on the stock in a report on Tuesday, April 15th. Morgan Stanley raised their target price on shares of Cheesecake Factory from $39.00 to $40.00 and gave the company an "underweight" rating in a report on Thursday, May 1st. Wells Fargo & Company raised their target price on shares of Cheesecake Factory from $45.00 to $50.00 and gave the company an "equal weight" rating in a report on Thursday, May 1st. JPMorgan Chase & Co. raised their target price on shares of Cheesecake Factory from $50.00 to $58.00 and gave the company an "underweight" rating in a report on Wednesday, June 25th. Finally, Argus set a $60.00 target price on shares of Cheesecake Factory in a report on Wednesday, May 14th. Four equities research analysts have rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat, Cheesecake Factory presently has an average rating of "Hold" and an average price target of $54.63.

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.