Bank of New York Mellon Corp Has $40 Million Holdings in The Cheesecake Factory Incorporated (NASDAQ:CAKE)

Bank of New York Mellon Corp decreased its position in shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE - Free Report) by 37.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 822,029 shares of the restaurant operator's stock after selling 483,987 shares during the period. Bank of New York Mellon Corp owned about 1.66% of Cheesecake Factory worth $40,000,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. USA Financial Formulas bought a new stake in shares of Cheesecake Factory in the 1st quarter worth about $49,000. Golden State Wealth Management LLC boosted its holdings in shares of Cheesecake Factory by 100.0% in the 1st quarter. Golden State Wealth Management LLC now owns 1,060 shares of the restaurant operator's stock valued at $52,000 after buying an additional 530 shares during the period. FORA Capital LLC acquired a new position in shares of Cheesecake Factory in the 4th quarter valued at about $203,000. Mariner LLC acquired a new position in shares of Cheesecake Factory in the 4th quarter valued at about $213,000. Finally, Cibc World Markets Corp acquired a new position in shares of Cheesecake Factory in the 4th quarter valued at about $214,000. Institutional investors own 94.48% of the company's stock.

Cheesecake Factory Trading Up 1.6%

Shares of CAKE stock traded up $0.99 during trading hours on Friday, reaching $62.90. 642,032 shares of the stock traded hands, compared to its average volume of 1,254,024. The Cheesecake Factory Incorporated has a 1-year low of $33.50 and a 1-year high of $65.99. The business has a fifty day moving average price of $58.53 and a 200 day moving average price of $53.08. The company has a quick ratio of 0.43, a current ratio of 0.53 and a debt-to-equity ratio of 1.85. The firm has a market capitalization of $3.12 billion, a PE ratio of 19.74, a PEG ratio of 1.58 and a beta of 1.16.

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

Cheesecake Factory Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 27th. Shareholders of record on Wednesday, May 14th were paid a $0.27 dividend. The ex-dividend date was Wednesday, May 14th. This represents a $1.08 annualized dividend and a yield of 1.72%. Cheesecake Factory's dividend payout ratio is presently 33.86%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on CAKE. Oppenheimer boosted their target price on shares of 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 shares of Cheesecake Factory from $63.00 to $70.00 and gave the stock an "outperform" rating in a research note on Thursday. Morgan Stanley set a $45.00 price target on shares of Cheesecake Factory and gave the stock an "underweight" rating in a research note on Monday. Wells Fargo & Company upped their price target on shares of Cheesecake Factory from $50.00 to $60.00 and gave the stock an "equal weight" rating in a research note on Thursday. Finally, Robert W. Baird boosted their target price on shares of Cheesecake Factory from $46.00 to $49.00 and gave the stock a "neutral" rating in a report on Thursday, May 1st. Four analysts have rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $59.06.

Insider Buying and Selling at Cheesecake Factory

In other Cheesecake Factory news, CFO Matthew Eliot Clark sold 42,900 shares of the company's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $56.00, for a total value of $2,402,400.00. Following the transaction, the chief financial officer owned 40,878 shares in the company, valued at approximately $2,289,168. This represents a 51.21% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Scarlett May sold 20,800 shares of the company's stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $56.02, for a total transaction of $1,165,216.00. Following the completion of the transaction, the executive vice president owned 22,872 shares in the company, valued at approximately $1,281,289.44. This represents a 47.63% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 133,000 shares of company stock worth $7,456,992. 8.40% of the stock is currently owned by company insiders.

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.