Banque Pictet & Cie SA Purchases Shares of 10,572 The Cheesecake Factory Incorporated (NASDAQ:CAKE)

Banque Pictet & Cie SA bought a new stake in shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 10,572 shares of the restaurant operator's stock, valued at approximately $514,000.

A number of other institutional investors also recently modified their holdings of the stock. Lido Advisors LLC raised its holdings in Cheesecake Factory by 2.0% in the 4th quarter. Lido Advisors LLC now owns 10,805 shares of the restaurant operator's stock worth $513,000 after acquiring an additional 215 shares during the period. Summit Investment Advisors Inc. raised its holdings in Cheesecake Factory by 4.7% in the 4th quarter. Summit Investment Advisors Inc. now owns 5,051 shares of the restaurant operator's stock worth $240,000 after acquiring an additional 228 shares during the period. Blair William & Co. IL raised its holdings in Cheesecake Factory by 5.2% in the 4th quarter. Blair William & Co. IL now owns 5,772 shares of the restaurant operator's stock worth $274,000 after acquiring an additional 283 shares during the period. Wealth Enhancement Advisory Services LLC raised its holdings in Cheesecake Factory by 5.8% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 7,049 shares of the restaurant operator's stock worth $334,000 after acquiring an additional 386 shares during the period. Finally, Golden State Wealth Management LLC raised its holdings in 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 worth $52,000 after acquiring an additional 530 shares during the period. Institutional investors and hedge funds own 94.48% of the company's stock.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Oppenheimer lifted their target price on shares of Cheesecake Factory from $65.00 to $75.00 and gave the stock an "outperform" rating in a report on Friday. Morgan Stanley lifted their target price on shares of Cheesecake Factory from $39.00 to $40.00 and gave the stock an "underweight" rating in a report on Thursday, May 1st. Wells Fargo & Company boosted their price objective on shares of Cheesecake Factory from $45.00 to $50.00 and gave the stock an "equal weight" rating in a report on Thursday, May 1st. JPMorgan Chase & Co. boosted their price objective on shares of Cheesecake Factory from $50.00 to $58.00 and gave the stock an "underweight" rating in a report on Wednesday, June 25th. Finally, Barclays dropped their price objective on shares of Cheesecake Factory from $50.00 to $46.00 and set an "underweight" rating on the stock in a report on Tuesday, April 22nd. Four research analysts have rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $55.44.

Insider Transactions at Cheesecake Factory

In related news, insider Keith Carango sold 50,500 shares of Cheesecake Factory stock in a transaction that occurred 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 $1,145,062.88. This trade represents a 70.85% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Matthew Eliot Clark sold 42,900 shares of Cheesecake Factory stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $56.00, for a total transaction of $2,402,400.00. Following the sale, 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 ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 133,000 shares of company stock worth $7,456,992. 8.40% of the stock is owned by insiders.

Cheesecake Factory Trading Up 0.9%

NASDAQ CAKE traded up $0.60 during trading hours on Friday, hitting $64.77. The company's stock had a trading volume of 1,181,152 shares, compared to its average volume of 1,253,917. The stock has a fifty day moving average of $57.51 and a 200 day moving average of $52.68. The Cheesecake Factory Incorporated has a twelve month low of $33.50 and a twelve month high of $65.99. The firm has a market capitalization of $3.21 billion, a P/E ratio of 20.30, a PEG ratio of 1.63 and a beta of 1.16. The company has a quick ratio of 0.43, a current ratio of 0.53 and a debt-to-equity ratio of 1.85.

Cheesecake Factory (NASDAQ:CAKE - Get Free Report) last issued its earnings results on Wednesday, April 30th. The restaurant operator reported $0.93 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $927.17 million. During the same quarter in the prior year, the firm earned $0.73 earnings per share. The business's quarterly revenue was up 4.0% on a year-over-year basis. Equities research analysts forecast that The Cheesecake Factory Incorporated will post 3.71 earnings per share for the current fiscal year.

Cheesecake Factory Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 27th. Stockholders of record on Wednesday, May 14th were paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date was Wednesday, May 14th. Cheesecake Factory's dividend payout ratio is presently 33.86%.

Cheesecake Factory 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.