Bosun Asset Management LLC Makes New Investment in The Cheesecake Factory Incorporated $CAKE

Key Points

• Bosun Asset Management LLC purchased 6,545 shares of The Cheesecake Factory, valued at approximately $318,000, as part of their new investment in the company during the first quarter.
• Recent analyst reports show mixed ratings for Cheesecake Factory, with a consensus rating of "Hold" and price targets ranging from $47.00 to $73.00.
• The Cheesecake Factory reported earnings of $1.16 per share for the last quarter, surpassing analyst expectations and showing a 5.7% year-over-year revenue increase.

Bosun Asset Management LLC bought a new position in shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 6,545 shares of the restaurant operator's stock, valued at approximately $318,000.

Other institutional investors have also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD lifted its holdings in shares of Cheesecake Factory by 10.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 32,774 shares of the restaurant operator's stock valued at $1,555,000 after acquiring an additional 3,155 shares during the period. Northern Trust Corp lifted its holdings in shares of Cheesecake Factory by 17.8% during the fourth quarter. Northern Trust Corp now owns 538,285 shares of the restaurant operator's stock valued at $25,536,000 after acquiring an additional 81,450 shares during the period. Captrust Financial Advisors increased its stake in shares of Cheesecake Factory by 17.0% in the fourth quarter. Captrust Financial Advisors now owns 6,302 shares of the restaurant operator's stock valued at $299,000 after buying an additional 917 shares in the last quarter. Cetera Investment Advisers increased its stake in shares of Cheesecake Factory by 2.7% in the fourth quarter. Cetera Investment Advisers now owns 33,296 shares of the restaurant operator's stock valued at $1,580,000 after buying an additional 877 shares in the last quarter. Finally, Crestline Management LP bought a new stake in Cheesecake Factory during the 4th quarter worth about $524,000. Institutional investors and hedge funds own 94.48% of the company's stock.

Insider Activity at Cheesecake Factory

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

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on CAKE. Oppenheimer raised their price target on Cheesecake Factory from $65.00 to $75.00 and gave the company an "outperform" rating in a report on Friday, July 11th. Argus set a $60.00 target price on Cheesecake Factory in a research note on Wednesday, May 14th. The Goldman Sachs Group reiterated a "neutral" rating and set a $67.00 target price (up previously from $66.00) on shares of Cheesecake Factory in a report on Thursday, July 10th. Raymond James Financial upped their target price on Cheesecake Factory from $70.00 to $73.00 and gave the stock an "outperform" rating in a report on Friday, August 15th. Finally, Piper Sandler increased their price target on shares of Cheesecake Factory from $54.00 to $62.00 and gave the company a "neutral" rating in a report on Monday, August 4th. Seven equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and four have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $61.94.

Cheesecake Factory Stock Down 1.5%

NASDAQ CAKE traded down $0.91 on Wednesday, hitting $58.20. 315,262 shares of the company were exchanged, compared to its average volume of 1,423,277. The company has a market cap of $2.90 billion, a PE ratio of 17.92, a PEG ratio of 1.43 and a beta of 1.10. The stock has a fifty day moving average of $63.00 and a 200-day moving average of $55.95. The company has a current ratio of 0.51, a quick ratio of 0.42 and a debt-to-equity ratio of 1.40. The Cheesecake Factory Incorporated has a 12 month low of $35.40 and a 12 month high of $69.70.

Cheesecake Factory (NASDAQ:CAKE - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The restaurant operator reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $945.82 million. During the same quarter in the prior year, the company earned $1.09 earnings per share. The company's quarterly revenue was up 5.7% on a year-over-year basis. As a group, analysts forecast that The Cheesecake Factory Incorporated will post 3.71 earnings per share for the current year.

Cheesecake Factory Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 26th. Investors of record on Tuesday, August 12th were issued a $0.27 dividend. The ex-dividend date of this dividend was Tuesday, August 12th. This represents a $1.08 annualized dividend and a yield of 1.9%. Cheesecake Factory's dividend payout ratio (DPR) is 33.23%.

Cheesecake Factory Company 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.