Callan Family Office LLC Makes New Investment in The Cheesecake Factory Incorporated $CAKE

Key Points

• Callan Family Office LLC acquired 8,885 Cheesecake Factory shares worth approximately $707,000 during the second quarter. Institutional investors collectively own 94.48% of CAKE.
• Cheesecake Factory reported quarterly EPS of $1.44, beating estimates by $0.26, while revenue rose 7.7% year over year to $1.03 billion. The company also maintained a quarterly dividend of $0.30 per share.
• CAKE shares opened at $113.49, near their 52-week high of $118.46, while analysts’ consensus rating remained Hold with an average price target of $81.00. Insiders have sold 216,239 shares worth roughly $22.5 million over the past 90 days.

Callan Family Office LLC acquired a new stake in The Cheesecake Factory Incorporated (NASDAQ:CAKE - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 8,885 shares of the restaurant operator's stock, valued at approximately $707,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in CAKE. Allworth Financial LP acquired a new position in shares of Cheesecake Factory during the 2nd quarter worth approximately $36,000. Global Retirement Partners LLC increased its holdings in shares of Cheesecake Factory by 661.7% in the fourth quarter. Global Retirement Partners LLC now owns 716 shares of the restaurant operator's stock valued at $36,000 after purchasing an additional 622 shares during the last quarter. NFSG Corp lifted its stake in shares of Cheesecake Factory by 115.8% during the 1st quarter. NFSG Corp now owns 682 shares of the restaurant operator's stock worth $37,000 after buying an additional 366 shares during the last quarter. Root Financial Partners LLC boosted its holdings in shares of Cheesecake Factory by 973.2% during the 4th quarter. Root Financial Partners LLC now owns 880 shares of the restaurant operator's stock worth $44,000 after buying an additional 798 shares during the period. Finally, Arax Advisory Partners acquired a new position in Cheesecake Factory in the 4th quarter valued at about $50,000. 94.48% of the stock is currently owned by institutional investors.

Insider Transactions at Cheesecake Factory

In related news, Chairman David Overton sold 94,145 shares of the company's stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $106.27, for a total transaction of $10,004,789.15. Following the completion of the transaction, the chairman directly owned 89,805 shares in the company, valued at $9,543,577.35. This represents a 51.18% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Ashley W. Hanscom sold 3,500 shares of the stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $100.00, for a total transaction of $350,000.00. Following the completion of the transaction, the insider directly owned 7,541 shares of the company's stock, valued at approximately $754,100. The trade was a 31.70% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 216,239 shares of company stock valued at $22,463,500. Company insiders own 8.00% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft restated a "hold" rating and set a $68.00 price objective on shares of Cheesecake Factory in a report on Thursday, April 30th. Barclays increased their price objective on Cheesecake Factory from $58.00 to $60.00 and gave the stock an "underweight" rating in a research report on Thursday, April 30th. UBS Group boosted their target price on shares of Cheesecake Factory from $53.00 to $60.00 and gave the company a "sell" rating in a research report on Thursday, July 23rd. Oppenheimer increased their target price on shares of Cheesecake Factory from $91.00 to $101.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 29th. Finally, Argus boosted their price target on Cheesecake Factory from $72.00 to $110.00 and gave the company a "buy" rating in a research note on Thursday, July 30th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $81.00.

Cheesecake Factory Stock Down 1.0%

Shares of CAKE opened at $113.49 on Wednesday. The Cheesecake Factory Incorporated has a one year low of $43.07 and a one year high of $118.46. The company has a market cap of $5.65 billion, a P/E ratio of 30.76, a P/E/G ratio of 2.05 and a beta of 1.00. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.59 and a quick ratio of 0.52. The firm has a 50 day simple moving average of $91.94 and a two-hundred day simple moving average of $72.28.

Cheesecake Factory (NASDAQ:CAKE - Get Free Report) last issued its earnings results on Tuesday, July 28th. The restaurant operator reported $1.44 earnings per share for the quarter, beating analysts' consensus estimates of $1.18 by $0.26. Cheesecake Factory had a return on equity of 43.97% and a net margin of 4.61%.The firm had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $999.54 million. During the same quarter last year, the business posted $1.16 EPS. The company's revenue was up 7.7% compared to the same quarter last year. Research analysts forecast that The Cheesecake Factory Incorporated will post 4.47 EPS for the current fiscal year.

Cheesecake Factory Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 25th. Investors of record on Tuesday, August 11th were paid a $0.30 dividend. The ex-dividend date of this dividend was Tuesday, August 11th. This represents a $1.20 annualized dividend and a yield of 1.1%. Cheesecake Factory's dividend payout ratio (DPR) is 32.52%.

Cheesecake Factory Company Profile

The Cheesecake Factory Incorporated NASDAQ: CAKE is an American restaurant company and distributor renowned for its full-service casual-dining concept and specialty cheesecakes. Headquartered in Calabasas Hills, California, the company operates more than 200 restaurants under The Cheesecake Factory® brand across the United States, Puerto Rico and select international markets. In addition to sit-down dining, Cheesecake Factory franchised locations offer catering and take-out services, while a separate manufacturing arm supplies branded cheesecakes and desserts to supermarkets, hotels and other foodservice operators.

The origins of the brand trace back to a small cheesecake bakery founded in Detroit in the 1940s.

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