The Cheesecake Factory Incorporated $CAKE Shares Sold by Charles Schwab Investment Management Inc.

Key Points

• Charles Schwab Investment Management Inc. reduced its stake in The Cheesecake Factory by 1.3%, now holding 610,762 shares valued at approximately $29.72 million.
• Cheesecake Factory reported earnings of $1.16 per share for the last quarter, exceeding the consensus estimate of $1.06, with total revenue of $955.83 million.
• The company has recently announced a quarterly dividend of $0.27 per share, which will be paid on August 26th, representing an annualized yield of 1.7% and a payout ratio of 33.23%.

Charles Schwab Investment Management Inc. reduced its stake in shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE - Free Report) by 1.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 610,762 shares of the restaurant operator's stock after selling 7,908 shares during the quarter. Charles Schwab Investment Management Inc. owned about 1.24% of Cheesecake Factory worth $29,720,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Lido Advisors LLC boosted its stake in Cheesecake Factory by 2.0% during the 4th quarter. Lido Advisors LLC now owns 10,805 shares of the restaurant operator's stock worth $513,000 after purchasing an additional 215 shares during the period. Summit Investment Advisors Inc. boosted its stake in Cheesecake Factory by 4.7% during the 4th quarter. Summit Investment Advisors Inc. now owns 5,051 shares of the restaurant operator's stock worth $240,000 after purchasing an additional 228 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Cheesecake Factory by 2.0% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,121 shares of the restaurant operator's stock worth $638,000 after purchasing an additional 260 shares during the period. Bridges Investment Management Inc. boosted its stake in Cheesecake Factory by 4.0% during the 1st quarter. Bridges Investment Management Inc. now owns 7,677 shares of the restaurant operator's stock worth $374,000 after purchasing an additional 292 shares during the period. Finally, SBI Securities Co. Ltd. boosted its stake in Cheesecake Factory by 38.5% during the 1st quarter. SBI Securities Co. Ltd. now owns 1,244 shares of the restaurant operator's stock worth $61,000 after purchasing an additional 346 shares during the period. 94.48% of the stock is currently owned by institutional investors and hedge funds.

Cheesecake Factory Price Performance

Cheesecake Factory stock traded down $0.4450 during midday trading on Monday, reaching $62.2650. The company's stock had a trading volume of 45,568 shares, compared to its average volume of 1,452,300. The Cheesecake Factory Incorporated has a fifty-two week low of $35.40 and a fifty-two week high of $69.70. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.42 and a current ratio of 0.51. The stock's 50 day simple moving average is $62.83 and its 200 day simple moving average is $55.32. The firm has a market capitalization of $3.10 billion, a PE ratio of 19.16, a P/E/G ratio of 1.49 and a beta of 1.17.

Cheesecake Factory (NASDAQ:CAKE - Get Free Report) last released its earnings results on Tuesday, July 29th. The restaurant operator reported $1.16 EPS for the quarter, beating analysts' consensus estimates of $1.06 by $0.10. Cheesecake Factory had a return on equity of 45.92% and a net margin of 4.33%.The company had revenue of $955.83 million during the quarter, compared to the consensus estimate of $945.82 million. During the same quarter last year, the company earned $1.09 earnings per share. Cheesecake Factory's quarterly revenue was up 5.7% compared to the same quarter last year. On average, equities research analysts forecast that The Cheesecake Factory Incorporated will post 3.71 earnings per share for the current year.

Cheesecake Factory Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 26th. Shareholders of record on Tuesday, August 12th will be issued a $0.27 dividend. The ex-dividend date of this dividend is Tuesday, August 12th. This represents a $1.08 dividend on an annualized basis and a yield of 1.7%. Cheesecake Factory's dividend payout ratio (DPR) is 33.23%.

Analyst Ratings Changes

CAKE has been the subject of a number of recent research reports. UBS Group increased their price target on shares of Cheesecake Factory from $45.00 to $50.00 and gave the stock a "sell" rating in a research note on Friday, July 18th. Wells Fargo & Company boosted their price objective on shares of Cheesecake Factory from $60.00 to $65.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 30th. Morgan Stanley boosted their price objective on shares of Cheesecake Factory from $45.00 to $47.00 and gave the company an "underweight" rating in a research note on Thursday, July 31st. The Goldman Sachs Group reissued a "neutral" rating and issued a $67.00 price objective (up from $66.00) on shares of Cheesecake Factory in a research note on Thursday, July 10th. Finally, Piper Sandler boosted their price objective on shares of Cheesecake Factory from $54.00 to $62.00 and gave the company a "neutral" rating in a research note on Monday, August 4th. Seven 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. Based on data from MarketBeat.com, Cheesecake Factory presently has an average rating of "Hold" and a consensus price target of $61.94.

Insider Buying and Selling

In other Cheesecake Factory news, President David M. Gordon sold 43,335 shares of the company's stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $63.06, for a total value of $2,732,705.10. Following the sale, the president owned 24,532 shares of the company's stock, valued at approximately $1,546,987.92. This represents a 63.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Matthew Eliot Clark sold 42,900 shares of the company's stock in a transaction 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 completion of the sale, the chief financial officer directly owned 40,878 shares in the company, valued at $2,289,168. This trade represents a 51.21% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 188,723 shares of company stock valued at $11,005,819 in the last quarter. Corporate insiders own 8.10% of the company's stock.

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.