Corient Private Wealth LP Buys Shares of 101,425 The Cheesecake Factory Incorporated $CAKE

Key Points

• Corient Private Wealth purchased 101,425 Cheesecake Factory shares worth approximately $8.1 million, giving it a 0.20% stake. Institutional investors collectively own 94.48% of the company.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $83.47, despite several firms recently raising their targets and ratings.
• Cheesecake Factory exceeded quarterly expectations with earnings of $1.44 per share on $1.03 billion in revenue, while insiders sold more than $22.4 million of stock over the past 90 days.

Corient Private Wealth LP purchased a new stake in shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE - Free Report) in the second quarter, according to its most recent filing with the SEC. The firm purchased 101,425 shares of the restaurant operator's stock, valued at approximately $8,067,000. Corient Private Wealth LP owned 0.20% of Cheesecake Factory at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of CAKE. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Cheesecake Factory by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,742 shares of the restaurant operator's stock valued at $1,399,000 after purchasing an additional 1,268 shares in the last quarter. Woodline Partners LP boosted its position in Cheesecake Factory by 30.9% during the first quarter. Woodline Partners LP now owns 92,664 shares of the restaurant operator's stock worth $4,509,000 after purchasing an additional 21,887 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Cheesecake Factory by 8.5% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 109,800 shares of the restaurant operator's stock worth $5,343,000 after purchasing an additional 8,592 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in Cheesecake Factory by 32.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,333 shares of the restaurant operator's stock valued at $83,000 after purchasing an additional 323 shares during the last quarter. Finally, First Trust Advisors LP grew its holdings in Cheesecake Factory by 5.0% in the second quarter. First Trust Advisors LP now owns 112,020 shares of the restaurant operator's stock valued at $7,019,000 after purchasing an additional 5,326 shares during the last quarter. Hedge funds and other institutional investors own 94.48% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Argus raised their price target on Cheesecake Factory from $72.00 to $110.00 and gave the company a "buy" rating in a research report on Thursday, July 30th. Oppenheimer boosted their price objective 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. Zacks Research raised shares of Cheesecake Factory from a "hold" rating to a "strong-buy" rating in a research note on Thursday, July 30th. Bank of America raised their target price on shares of Cheesecake Factory from $66.00 to $79.00 and gave the company a "neutral" rating in a report on Thursday, July 2nd. Finally, Citigroup lifted their target price on shares of Cheesecake Factory from $76.00 to $90.00 and gave the stock a "buy" rating in a research report on Friday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, ten have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Cheesecake Factory has a consensus rating of "Hold" and an average price target of $83.47.

Insider Activity at Cheesecake Factory

In other news, President David M. Gordon sold 31,950 shares of the company's stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $110.03, for a total value of $3,515,458.50. Following the completion of the sale, the president owned 26,875 shares of the company's stock, valued at $2,957,056.25. This represents a 54.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Ashley W. Hanscom sold 3,500 shares of the company's stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $100.00, for a total value of $350,000.00. Following the completion of the sale, the insider directly owned 7,541 shares of the company's stock, valued at $754,100. The trade was a 31.70% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 216,239 shares of company stock valued at $22,463,500 over the last 90 days. Corporate insiders own 8.00% of the company's stock.

Cheesecake Factory Stock Performance

Shares of CAKE stock opened at $112.07 on Monday. The company's fifty day simple moving average is $94.09 and its 200-day simple moving average is $73.32. The Cheesecake Factory Incorporated has a 52 week low of $43.07 and a 52 week high of $118.46. The company has a current ratio of 0.59, a quick ratio of 0.52 and a debt-to-equity ratio of 1.08. The company has a market cap of $5.58 billion, a PE ratio of 30.37, a P/E/G ratio of 1.99 and a beta of 1.00.

Cheesecake Factory (NASDAQ:CAKE - Get Free Report) last posted its earnings results on Tuesday, July 28th. The restaurant operator reported $1.44 earnings per share for the quarter, beating the consensus estimate of $1.18 by $0.26. Cheesecake Factory had a net margin of 4.61% and a return on equity of 43.97%. The business had revenue of $1.03 billion for the quarter, compared to analyst estimates of $999.54 million. During the same quarter in the previous year, the business posted $1.16 EPS. The business's quarterly revenue was up 7.7% on a year-over-year basis. As a group, equities research analysts anticipate that The Cheesecake Factory Incorporated will post 4.52 EPS for the current year.

Cheesecake Factory Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 25th. Shareholders of record on Tuesday, August 11th were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date was Tuesday, August 11th. Cheesecake Factory's payout ratio is currently 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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