Corient Private Wealth LP Has $8.03 Million Stock Holdings in The Cheesecake Factory Incorporated $CAKE

Key Points

• Corient Private Wealth LP increased its Cheesecake Factory stake by 269.9% in the second quarter, holding 100,951 shares valued at approximately $8.03 million. Institutional investors collectively own 94.48% of the company.
• Analyst sentiment remains mixed, with an average rating of “Hold” and an average price target of $85.47, below the reported share price of $95.87.
• Cheesecake Factory surpassed quarterly expectations, reporting $1.44 in EPS and $1.03 billion in revenue, while paying a quarterly dividend of $0.30 per share. Insiders sold approximately $22.3 million of stock over the past 90 days.

Corient Private Wealth LP lifted its holdings in The Cheesecake Factory Incorporated (NASDAQ:CAKE - Free Report) by 269.9% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 100,951 shares of the restaurant operator's stock after buying an additional 73,659 shares during the quarter. Corient Private Wealth LP owned about 0.20% of Cheesecake Factory worth $8,030,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio acquired a new position in shares of Cheesecake Factory during the second quarter worth approximately $2,367,000. Oppenheimer Asset Management Inc. acquired a new stake in shares of Cheesecake Factory in the second quarter valued at approximately $2,606,000. Lotus Technology Management LP acquired a new stake in shares of Cheesecake Factory in the second quarter valued at approximately $1,870,000. Fisher Asset Management LLC raised its position in Cheesecake Factory by 7.2% in the 4th quarter. Fisher Asset Management LLC now owns 503,184 shares of the restaurant operator's stock worth $25,401,000 after purchasing an additional 33,959 shares during the last quarter. Finally, Louisiana State Employees Retirement System bought a new position in Cheesecake Factory in the 1st quarter worth approximately $1,111,000. Institutional investors and hedge funds own 94.48% of the company's stock.

Analyst Ratings Changes

CAKE has been the topic of a number of recent research reports. Weiss Ratings upgraded Cheesecake Factory from a "buy (b-)" rating to a "buy (b)" rating in a research report on Thursday, August 13th. Robert W. Baird upgraded Cheesecake Factory to a "hold" rating in a research report on Monday, August 24th. JPMorgan Chase & Co. upped their price target on Cheesecake Factory from $92.00 to $105.00 and gave the company a "neutral" rating in a research note on Wednesday, August 26th. Argus raised their price target on Cheesecake Factory from $72.00 to $110.00 and gave the company a "buy" rating in a report on Thursday, July 30th. Finally, Northcoast Research lowered Cheesecake Factory from a "buy" rating to a "neutral" rating in a research report on Monday, June 15th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, ten have given 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 an average target price of $85.47.

Cheesecake Factory Price Performance

Shares of CAKE stock opened at $95.87 on Friday. The firm's 50 day moving average price is $101.29 and its two-hundred day moving average price is $77.43. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.52 and a current ratio of 0.59. The Cheesecake Factory Incorporated has a 52-week low of $43.07 and a 52-week high of $118.46. The stock has a market cap of $4.77 billion, a PE ratio of 25.98, a PEG ratio of 1.59 and a beta of 1.01.

Cheesecake Factory (NASDAQ:CAKE - Get Free Report) last issued its earnings results on Tuesday, July 28th. The restaurant operator reported $1.44 EPS 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 company had revenue of $1.03 billion during the quarter, compared to analysts' expectations of $999.54 million. During the same quarter in the previous year, the company posted $1.16 EPS. The business's revenue for the quarter was up 7.7% compared to the same quarter last year. As a group, analysts forecast that The Cheesecake Factory Incorporated will post 4.53 EPS for the current year.

Cheesecake Factory Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 25th. Shareholders of record on Tuesday, August 11th were issued a dividend of $0.30 per share. The ex-dividend date was Tuesday, August 11th. This represents a $1.20 dividend on an annualized basis and a yield of 1.3%. Cheesecake Factory's dividend payout ratio (DPR) is 32.52%.

Insider Activity

In other news, 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. This represents a 31.70% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Matthew Clark sold 68,900 shares of the stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $99.30, for a total transaction of $6,841,770.00. Following the completion of the sale, the chief financial officer owned 45,109 shares in the company, valued at $4,479,323.70. This represents a 60.43% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 213,749 shares of company stock valued at $22,301,899. Insiders own 8.00% of the company's stock.

About Cheesecake Factory

The Cheesecake Factory Incorporated NASDAQ: CAKE operates full-service casual dining restaurants in the United States. Its flagship Cheesecake Factory restaurants offer an extensive menu of made-to-order dishes spanning American and international cuisines, along with a broad selection of cheesecakes and other desserts.

The company also operates North Italia, an Italian restaurant concept, and restaurants developed through Fox Restaurant Concepts. In addition, its bakery division produces cheesecakes and other baked goods for the company's restaurants, retailers, and other foodservice customers.

Founded in 1978 by David Overton, The Cheesecake Factory began as a bakery business before opening its first restaurant in Beverly Hills, California, in 1978.

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