Edgestream Partners L.P. Sells 15,766 Shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE)

Edgestream Partners L.P. decreased its holdings in shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE - Free Report) by 21.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 56,080 shares of the restaurant operator's stock after selling 15,766 shares during the period. Edgestream Partners L.P. owned approximately 0.11% of Cheesecake Factory worth $2,729,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the business. USA Financial Formulas purchased a new stake in Cheesecake Factory during the first quarter valued at about $49,000. Golden State Wealth Management LLC lifted its stake in Cheesecake Factory by 100.0% during the first quarter. Golden State Wealth Management LLC now owns 1,060 shares of the restaurant operator's stock valued at $52,000 after buying an additional 530 shares in the last quarter. FORA Capital LLC purchased a new stake in Cheesecake Factory during the fourth quarter valued at about $203,000. Mariner LLC purchased a new stake in Cheesecake Factory during the fourth quarter valued at about $213,000. Finally, Cibc World Markets Corp purchased a new stake in Cheesecake Factory during the fourth quarter valued at about $214,000. Institutional investors own 94.48% of the company's stock.

Analysts Set New Price Targets

CAKE has been the subject of a number of analyst reports. JPMorgan Chase & Co. upped their price objective on shares of Cheesecake Factory from $50.00 to $58.00 and gave the company an "underweight" rating in a research note on Wednesday, June 25th. Stephens reaffirmed an "overweight" rating and set a $60.00 price objective on shares of Cheesecake Factory in a research note on Thursday, May 1st. The Goldman Sachs Group reissued a "neutral" rating and issued a $67.00 price target (up from $66.00) on shares of Cheesecake Factory in a research report on Thursday, July 10th. Barclays increased their price target on shares of Cheesecake Factory from $45.00 to $57.00 and gave the stock an "underweight" rating in a research report on Thursday. Finally, Argus set a $60.00 price target on shares of Cheesecake Factory in a research report on Wednesday, May 14th. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Cheesecake Factory has an average rating of "Hold" and a consensus price target of $59.38.

Insider Buying and Selling

In related news, EVP Scarlett May sold 20,800 shares of the firm's stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $56.02, for a total value of $1,165,216.00. Following the completion of the transaction, the executive vice president directly owned 22,872 shares of the company's stock, valued at $1,281,289.44. This trade represents a 47.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Keith Carango sold 50,500 shares of the firm's stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $55.12, for a total value of $2,783,560.00. Following the completion of the transaction, the insider directly owned 20,774 shares of the company's stock, valued at approximately $1,145,062.88. This trade represents a 70.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 133,000 shares of company stock valued at $7,456,992 over the last ninety days. 8.40% of the stock is owned by company insiders.

Cheesecake Factory Stock Performance

CAKE stock traded up $0.77 during midday trading on Friday, hitting $62.68. 1,408,177 shares of the company traded hands, compared to its average volume of 1,256,996. The Cheesecake Factory Incorporated has a twelve month low of $33.50 and a twelve month high of $65.99. The company has a quick ratio of 0.43, a current ratio of 0.53 and a debt-to-equity ratio of 1.85. The business has a 50 day simple moving average of $58.53 and a 200-day simple moving average of $53.08. The stock has a market capitalization of $3.10 billion, a price-to-earnings ratio of 19.65, a price-to-earnings-growth ratio of 1.58 and a beta of 1.16.

Cheesecake Factory (NASDAQ:CAKE - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The restaurant operator reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.12. The business had revenue of $927.20 million for the quarter, compared to the consensus estimate of $927.17 million. Cheesecake Factory had a net margin of 4.33% and a return on equity of 46.06%. Cheesecake Factory's quarterly revenue was up 4.0% on a year-over-year basis. During the same quarter last year, the company posted $0.73 earnings per share. As a group, equities research analysts predict that The Cheesecake Factory Incorporated will post 3.71 earnings per share for the current year.

Cheesecake Factory Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 27th. Investors of record on Wednesday, May 14th were given a $0.27 dividend. The ex-dividend date of this dividend was Wednesday, May 14th. This represents a $1.08 annualized dividend and a yield of 1.72%. Cheesecake Factory's dividend payout ratio (DPR) is currently 33.86%.

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.