Elevation Point Wealth Partners LLC Makes New $1.04 Million Investment in The Cheesecake Factory Incorporated $CAKE

Elevation Point Wealth Partners LLC acquired a new position in shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 13,103 shares of the restaurant operator's stock, valued at approximately $1,042,000.

Several other large investors also recently made changes to their positions in CAKE. Allworth Financial LP bought a new position in shares of Cheesecake Factory in the second quarter valued at $36,000. NFSG Corp raised its position in Cheesecake Factory by 115.8% during the first quarter. NFSG Corp now owns 682 shares of the restaurant operator's stock worth $37,000 after acquiring an additional 366 shares in the last quarter. Global Retirement Partners LLC bought a new stake in Cheesecake Factory during the second quarter worth $57,000. Root Financial Partners LLC lifted its stake in Cheesecake Factory by 973.2% in the fourth quarter. Root Financial Partners LLC now owns 880 shares of the restaurant operator's stock valued at $44,000 after acquiring an additional 798 shares during the last quarter. Finally, Arax Advisory Partners acquired a new stake in Cheesecake Factory in the fourth quarter valued at $50,000. Institutional investors and hedge funds own 94.48% of the company's stock.

Cheesecake Factory Trading Up 1.1%

CAKE stock opened at $114.61 on Tuesday. The Cheesecake Factory Incorporated has a one year low of $43.07 and a one year high of $118.46. The stock has a market cap of $5.70 billion, a price-to-earnings ratio of 31.06, a price-to-earnings-growth ratio of 2.03 and a beta of 1.00. The company has a fifty day moving average price of $91.13 and a two-hundred day moving average price of $71.91. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.59 and a quick ratio of 0.52.

Cheesecake Factory (NASDAQ:CAKE - Get Free Report) last issued its quarterly earnings data 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. The company had revenue of $1.03 billion for the quarter, compared to analyst estimates of $999.54 million. Cheesecake Factory had a net margin of 4.61% and a return on equity of 43.97%. The company's revenue was up 7.7% on a year-over-year basis. During the same period in the prior year, the firm earned $1.16 earnings per share. Equities analysts anticipate that The Cheesecake Factory Incorporated will post 4.47 EPS for the current year.

Cheesecake Factory Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 25th. Shareholders of record on Tuesday, August 11th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Tuesday, August 11th. Cheesecake Factory's dividend payout ratio is currently 32.52%.

Insider Transactions at Cheesecake Factory

In other news, insider Ashley W. Hanscom sold 3,500 shares of the company's stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $100.00, for a total value of $350,000.00. Following the transaction, the insider owned 7,541 shares of the company's stock, valued at approximately $754,100. This represents a 31.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Scarlett May sold 7,978 shares of the stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $102.66, for a total value of $819,021.48. Following the transaction, the executive vice president owned 18,241 shares in the company, valued at approximately $1,872,621.06. This trade represents a 30.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 216,239 shares of company stock worth $22,463,500. 8.00% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

CAKE has been the topic of several recent analyst reports. Robert W. Baird boosted their price objective on shares of Cheesecake Factory from $65.00 to $90.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 29th. Stephens reiterated a "positive" rating on shares of Cheesecake Factory in a research note on Wednesday, July 29th. JPMorgan Chase & Co. upgraded Cheesecake Factory from an "underweight" rating to a "neutral" rating and lifted their price target for the stock from $58.00 to $68.00 in a report on Thursday, May 14th. Jefferies Financial Group downgraded Cheesecake Factory from a "buy" rating to a "hold" rating and boosted their price target for the stock from $75.00 to $88.00 in a research report on Wednesday, July 29th. Finally, Zacks Research upgraded Cheesecake Factory from a "hold" rating to a "strong-buy" rating in a research note on Thursday, July 30th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $81.00.

Cheesecake Factory 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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