Hennessy Advisors Inc. Has $58.97 Million Stock Position in The Cheesecake Factory Incorporated (NASDAQ:CAKE)

Hennessy Advisors Inc. decreased its stake in The Cheesecake Factory Incorporated (NASDAQ:CAKE - Free Report) by 8.9% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,211,900 shares of the restaurant operator's stock after selling 118,500 shares during the quarter. Cheesecake Factory makes up about 2.0% of Hennessy Advisors Inc.'s holdings, making the stock its 3rd biggest position. Hennessy Advisors Inc. owned approximately 2.35% of Cheesecake Factory worth $58,971,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. First Eagle Investment Management LLC increased its holdings in Cheesecake Factory by 9.7% in the fourth quarter. First Eagle Investment Management LLC now owns 360,718 shares of the restaurant operator's stock worth $17,112,000 after buying an additional 32,000 shares during the last quarter. KLP Kapitalforvaltning AS bought a new stake in Cheesecake Factory in the fourth quarter worth approximately $489,000. Ruffer LLP acquired a new position in shares of Cheesecake Factory during the 4th quarter worth $9,401,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of Cheesecake Factory during the 4th quarter worth $972,000. Finally, Norges Bank bought a new position in shares of Cheesecake Factory during the 4th quarter valued at $6,513,000. Institutional investors and hedge funds own 94.48% of the company's stock.

Cheesecake Factory Stock Performance

Shares of CAKE traded down $1.77 during trading hours on Friday, reaching $57.02. 1,992,742 shares of the company traded hands, compared to its average volume of 1,215,360. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.33 and a current ratio of 0.44. The stock's fifty day moving average is $52.06 and its 200 day moving average is $50.97. The Cheesecake Factory Incorporated has a 1-year low of $33.50 and a 1-year high of $59.45. The stock has a market cap of $2.82 billion, a P/E ratio of 17.82, a price-to-earnings-growth ratio of 1.31 and a beta of 1.14.

Cheesecake Factory (NASDAQ:CAKE - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The restaurant operator reported $0.93 EPS for the quarter, beating the consensus estimate of $0.81 by $0.12. Cheesecake Factory had a return on equity of 45.89% and a net margin of 4.38%. The firm had revenue of $927.20 million during the quarter, compared to analysts' expectations of $927.17 million. During the same quarter in the prior year, the firm posted $0.73 EPS. The company's revenue for the quarter was up 4.0% on a year-over-year basis. Equities research analysts anticipate that The Cheesecake Factory Incorporated will post 3.71 earnings per share for the current fiscal year.

Cheesecake Factory Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 27th. Investors of record on Wednesday, May 14th were paid a $0.27 dividend. The ex-dividend date was Wednesday, May 14th. This represents a $1.08 dividend on an annualized basis and a yield of 1.89%. Cheesecake Factory's payout ratio is currently 33.86%.

Analysts Set New Price Targets

CAKE has been the subject of a number of recent research reports. Wedbush upped their price objective on shares of Cheesecake Factory from $59.00 to $61.00 and gave the stock an "outperform" rating in a report on Thursday, February 20th. Morgan Stanley boosted their price target on Cheesecake Factory from $39.00 to $40.00 and gave the stock an "underweight" rating in a research report on Thursday, May 1st. Robert W. Baird increased their price objective on Cheesecake Factory from $46.00 to $49.00 and gave the company a "neutral" rating in a report on Thursday, May 1st. Piper Sandler raised their price objective on Cheesecake Factory from $47.00 to $51.00 and gave the company a "neutral" rating in a research note on Thursday, February 20th. Finally, JPMorgan Chase & Co. reduced their target price on Cheesecake Factory from $55.00 to $48.00 and set an "underweight" rating for the company in a report on Thursday, March 20th. Four analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $54.00.

Insider Buying and Selling

In other Cheesecake Factory news, EVP Scarlett May sold 18,800 shares of Cheesecake Factory stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $58.82, for a total transaction of $1,105,816.00. Following the sale, the executive vice president now directly owns 22,872 shares of the company's stock, valued at approximately $1,345,331.04. The trade was a 45.11% 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, CFO Matthew Eliot Clark sold 42,900 shares of the firm's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $56.00, for a total value of $2,402,400.00. Following the transaction, the chief financial officer now owns 40,878 shares of the company's stock, 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 sold 133,000 shares of company stock valued at $7,456,992 over the last quarter. Corporate insiders own 8.40% of the company's stock.

Cheesecake Factory 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.