Jupiter Topco LLC Buys New Shares in The Cheesecake Factory Incorporated $CAKE

Jupiter Topco LLC bought a new position in shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 20,562 shares of the restaurant operator's stock, valued at approximately $1,636,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Allworth Financial LP bought a new position in Cheesecake Factory during the second quarter valued at approximately $36,000. NFSG Corp raised its holdings in shares of Cheesecake Factory by 115.8% during the 1st 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 position in shares of Cheesecake Factory during the 2nd quarter valued at approximately $57,000. Root Financial Partners LLC boosted its position in shares of Cheesecake Factory by 973.2% during the 4th 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 purchased a new position in shares of Cheesecake Factory in the fourth quarter valued at $50,000. Institutional investors own 94.48% of the company's stock.

Insider Buying and Selling at Cheesecake Factory

In other Cheesecake Factory news, Director Janice L. Meyer sold 1,958 shares of the company's stock in a transaction on Monday, August 17th. The shares were sold at an average price of $109.36, for a total value of $214,126.88. Following the sale, the director directly owned 21,251 shares of the company's stock, valued at approximately $2,324,009.36. This represents a 8.44% 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, Director Edie A. Ames sold 3,000 shares of the stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $106.95, for a total value of $320,850.00. Following the sale, the director directly owned 10,000 shares in the company, valued at $1,069,500. This represents a 23.08% 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 sold 213,749 shares of company stock worth $22,301,899. Corporate insiders own 8.00% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on CAKE. Wells Fargo & Company raised their price objective on Cheesecake Factory from $65.00 to $75.00 and gave the company an "equal weight" rating in a research note on Thursday, July 16th. Oppenheimer increased their price target on Cheesecake Factory from $91.00 to $101.00 and gave the company an "outperform" rating in a report on Wednesday, July 29th. Mizuho lifted their price objective on shares of Cheesecake Factory from $85.00 to $93.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 29th. Weiss Ratings upgraded shares of Cheesecake Factory from a "buy (b-)" rating to a "buy (b)" rating in a research report on Thursday, August 13th. Finally, Bank of America increased their target price on shares of Cheesecake Factory from $66.00 to $79.00 and gave the company a "neutral" rating in a research note on Thursday, July 2nd. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, ten have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $83.47.

Cheesecake Factory Price Performance

Shares of CAKE stock opened at $107.58 on Friday. The Cheesecake Factory Incorporated has a fifty-two week low of $43.07 and a fifty-two week high of $118.46. 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 firm has a market capitalization of $5.35 billion, a price-to-earnings ratio of 29.15, a PEG ratio of 1.81 and a beta of 1.01. The stock's 50-day simple moving average is $97.08 and its 200-day simple moving average is $74.91.

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

Cheesecake Factory Announces Dividend

The firm 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 annualized dividend and a yield of 1.1%. The ex-dividend date was Tuesday, August 11th. Cheesecake Factory's payout ratio is presently 32.52%.

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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