Landscape Capital Management L.L.C. Purchases Shares of 21,176 The Cheesecake Factory Incorporated $CAKE

Key Points

• Landscape Capital Management acquired 21,176 Cheesecake Factory shares worth approximately $1.68 million in the second quarter; institutional investors now own 94.48% of the company.
• Insiders have been selling shares, including the president’s sale of 31,950 shares and an EVP’s sale of 7,978 shares. Analysts maintain a consensus “Hold” rating with an average price target of $81.
• Cheesecake Factory exceeded quarterly expectations with $1.44 in EPS and $1.03 billion in revenue, while revenue rose 7.7% year over year. The company also declared a quarterly dividend of $0.30 per share, implying a 1.1% annualized yield.

Landscape Capital Management L.L.C. acquired a new position in shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 21,176 shares of the restaurant operator's stock, valued at approximately $1,684,000.

Several other large investors have also recently added to or reduced their stakes in the company. Allworth Financial LP bought a new position in shares of Cheesecake Factory in the second quarter valued at approximately $36,000. Global Retirement Partners LLC grew its position in Cheesecake Factory by 661.7% during the 4th quarter. Global Retirement Partners LLC now owns 716 shares of the restaurant operator's stock worth $36,000 after acquiring an additional 622 shares during the last quarter. NFSG Corp grew its position in 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 during the last quarter. Root Financial Partners LLC increased its holdings in 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 purchasing an additional 798 shares in the last quarter. Finally, Arax Advisory Partners acquired a new stake in Cheesecake Factory during the 4th quarter valued at $50,000. 94.48% of the stock is owned by institutional investors.

Insider Transactions at Cheesecake Factory

In other news, President David M. Gordon sold 31,950 shares of the firm's stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $110.03, for a total value of $3,515,458.50. Following the transaction, the president owned 26,875 shares of the company's stock, valued at approximately $2,957,056.25. This trade represents a 54.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Scarlett May sold 7,978 shares of Cheesecake Factory stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $102.66, for a total transaction of $819,021.48. Following the sale, the executive vice president owned 18,241 shares of the company's stock, valued at approximately $1,872,621.06. This represents a 30.43% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 216,239 shares of company stock valued at $22,463,500. 8.00% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have commented on CAKE. Oppenheimer boosted their price objective on Cheesecake Factory from $91.00 to $101.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 29th. Northcoast Research cut Cheesecake Factory from a "buy" rating to a "neutral" rating in a report on Monday, June 15th. 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. UBS Group upped their price target on shares of Cheesecake Factory from $53.00 to $60.00 and gave the stock a "sell" rating in a research report on Thursday, July 23rd. Finally, Citigroup increased their price objective on shares of Cheesecake Factory from $76.00 to $90.00 and gave the stock a "buy" rating in a report on Friday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $81.00.

Cheesecake Factory Stock Up 6.4%

NASDAQ:CAKE opened at $113.33 on Friday. The company has a market cap of $5.64 billion, a price-to-earnings ratio of 30.71, a P/E/G ratio of 2.03 and a beta of 1.00. 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 stock's fifty day moving average price is $90.32 and its two-hundred day moving average price is $71.44. The Cheesecake Factory Incorporated has a 52-week low of $43.07 and a 52-week high of $118.46.

Cheesecake Factory (NASDAQ:CAKE - Get Free Report) last released 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. The company had revenue of $1.03 billion during the quarter, compared to analysts' expectations of $999.54 million. Cheesecake Factory had a return on equity of 43.97% and a net margin of 4.61%.The business's revenue for the quarter was up 7.7% on a year-over-year basis. During the same period last year, the firm earned $1.16 EPS. On average, analysts anticipate that The Cheesecake Factory Incorporated will post 4.47 EPS for the current year.

Cheesecake Factory Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 25th. Investors of record on Tuesday, August 11th will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Tuesday, August 11th. Cheesecake Factory's dividend payout ratio (DPR) 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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