Maverick Capital Ltd. Increases Stake in The Cheesecake Factory Incorporated $CAKE

Key Points

• Maverick Capital Ltd. increased its stake in The Cheesecake Factory by 217.4%, now holding approximately 0.06% of the company worth $1,357,000 after acquiring an additional 19,105 shares.
• Recent analyst reports indicate a mixed outlook for Cheesecake Factory, with target prices ranging from $45 to $67 and ratings from "Buy" to "Sell," leading to a consensus rating of "Hold."
• The Cheesecake Factory recently announced a quarterly dividend of $0.27 per share, representing an annualized yield of 1.8% and a payout ratio of 33.23%.

Maverick Capital Ltd. lifted its position in shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE - Free Report) by 217.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 27,894 shares of the restaurant operator's stock after purchasing an additional 19,105 shares during the period. Maverick Capital Ltd. owned about 0.06% of Cheesecake Factory worth $1,357,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CAKE. USA Financial Formulas acquired a new position in shares of Cheesecake Factory in the first quarter worth approximately $49,000. Golden State Wealth Management LLC lifted its stake in Cheesecake Factory by 100.0% in 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 during the period. SBI Securities Co. Ltd. lifted its stake in Cheesecake Factory by 38.5% in the first quarter. SBI Securities Co. Ltd. now owns 1,244 shares of the restaurant operator's stock valued at $61,000 after buying an additional 346 shares during the period. Bayforest Capital Ltd acquired a new position in Cheesecake Factory in the first quarter valued at approximately $72,000. Finally, Smartleaf Asset Management LLC lifted its stake in Cheesecake Factory by 24.4% in the first quarter. Smartleaf Asset Management LLC now owns 3,268 shares of the restaurant operator's stock valued at $162,000 after buying an additional 640 shares during the period. 94.48% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Raymond James Financial boosted their price objective on Cheesecake Factory from $70.00 to $73.00 and gave the company an "outperform" rating in a report on Friday, August 15th. Piper Sandler upped their price target on Cheesecake Factory from $54.00 to $62.00 and gave the stock a "neutral" rating in a report on Monday, August 4th. Bank of America upped their price target on Cheesecake Factory from $61.00 to $67.00 and gave the stock a "neutral" rating in a report on Friday, July 18th. Wells Fargo & Company upped their price target on Cheesecake Factory from $60.00 to $65.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 30th. Finally, The Goldman Sachs Group reiterated a "neutral" rating and set a $67.00 price target (up previously from $66.00) on shares of Cheesecake Factory in a report on Thursday, July 10th. Seven research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat, Cheesecake Factory has an average rating of "Hold" and an average price target of $61.94.

Cheesecake Factory Stock Performance

CAKE traded down $0.45 during trading on Friday, hitting $60.63. 907,061 shares of the company traded hands, compared to its average volume of 1,047,348. The firm has a market cap of $3.02 billion, a P/E ratio of 18.66, a price-to-earnings-growth ratio of 1.45 and a beta of 1.10. The stock's fifty day moving average is $63.15 and its 200 day moving average is $55.87. The company has a quick ratio of 0.42, a current ratio of 0.51 and a debt-to-equity ratio of 1.40. The Cheesecake Factory Incorporated has a one year low of $35.40 and a one year high of $69.70.

Cheesecake Factory (NASDAQ:CAKE - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The restaurant operator reported $1.16 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.10. The company had revenue of $955.83 million during the quarter, compared to the consensus estimate of $945.82 million. Cheesecake Factory had a return on equity of 45.92% and a net margin of 4.33%.The firm's quarterly revenue was up 5.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.09 EPS. As a group, equities analysts predict that The Cheesecake Factory Incorporated will post 3.71 EPS for the current fiscal year.

Cheesecake Factory Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 26th. Investors of record on Tuesday, August 12th were issued a dividend of $0.27 per share. The ex-dividend date of this dividend was Tuesday, August 12th. This represents a $1.08 dividend on an annualized basis and a yield of 1.8%. Cheesecake Factory's dividend payout ratio is 33.23%.

Insider Buying and Selling

In other Cheesecake Factory news, Director Alexander L. Cappello sold 12,388 shares of the firm's stock in a transaction dated Thursday, July 31st. The stock was sold at an average price of $65.88, for a total value of $816,121.44. Following the sale, the director owned 6,806 shares of the company's stock, valued at $448,379.28. This trade represents a 64.54% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Scarlett May sold 18,800 shares of the firm's stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $58.82, for a total value of $1,105,816.00. Following the transaction, the executive vice president directly owned 22,872 shares in the company, valued at approximately $1,345,331.04. This represents a 45.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 74,523 shares of company stock valued at $4,654,643. Corporate insiders own 8.40% of the company's stock.

About Cheesecake Factory

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.