42,206 Shares in The Cheesecake Factory Incorporated $CAKE Purchased by Oliver Luxxe Assets LLC

Key Points

• Oliver Luxxe Assets LLC has acquired a new position in The Cheesecake Factory, purchasing 42,206 shares for approximately $2.05 million in the first quarter.
• Insider trading activity showed that Director Alexander L. Cappello sold 12,388 shares, resulting in a 64.54% decrease in ownership, while CFO Matthew Eliot Clark sold 42,900 shares, reducing his stake by 51.21%.
• Several analysts raised their target prices for Cheesecake Factory stock, with Piper Sandler increasing its target from $54.00 to $62.00 while maintaining a "neutral" rating.

Oliver Luxxe Assets LLC bought a new stake in shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE - Free Report) in the first quarter, according to its most recent Form 13F filing with the SEC. The fund bought 42,206 shares of the restaurant operator's stock, valued at approximately $2,054,000. Oliver Luxxe Assets LLC owned 0.09% of Cheesecake Factory as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. USA Financial Formulas purchased a new stake in shares of Cheesecake Factory in the first quarter valued at $49,000. Golden State Wealth Management LLC increased its holdings in Cheesecake Factory by 100.0% in the 1st 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 holdings in shares of Cheesecake Factory by 38.5% during the first quarter. SBI Securities Co. Ltd. now owns 1,244 shares of the restaurant operator's stock valued at $61,000 after acquiring an additional 346 shares during the period. Bayforest Capital Ltd acquired a new stake in Cheesecake Factory during the 1st quarter valued at $72,000. Finally, Smartleaf Asset Management LLC increased its holdings in shares of 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 purchasing an additional 640 shares in the last quarter. Institutional investors and hedge funds own 94.48% of the company's stock.

Insider Activity at Cheesecake Factory

In other news, President David M. Gordon sold 43,335 shares of Cheesecake Factory stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $63.06, for a total value of $2,732,705.10. Following the sale, the president owned 24,532 shares in the company, valued at $1,546,987.92. This trade represents a 63.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Alexander L. Cappello sold 12,388 shares of the stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $65.88, for a total value of $816,121.44. Following the transaction, the director directly owned 6,806 shares of the company's stock, valued at $448,379.28. The trade was a 64.54% decrease in their position. The disclosure for this sale can be found here. Insiders sold 74,523 shares of company stock worth $4,654,643 over the last three months. Company insiders own 8.40% of the company's stock.

Analyst Upgrades and Downgrades

CAKE has been the subject of several analyst reports. Bank of America boosted their target price on Cheesecake Factory from $61.00 to $67.00 and gave the stock a "neutral" rating in a research report on Friday, July 18th. Oppenheimer boosted their price target on Cheesecake Factory from $65.00 to $75.00 and gave the stock an "outperform" rating in a report on Friday, July 11th. Piper Sandler upped their target price on shares of Cheesecake Factory from $54.00 to $62.00 and gave the stock a "neutral" rating in a report on Monday, August 4th. Morgan Stanley boosted their price objective on Cheesecake Factory from $45.00 to $47.00 and gave the company an "underweight" rating in a research note on Thursday, July 31st. Finally, Raymond James Financial increased their price target on shares of Cheesecake Factory from $70.00 to $73.00 and gave the company an "outperform" rating in a research report on Friday, August 15th. Seven investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat, Cheesecake Factory has an average rating of "Hold" and a consensus target price of $61.94.

Cheesecake Factory Stock Up 0.2%

Shares of CAKE stock traded up $0.13 during mid-day trading on Thursday, hitting $62.04. The stock had a trading volume of 979,038 shares, compared to its average volume of 1,452,502. The firm has a market capitalization of $3.09 billion, a P/E ratio of 19.09, a price-to-earnings-growth ratio of 1.48 and a beta of 1.17. The firm's 50-day moving average is $63.00 and its two-hundred day moving average is $55.47. The Cheesecake Factory Incorporated has a 12-month low of $35.40 and a 12-month high of $69.70. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.51 and a quick ratio of 0.42.

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

Cheesecake Factory Announces Dividend

The firm also recently announced 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. This represents a $1.08 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend was Tuesday, August 12th. Cheesecake Factory's dividend payout ratio (DPR) is 33.23%.

Cheesecake Factory Company 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.