Oliver Luxxe Assets LLC Buys Shares of 42,206 The Cheesecake Factory Incorporated $CAKE

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 acquired 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 Securities & Exchange Commission. The firm acquired 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 filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Mariner LLC acquired a new stake in Cheesecake Factory in the fourth quarter worth about $213,000. First Trust Advisors LP lifted its holdings in shares of Cheesecake Factory by 323.8% during the 4th quarter. First Trust Advisors LP now owns 90,982 shares of the restaurant operator's stock valued at $4,316,000 after purchasing an additional 69,515 shares in the last quarter. MetLife Investment Management LLC lifted its stake in Cheesecake Factory by 7.4% in the 4th quarter. MetLife Investment Management LLC now owns 29,436 shares of the restaurant operator's stock valued at $1,396,000 after acquiring an additional 2,030 shares in the last quarter. Tower Research Capital LLC TRC lifted its stake in Cheesecake Factory by 36.9% in the 4th quarter. Tower Research Capital LLC TRC now owns 6,041 shares of the restaurant operator's stock valued at $287,000 after acquiring an additional 1,628 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its stake in Cheesecake Factory by 10.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 32,774 shares of the restaurant operator's stock valued at $1,555,000 after acquiring an additional 3,155 shares in the last quarter. 94.48% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Cheesecake Factory

In other news, EVP Scarlett May sold 18,800 shares of the business's stock in a transaction on Monday, June 9th. The stock was sold at an average price of $58.82, for a total value of $1,105,816.00. Following the completion of the transaction, the executive vice president owned 22,872 shares in the company, valued at $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 is available through this link. Also, President David M. Gordon sold 43,335 shares of the business's stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $63.06, for a total value of $2,732,705.10. Following the completion of the transaction, the president owned 24,532 shares of the company's stock, valued at $1,546,987.92. This represents a 63.85% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 74,523 shares of company stock valued at $4,654,643 in the last 90 days. Corporate insiders own 8.40% of the company's stock.

Cheesecake Factory Trading Down 0.0%

CAKE stock traded down $0.03 during trading on Friday, hitting $62.01. 278,409 shares of the company traded hands, compared to its average volume of 1,445,154. The firm has a market capitalization of $3.09 billion, a PE ratio of 19.10, a P/E/G ratio of 1.47 and a beta of 1.17. The Cheesecake Factory Incorporated has a 1 year low of $35.40 and a 1 year high of $69.70. The company has a 50-day moving average of $63.06 and a 200-day moving average of $55.53. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.42 and a current ratio of 0.51.

Cheesecake Factory (NASDAQ:CAKE - Get Free Report) last released its quarterly earnings data 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. Cheesecake Factory had a return on equity of 45.92% and a net margin of 4.33%.The business had revenue of $955.83 million during the quarter, compared to analysts' expectations of $945.82 million. During the same quarter last year, the business posted $1.09 EPS. The business's revenue was up 5.7% on a year-over-year basis. Analysts predict that The Cheesecake Factory Incorporated will post 3.71 earnings per share for the current fiscal year.

Cheesecake Factory Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 26th. Stockholders of record on Tuesday, August 12th were given a $0.27 dividend. The ex-dividend date of this dividend was Tuesday, August 12th. This represents a $1.08 annualized dividend and a dividend yield of 1.7%. Cheesecake Factory's dividend payout ratio is currently 33.23%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on CAKE shares. Raymond James Financial boosted their target price on Cheesecake Factory from $70.00 to $73.00 and gave the stock an "outperform" rating in a report on Friday, August 15th. Oppenheimer upped their price objective on Cheesecake Factory from $65.00 to $75.00 and gave the stock an "outperform" rating in a research report on Friday, July 11th. Morgan Stanley increased their target price on Cheesecake Factory from $45.00 to $47.00 and gave the company an "underweight" rating in a research report on Thursday, July 31st. Robert W. Baird set a $64.00 price target on Cheesecake Factory and gave the company a "neutral" rating in a research note on Wednesday, July 30th. Finally, Bank of America increased 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. Seven equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and four have given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $61.94.

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.