Picton Mahoney Asset Management Raises Stake in The Cheesecake Factory Incorporated (NASDAQ:CAKE)

Picton Mahoney Asset Management increased its position in The Cheesecake Factory Incorporated (NASDAQ:CAKE - Free Report) by 70,748.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 21,963 shares of the restaurant operator's stock after buying an additional 21,932 shares during the quarter. Picton Mahoney Asset Management's holdings in Cheesecake Factory were worth $1,069,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Lido Advisors LLC increased its stake in shares of Cheesecake Factory by 2.0% in the fourth quarter. Lido Advisors LLC now owns 10,805 shares of the restaurant operator's stock valued at $513,000 after buying an additional 215 shares during the period. Summit Investment Advisors Inc. increased its stake in shares of Cheesecake Factory by 4.7% in the fourth quarter. Summit Investment Advisors Inc. now owns 5,051 shares of the restaurant operator's stock valued at $240,000 after buying an additional 228 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Cheesecake Factory by 2.0% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,121 shares of the restaurant operator's stock valued at $638,000 after buying an additional 260 shares during the period. Blair William & Co. IL increased its stake in shares of Cheesecake Factory by 5.2% in the fourth quarter. Blair William & Co. IL now owns 5,772 shares of the restaurant operator's stock valued at $274,000 after buying an additional 283 shares during the period. Finally, Bridges Investment Management Inc. increased its stake in shares of Cheesecake Factory by 4.0% in the first quarter. Bridges Investment Management Inc. now owns 7,677 shares of the restaurant operator's stock valued at $374,000 after buying an additional 292 shares during the period. Institutional investors and hedge funds own 94.48% of the company's stock.

Insider Buying and Selling

In other Cheesecake Factory news, CFO Matthew Eliot Clark sold 42,900 shares of the firm's stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $56.00, for a total transaction of $2,402,400.00. Following the transaction, the chief financial officer directly owned 40,878 shares in the company, valued at approximately $2,289,168. This trade represents a 51.21% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Alexander L. Cappello sold 12,388 shares of the firm's stock in a transaction 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 owned 6,806 shares in the company, valued at approximately $448,379.28. This trade represents a 64.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 145,388 shares of company stock valued at $8,273,113 in the last 90 days. Insiders own 8.40% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on CAKE shares. Stephens reissued an "overweight" rating and set a $60.00 target price on shares of Cheesecake Factory in a research report on Thursday, May 1st. Barclays increased their target price on shares of Cheesecake Factory from $57.00 to $62.00 and gave the company an "underweight" rating in a research report on Wednesday. JPMorgan Chase & Co. increased their target price on shares of Cheesecake Factory from $50.00 to $58.00 and gave the company an "underweight" rating in a research report on Wednesday, June 25th. Robert W. Baird set a $64.00 target price on shares of Cheesecake Factory and gave the company a "neutral" rating in a research report on Wednesday. Finally, Wells Fargo & Company increased their target price on shares of Cheesecake Factory from $60.00 to $65.00 and gave the company an "equal weight" rating in a research report on Wednesday. Four research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Cheesecake Factory presently has a consensus rating of "Hold" and an average price target of $61.06.

Cheesecake Factory Trading Down 2.4%

Shares of Cheesecake Factory stock traded down $1.53 on Friday, reaching $62.38. 1,941,239 shares of the company's stock were exchanged, compared to its average volume of 1,545,028. The Cheesecake Factory Incorporated has a 52 week low of $33.50 and a 52 week high of $69.70. The firm's 50-day moving average is $61.06 and its two-hundred day moving average is $54.28. The company has a debt-to-equity ratio of 1.85, a quick ratio of 0.43 and a current ratio of 0.53. The company has a market capitalization of $3.09 billion, a P/E ratio of 19.19, a price-to-earnings-growth ratio of 1.61 and a beta of 1.17.

Cheesecake Factory (NASDAQ:CAKE - Get Free Report) last issued its earnings results on Tuesday, July 29th. The restaurant operator reported $1.16 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.06 by $0.10. Cheesecake Factory had a return on equity of 46.15% and a net margin of 4.33%. The company had revenue of $955.83 million for the quarter, compared to analysts' expectations of $945.82 million. During the same period last year, the business earned $1.09 EPS. Cheesecake Factory's quarterly revenue was up 5.7% compared to the same quarter last year. Sell-side analysts predict that The Cheesecake Factory Incorporated will post 3.71 EPS for the current fiscal year.

Cheesecake Factory Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 26th. Shareholders of record on Tuesday, August 12th will be paid a dividend of $0.27 per share. The ex-dividend date is Tuesday, August 12th. This represents a $1.08 annualized dividend and a yield of 1.7%. Cheesecake Factory's dividend payout ratio (DPR) is 33.23%.

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.