Quantbot Technologies LP Sells 6,218 Shares of The Cheesecake Factory Incorporated $CAKE

Key Points

• Quantbot Technologies LP reduced its stake in The Cheesecake Factory by 15.9%, selling 6,218 shares and holding 32,835 shares valued at approximately $1.6 million.
• The Cheesecake Factory reported earnings of $1.16 per share for the last quarter, exceeding expectations and marking a revenue increase of 5.7% year-over-year.
• The company announced a quarterly dividend of $0.27 per share, yielding around 1.7%, with the ex-dividend date set for August 12th.

Quantbot Technologies LP reduced its position in shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE - Free Report) by 15.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,835 shares of the restaurant operator's stock after selling 6,218 shares during the period. Quantbot Technologies LP owned about 0.07% of Cheesecake Factory worth $1,598,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Principal Financial Group Inc. grew its position in shares of Cheesecake Factory by 2.2% during the first quarter. Principal Financial Group Inc. now owns 274,877 shares of the restaurant operator's stock worth $13,376,000 after buying an additional 6,047 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new stake in Cheesecake Factory in the first quarter valued at $5,559,000. Foundry Partners LLC bought a new stake in Cheesecake Factory in the first quarter valued at $299,000. Informed Momentum Co LLC bought a new stake in Cheesecake Factory in the first quarter valued at $3,023,000. Finally, Headlands Technologies LLC raised its stake in shares of Cheesecake Factory by 50.6% during the first quarter. Headlands Technologies LLC now owns 33,703 shares of the restaurant operator's stock valued at $1,640,000 after purchasing an additional 11,318 shares in the last quarter. 94.48% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CAKE has been the topic of several research reports. Piper Sandler boosted their price target on shares of Cheesecake Factory from $54.00 to $62.00 and gave the stock a "neutral" rating in a research report on Monday, August 4th. Barclays boosted their price target on shares of Cheesecake Factory from $57.00 to $62.00 and gave the stock an "underweight" rating in a research report on Wednesday, July 30th. Stephens reiterated an "overweight" rating and issued a $60.00 price target on shares of Cheesecake Factory in a research report on Thursday, May 1st. JPMorgan Chase & Co. boosted their price target on shares of Cheesecake Factory from $50.00 to $58.00 and gave the stock an "underweight" rating in a research report on Wednesday, June 25th. Finally, Wells Fargo & Company lifted their price target on Cheesecake Factory from $60.00 to $65.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 30th. Seven equities 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 company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $61.94.

Insider Activity at Cheesecake Factory

In other news, EVP Scarlett May sold 20,800 shares of the company's stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $56.02, for a total transaction of $1,165,216.00. Following the completion of the transaction, the executive vice president directly owned 22,872 shares in the company, valued at $1,281,289.44. The trade was a 47.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Keith Carango sold 50,500 shares of the company's stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $55.12, for a total value of $2,783,560.00. Following the completion of the sale, the insider owned 20,774 shares in the company, valued at $1,145,062.88. This trade represents a 70.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 188,723 shares of company stock valued at $11,005,819. 8.10% of the stock is owned by corporate insiders.

Cheesecake Factory Stock Performance

Cheesecake Factory stock traded down $1.09 during trading hours on Monday, reaching $61.62. 1,173,264 shares of the company were exchanged, compared to its average volume of 1,626,318. The firm has a market cap of $3.07 billion, a price-to-earnings ratio of 18.96, a PEG ratio of 1.49 and a beta of 1.17. The company has a current ratio of 0.51, a quick ratio of 0.42 and a debt-to-equity ratio of 1.40. The stock has a 50-day moving average of $62.88 and a 200 day moving average of $55.38. The Cheesecake Factory Incorporated has a 12 month low of $35.40 and a 12 month high of $69.70.

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

Cheesecake Factory Dividend Announcement

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

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.