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 trimmed its stake in shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE - Free Report) by 15.9% during the first quarter, according to its most recent 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 quarter. Quantbot Technologies LP owned about 0.07% of Cheesecake Factory worth $1,598,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. USA Financial Formulas bought a new stake in shares of Cheesecake Factory during the 1st quarter worth about $49,000. Golden State Wealth Management LLC raised its position in shares of Cheesecake Factory by 100.0% during the 1st quarter. Golden State Wealth Management LLC now owns 1,060 shares of the restaurant operator's stock worth $52,000 after buying an additional 530 shares in the last quarter. SBI Securities Co. Ltd. raised its position in shares of Cheesecake Factory by 38.5% during the 1st quarter. SBI Securities Co. Ltd. now owns 1,244 shares of the restaurant operator's stock worth $61,000 after buying an additional 346 shares in the last quarter. Bayforest Capital Ltd bought a new stake in shares of Cheesecake Factory during the 1st quarter worth about $72,000. Finally, FORA Capital LLC bought a new stake in shares of Cheesecake Factory during the 4th quarter worth about $203,000. 94.48% of the stock is currently owned by institutional investors.

Insider Activity at Cheesecake Factory

In related news, Director Alexander L. Cappello sold 12,388 shares of the business's stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $65.88, for a total transaction of $816,121.44. Following the transaction, the director directly owned 6,806 shares of the company's stock, valued at approximately $448,379.28. The trade was a 64.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, President David M. Gordon sold 43,335 shares of the business's stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $63.06, for a total transaction of $2,732,705.10. Following the transaction, the president directly owned 24,532 shares in the company, valued at $1,546,987.92. The trade was a 63.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 74,523 shares of company stock valued at $4,654,643. Corporate insiders own 8.40% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on CAKE shares. Morgan Stanley boosted their price target on shares of Cheesecake Factory from $45.00 to $47.00 and gave the stock an "underweight" rating in a research report on Thursday, July 31st. UBS Group boosted their target price on shares of Cheesecake Factory from $45.00 to $50.00 and gave the stock a "sell" rating in a report on Friday, July 18th. Robert W. Baird set a $64.00 target price on shares of Cheesecake Factory and gave the stock a "neutral" rating in a report on Wednesday, July 30th. Barclays boosted their target price on shares of Cheesecake Factory from $57.00 to $62.00 and gave the stock an "underweight" rating in a report on Wednesday, July 30th. Finally, Bank of America boosted their target price on shares of Cheesecake Factory from $61.00 to $67.00 and gave the stock a "neutral" rating in a report on Friday, July 18th. Seven analysts have rated the stock with a Buy rating, five have given a Hold rating and four have given a Sell rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $61.94.

Cheesecake Factory Trading Down 0.2%

Shares of CAKE stock traded down $0.10 during trading hours on Thursday, reaching $61.81. 233,938 shares of the stock traded hands, compared to its average volume of 1,447,513. The Cheesecake Factory Incorporated has a 1-year low of $35.40 and a 1-year high of $69.70. The business has a fifty day moving average price of $63.00 and a 200 day moving average price of $55.47. 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 firm has a market capitalization of $3.08 billion, a PE ratio of 18.99, a PEG ratio of 1.48 and a beta of 1.17.

Cheesecake Factory (NASDAQ:CAKE - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The restaurant operator reported $1.16 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.06 by $0.10. Cheesecake Factory had a net margin of 4.33% and a return on equity of 45.92%. The business had revenue of $955.83 million for the quarter, compared to analyst estimates of $945.82 million. During the same quarter in the previous year, the business earned $1.09 earnings per share. The firm's revenue was up 5.7% compared to the same quarter last year. On average, equities research analysts forecast that The Cheesecake Factory Incorporated will post 3.71 EPS for the current 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 given 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 1.7%. Cheesecake Factory's payout ratio is presently 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.