Rockefeller Capital Management L.P. Has $4.61 Million Stock Position in The Cheesecake Factory Incorporated $CAKE

Key Points

• Rockefeller Capital Management increased its Cheesecake Factory stake by 34.5% in the fourth quarter, ending with 91,357 shares valued at about $4.61 million.
• Institutional ownership remains very high, with hedge funds and other investors holding about 94.48% of the stock, though some insiders have recently sold shares.
• Cheesecake Factory posted better-than-expected quarterly results, earning $1.05 per share on revenue of $978.83 million, and the company also announced a $0.30 quarterly dividend per share.

Rockefeller Capital Management L.P. raised its stake in The Cheesecake Factory Incorporated (NASDAQ:CAKE - Free Report) by 34.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 91,357 shares of the restaurant operator's stock after acquiring an additional 23,448 shares during the quarter. Rockefeller Capital Management L.P. owned about 0.18% of Cheesecake Factory worth $4,612,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC grew its holdings in Cheesecake Factory by 183.6% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 133,921 shares of the restaurant operator's stock valued at $7,072,000 after buying an additional 86,705 shares in the last quarter. Fisher Asset Management LLC lifted its holdings in shares of Cheesecake Factory by 7.2% during the fourth quarter. Fisher Asset Management LLC now owns 503,184 shares of the restaurant operator's stock worth $25,401,000 after buying an additional 33,959 shares in the last quarter. 44 Wealth Management LLC acquired a new stake in shares of Cheesecake Factory during the third quarter worth $1,366,000. American Century Companies Inc. boosted its holdings in Cheesecake Factory by 5.6% in the 3rd quarter. American Century Companies Inc. now owns 1,800,388 shares of the restaurant operator's stock valued at $98,373,000 after purchasing an additional 96,074 shares during the period. Finally, Picton Mahoney Asset Management boosted its holdings in Cheesecake Factory by 60,948.4% in the 3rd quarter. Picton Mahoney Asset Management now owns 18,925 shares of the restaurant operator's stock valued at $1,035,000 after purchasing an additional 18,894 shares during the period. 94.48% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on CAKE shares. Weiss Ratings cut shares of Cheesecake Factory from a "buy (b)" rating to a "buy (b-)" rating in a report on Tuesday. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and issued a $68.00 price objective on shares of Cheesecake Factory in a report on Thursday, April 30th. Citigroup lowered Cheesecake Factory from a "buy" rating to a "neutral" rating in a report on Monday, June 15th. Oppenheimer increased their target price on Cheesecake Factory from $68.00 to $72.00 and gave the stock an "outperform" rating in a report on Tuesday, April 21st. Finally, Northcoast Research downgraded Cheesecake Factory from a "buy" rating to a "neutral" rating in a research note on Monday, June 15th. Five investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $64.94.

Insiders Place Their Bets

In other news, Director Alexander L. Cappello sold 2,490 shares of the company's stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $64.90, for a total transaction of $161,601.00. Following the completion of the transaction, the director directly owned 6,171 shares in the company, valued at approximately $400,497.90. This represents a 28.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman David Overton sold 104,000 shares of the stock in a transaction on Friday, May 1st. The shares were sold at an average price of $61.02, for a total value of $6,346,080.00. Following the completion of the transaction, the chairman owned 3,079,779 shares of the company's stock, valued at $187,928,114.58. The trade was a 3.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 8.00% of the company's stock.

Cheesecake Factory Stock Up 1.7%

Shares of NASDAQ CAKE opened at $80.38 on Friday. The company has a market cap of $3.99 billion, a price-to-earnings ratio of 23.50, a PEG ratio of 1.93 and a beta of 1.04. The company has a current ratio of 0.59, a quick ratio of 0.53 and a debt-to-equity ratio of 1.22. The Cheesecake Factory Incorporated has a 12 month low of $43.07 and a 12 month high of $80.89. The stock has a 50-day moving average price of $65.92 and a two-hundred day moving average price of $60.43.

Cheesecake Factory (NASDAQ:CAKE - Get Free Report) last posted its quarterly earnings results on Wednesday, April 29th. The restaurant operator reported $1.05 earnings per share for the quarter, beating analysts' consensus estimates of $1.03 by $0.02. The company had revenue of $978.83 million for the quarter, compared to the consensus estimate of $964.57 million. Cheesecake Factory had a net margin of 4.34% and a return on equity of 43.74%. The firm's quarterly revenue was up 5.6% compared to the same quarter last year. During the same period last year, the company posted $0.93 EPS. As a group, analysts forecast that The Cheesecake Factory Incorporated will post 4.01 earnings per share for the current fiscal year.

Cheesecake Factory Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 26th. Shareholders of record on Wednesday, May 13th were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend was Wednesday, May 13th. Cheesecake Factory's payout ratio is presently 35.09%.

Cheesecake Factory Company Profile

The Cheesecake Factory Incorporated NASDAQ: CAKE is an American restaurant company and distributor renowned for its full-service casual-dining concept and specialty cheesecakes. Headquartered in Calabasas Hills, California, the company operates more than 200 restaurants under The Cheesecake Factory® brand across the United States, Puerto Rico and select international markets. In addition to sit-down dining, Cheesecake Factory franchised locations offer catering and take-out services, while a separate manufacturing arm supplies branded cheesecakes and desserts to supermarkets, hotels and other foodservice operators.

The origins of the brand trace back to a small cheesecake bakery founded in Detroit in the 1940s.

Want to see what other hedge funds are holding CAKE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Cheesecake Factory Incorporated (NASDAQ:CAKE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.