The Cheesecake Factory Incorporated $CAKE Shares Sold by Russell Investments Group Ltd.

Key Points

• Russell Investments Group Ltd. reduced its stake in The Cheesecake Factory by 36.2%, selling 13,913 shares during the first quarter, leaving them with 24,504 shares valued at approximately $1.19 million.
• The Cheesecake Factory reported an earnings per share of $1.16 for the last quarter, exceeding expectations, with quarterly revenue of $955.83 million, marking a year-over-year increase of 5.7%.
• The company declared a quarterly dividend of $0.27 per share, contributing to an annualized dividend yield of 1.7%.

Russell Investments Group Ltd. cut its position in The Cheesecake Factory Incorporated (NASDAQ:CAKE - Free Report) by 36.2% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 24,504 shares of the restaurant operator's stock after selling 13,913 shares during the quarter. Russell Investments Group Ltd.'s holdings in Cheesecake Factory were worth $1,192,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in CAKE. Westwood Holdings Group Inc. bought a new position in Cheesecake Factory in the first quarter worth about $75,795,000. Wellington Management Group LLP bought a new position in Cheesecake Factory in the fourth quarter worth about $56,288,000. Invesco Ltd. raised its holdings in Cheesecake Factory by 83.5% in the first quarter. Invesco Ltd. now owns 2,591,205 shares of the restaurant operator's stock worth $126,088,000 after purchasing an additional 1,178,722 shares in the last quarter. Victory Capital Management Inc. raised its holdings in Cheesecake Factory by 64.1% in the first quarter. Victory Capital Management Inc. now owns 1,766,131 shares of the restaurant operator's stock worth $85,940,000 after purchasing an additional 689,784 shares in the last quarter. Finally, Junto Capital Management LP bought a new position in Cheesecake Factory in the fourth quarter worth about $21,827,000. 94.48% of the stock is currently owned by institutional investors.

Insider Activity

In related news, EVP Scarlett May sold 18,800 shares of the 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 directly owned 22,872 shares of the company's stock, valued at approximately $1,345,331.04. This represents a 45.11% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President David M. Gordon sold 43,335 shares of the firm'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 sale, the president directly owned 24,532 shares of the company's stock, valued at $1,546,987.92. This trade represents a 63.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 74,523 shares of company stock worth $4,654,643 in the last quarter. Corporate insiders own 8.40% of the company's stock.

Wall Street Analysts Forecast Growth

CAKE has been the topic of several recent analyst reports. Piper Sandler upped their price objective on shares of Cheesecake Factory from $54.00 to $62.00 and gave the company a "neutral" rating in a report on Monday, August 4th. Wells Fargo & Company upped their price objective on shares of Cheesecake Factory from $60.00 to $65.00 and gave the company an "equal weight" rating in a report on Wednesday, July 30th. JPMorgan Chase & Co. upped their price objective on shares of Cheesecake Factory from $50.00 to $58.00 and gave the company an "underweight" rating in a report on Wednesday, June 25th. Robert W. Baird set a $64.00 price target on shares of Cheesecake Factory and gave the stock a "neutral" rating in a report on Wednesday, July 30th. Finally, Argus set a $60.00 price target on shares of Cheesecake Factory in a report on Wednesday, May 14th. Seven investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and four have issued a Sell rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $61.94.

Cheesecake Factory Stock Performance

Cheesecake Factory stock traded down $0.58 during mid-day trading on Monday, hitting $61.46. The company had a trading volume of 812,183 shares, compared to its average volume of 1,301,204. 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 Cheesecake Factory Incorporated has a 12-month low of $35.40 and a 12-month high of $69.70. The company's fifty day moving average is $63.09 and its 200-day moving average is $55.65. The company has a market capitalization of $3.06 billion, a price-to-earnings ratio of 18.91, a P/E/G ratio of 1.46 and a beta of 1.10.

Cheesecake Factory (NASDAQ:CAKE - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The restaurant operator reported $1.16 EPS 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 for the quarter, compared to analyst estimates of $945.82 million. During the same quarter in the prior year, the firm posted $1.09 EPS. The business's quarterly revenue was up 5.7% compared to the same quarter last year. Equities research analysts predict that The Cheesecake Factory Incorporated will post 3.71 EPS for the current year.

Cheesecake Factory Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 26th. Stockholders of record on Tuesday, August 12th were given a dividend of $0.27 per share. The ex-dividend date was Tuesday, August 12th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.8%. 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.