Russell Investments Group Ltd. Has $1.19 Million Stock Holdings in The Cheesecake Factory Incorporated $CAKE

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. reduced its stake in The Cheesecake Factory Incorporated (NASDAQ:CAKE - Free Report) by 36.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 24,504 shares of the restaurant operator's stock after selling 13,913 shares during the period. Russell Investments Group Ltd.'s holdings in Cheesecake Factory were worth $1,192,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in CAKE. Westwood Holdings Group Inc. acquired a new stake in shares of Cheesecake Factory in the 1st quarter worth approximately $75,795,000. Wellington Management Group LLP acquired a new stake in shares of Cheesecake Factory in the 4th quarter worth approximately $56,288,000. Invesco Ltd. lifted its stake in shares of Cheesecake Factory by 83.5% in the 1st quarter. Invesco Ltd. now owns 2,591,205 shares of the restaurant operator's stock worth $126,088,000 after acquiring an additional 1,178,722 shares during the period. Victory Capital Management Inc. lifted its stake in shares of Cheesecake Factory by 64.1% in the 1st quarter. Victory Capital Management Inc. now owns 1,766,131 shares of the restaurant operator's stock worth $85,940,000 after acquiring an additional 689,784 shares during the period. Finally, Junto Capital Management LP acquired a new stake in shares of Cheesecake Factory in the 4th quarter worth approximately $21,827,000. 94.48% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

CAKE has been the subject of a number of research analyst reports. Morgan Stanley upped their price target on shares of Cheesecake Factory from $45.00 to $47.00 and gave the stock an "underweight" rating in a research note on Thursday, July 31st. Raymond James Financial increased their target price on shares of Cheesecake Factory from $70.00 to $73.00 and gave the company an "outperform" rating in a research note on Friday, August 15th. Piper Sandler increased their target price on shares of Cheesecake Factory from $54.00 to $62.00 and gave the company a "neutral" rating in a research note on Monday, August 4th. Argus set a $60.00 target price on shares of Cheesecake Factory in a research note on Wednesday, May 14th. Finally, The Goldman Sachs Group reissued a "neutral" rating and set a $67.00 target price (up from $66.00) on shares of Cheesecake Factory in a research note on Thursday, July 10th. Seven equities research 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. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $61.94.

Cheesecake Factory Trading Up 1.0%

Shares of CAKE stock traded up $0.61 during trading hours on Wednesday, reaching $61.70. 649,871 shares of the stock traded hands, compared to its average volume of 1,164,161. 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 $63.18 and a 200 day moving average price of $55.78. 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 $3.07 billion, a PE ratio of 18.98, a PEG ratio of 1.46 and a beta of 1.10.

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 Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 26th. Stockholders of record on Tuesday, August 12th were issued 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 payout ratio is currently 33.23%.

Insider Activity

In other news, 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 sale, the president 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Scarlett May sold 18,800 shares of the company's stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $58.82, for a total transaction of $1,105,816.00. Following the completion of the transaction, the executive vice president owned 22,872 shares in the company, valued at approximately $1,345,331.04. This represents a 45.11% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 74,523 shares of company stock worth $4,654,643 over the last 90 days. 8.10% of the stock is owned by company insiders.

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.