Tabor Asset Management LP Boosts Stake in The Cheesecake Factory Incorporated (NASDAQ:CAKE)

Tabor Asset Management LP lifted its holdings in The Cheesecake Factory Incorporated (NASDAQ:CAKE - Free Report) by 46.9% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 37,837 shares of the restaurant operator's stock after purchasing an additional 12,073 shares during the period. Tabor Asset Management LP owned about 0.08% of Cheesecake Factory worth $1,841,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Lido Advisors LLC increased its position in Cheesecake Factory by 2.0% in the fourth quarter. Lido Advisors LLC now owns 10,805 shares of the restaurant operator's stock worth $513,000 after buying an additional 215 shares in the last quarter. Summit Investment Advisors Inc. increased its position in Cheesecake Factory by 4.7% in the fourth quarter. Summit Investment Advisors Inc. now owns 5,051 shares of the restaurant operator's stock worth $240,000 after buying an additional 228 shares in the last quarter. Blair William & Co. IL increased its position in Cheesecake Factory by 5.2% in the fourth quarter. Blair William & Co. IL now owns 5,772 shares of the restaurant operator's stock worth $274,000 after buying an additional 283 shares in the last quarter. Bridges Investment Management Inc. increased its position in Cheesecake Factory by 4.0% in the first quarter. Bridges Investment Management Inc. now owns 7,677 shares of the restaurant operator's stock worth $374,000 after buying an additional 292 shares in the last quarter. Finally, SBI Securities Co. Ltd. increased its position in Cheesecake Factory by 38.5% in the first 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. Institutional investors own 94.48% of the company's stock.

Analyst Ratings Changes

A number of analysts have commented on the company. Wells Fargo & Company upped their price target on Cheesecake Factory from $50.00 to $60.00 and gave the stock an "equal weight" rating in a research report on Thursday. Raymond James Financial upped their price objective on Cheesecake Factory from $63.00 to $70.00 and gave the stock an "outperform" rating in a research note on Thursday. The Goldman Sachs Group reissued a "neutral" rating and set a $67.00 target price (up previously from $66.00) on shares of Cheesecake Factory in a research note on Thursday, July 10th. Argus set a $60.00 price objective on shares of Cheesecake Factory in a research report on Wednesday, May 14th. Finally, Oppenheimer lifted their price objective on shares of Cheesecake Factory from $65.00 to $75.00 and gave the company an "outperform" rating in a research report on Friday, July 11th. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, Cheesecake Factory presently has a consensus rating of "Hold" and a consensus price target of $59.38.

Cheesecake Factory Price Performance

Shares of NASDAQ CAKE traded up $0.93 during trading on Monday, hitting $63.61. The company had a trading volume of 61,772 shares, compared to its average volume of 1,252,884. The stock has a fifty day simple moving average of $58.78 and a two-hundred day simple moving average of $53.26. The Cheesecake Factory Incorporated has a fifty-two week low of $33.50 and a fifty-two week high of $65.99. The firm has a market capitalization of $3.15 billion, a price-to-earnings ratio of 19.93, a price-to-earnings-growth ratio of 1.59 and a beta of 1.16. The company has a quick ratio of 0.43, a current ratio of 0.53 and a debt-to-equity ratio of 1.85.

Cheesecake Factory (NASDAQ:CAKE - Get Free Report) last released its earnings results on Wednesday, April 30th. The restaurant operator reported $0.93 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.12. The business had revenue of $927.20 million for the quarter, compared to the consensus estimate of $927.17 million. Cheesecake Factory had a return on equity of 46.06% and a net margin of 4.33%. The business's quarterly revenue was up 4.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.73 earnings per share. On average, research analysts expect that The Cheesecake Factory Incorporated will post 3.71 earnings per share for the current year.

Cheesecake Factory Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 27th. Shareholders of record on Wednesday, May 14th were paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date was Wednesday, May 14th. Cheesecake Factory's dividend payout ratio (DPR) is presently 33.86%.

Insiders Place Their Bets

In other Cheesecake Factory news, CFO Matthew Eliot Clark sold 42,900 shares of the firm's stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $56.00, for a total transaction of $2,402,400.00. Following the completion of the sale, the chief financial officer owned 40,878 shares of the company's stock, valued at $2,289,168. This trade represents a 51.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Scarlett May sold 20,800 shares of Cheesecake Factory stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $56.02, for a total value of $1,165,216.00. Following the completion of the sale, the executive vice president directly owned 22,872 shares of the company's stock, valued at $1,281,289.44. The trade was a 47.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 133,000 shares of company stock valued at $7,456,992 over the last ninety days. Company insiders own 8.10% of the company's stock.

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.

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