The Cheesecake Factory Incorporated $CAKE Shares Acquired by Redhawk Wealth Advisors Inc.

Key Points

• Redhawk Wealth Advisors Inc. significantly increased its stake in The Cheesecake Factory, raising its position by 295.7% to own 29,003 shares valued at approximately $1.8 million.
• The Cheesecake Factory reported earnings of $1.16 per share, surpassing analysts' expectations, and achieved a revenue of $955.83 million, marking a 5.7% year-over-year increase.
• The company declared a quarterly dividend of $0.27 per share, reflecting an annual yield of 2.0% with a payout ratio of 33.23%.

Redhawk Wealth Advisors Inc. lifted its stake in The Cheesecake Factory Incorporated (NASDAQ:CAKE - Free Report) by 295.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,003 shares of the restaurant operator's stock after buying an additional 21,673 shares during the period. Redhawk Wealth Advisors Inc. owned approximately 0.06% of Cheesecake Factory worth $1,817,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Principal Financial Group Inc. lifted its holdings in shares of Cheesecake Factory by 2.2% in the first quarter. Principal Financial Group Inc. now owns 274,877 shares of the restaurant operator's stock valued at $13,376,000 after purchasing an additional 6,047 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in Cheesecake Factory during the first quarter valued at approximately $5,559,000. Foundry Partners LLC acquired a new position in shares of Cheesecake Factory in the 1st quarter worth approximately $299,000. Informed Momentum Co LLC bought a new position in Cheesecake Factory in the 1st quarter worth approximately $3,023,000. Finally, Headlands Technologies LLC raised its position in Cheesecake Factory by 50.6% in the 1st quarter. Headlands Technologies LLC now owns 33,703 shares of the restaurant operator's stock worth $1,640,000 after purchasing an additional 11,318 shares during the last quarter. 94.48% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Cheesecake Factory news, Director Alexander L. Cappello sold 12,388 shares of the business's stock in a transaction on Thursday, July 31st. The shares were sold at an average price of $65.88, for a total value of $816,121.44. Following the completion of the sale, the director directly owned 6,806 shares of the company's stock, valued at $448,379.28. The trade was a 64.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, President David M. Gordon sold 43,335 shares of the company's stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $63.06, for a total transaction of $2,732,705.10. Following the completion of the sale, the president owned 24,532 shares in the company, valued at approximately $1,546,987.92. This trade represents a 63.85% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 8.40% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Bank of America increased their target price on Cheesecake Factory from $61.00 to $67.00 and gave the stock a "neutral" rating in a report on Friday, July 18th. Wells Fargo & Company boosted their target price 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. Piper Sandler boosted 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. 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 report on Friday, August 15th. Finally, Barclays raised their price objective on shares of Cheesecake Factory from $57.00 to $62.00 and gave the company an "underweight" rating in a research note on Wednesday, July 30th. 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 stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $61.94.

Cheesecake Factory Stock Performance

CAKE stock traded down $0.54 during trading on Friday, reaching $54.58. 2,053,953 shares of the company's stock were exchanged, compared to its average volume of 1,186,171. The firm has a market cap of $2.72 billion, a PE ratio of 16.79, a P/E/G ratio of 1.30 and a beta of 1.10. The Cheesecake Factory Incorporated has a 1-year low of $38.40 and a 1-year high of $69.70. 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 company's fifty day moving average price is $61.66 and its 200-day moving average price is $56.14.

Cheesecake Factory (NASDAQ:CAKE - Get Free Report) last announced its earnings results on Tuesday, July 29th. The restaurant operator reported $1.16 earnings per share for the quarter, beating 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 firm had revenue of $955.83 million during the quarter, compared to the consensus estimate of $945.82 million. During the same quarter in the prior year, the company earned $1.09 EPS. The firm's revenue for the quarter was up 5.7% compared to the same quarter last year. On average, research analysts expect that The Cheesecake Factory Incorporated will post 3.71 EPS for the current fiscal year.

Cheesecake Factory Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 26th. Shareholders of record on Tuesday, August 12th were paid a dividend of $0.27 per share. The ex-dividend date was Tuesday, August 12th. This represents a $1.08 annualized dividend and a yield of 2.0%. Cheesecake Factory's dividend 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.