American Century Companies Inc. Has $78.08 Million Position in The Cheesecake Factory Incorporated $CAKE

Key Points

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American Century Companies Inc. grew its stake in The Cheesecake Factory Incorporated (NASDAQ:CAKE - Free Report) by 17.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,604,626 shares of the restaurant operator's stock after purchasing an additional 241,575 shares during the period. American Century Companies Inc. owned about 3.24% of Cheesecake Factory worth $78,081,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Invesco Ltd. lifted its holdings in shares of Cheesecake Factory by 83.5% during 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 holdings in shares of Cheesecake Factory by 64.1% during 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. Westwood Holdings Group Inc. bought a new position in shares of Cheesecake Factory during the 1st quarter worth about $75,795,000. Wellington Management Group LLP bought a new position in shares of Cheesecake Factory during the 4th quarter worth about $56,288,000. Finally, JCP Investment Management LLC lifted its holdings in shares of Cheesecake Factory by 181.3% during the 4th quarter. JCP Investment Management LLC now owns 667,210 shares of the restaurant operator's stock worth $31,652,000 after acquiring an additional 430,000 shares during the period. 94.48% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Cheesecake Factory

In other news, EVP Scarlett May sold 18,800 shares of Cheesecake Factory 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 sale, the executive vice president owned 22,872 shares in the company, valued at $1,345,331.04. The trade was a 45.11% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, President David M. Gordon sold 43,335 shares of Cheesecake Factory stock in a transaction that occurred on 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 sale, the president owned 24,532 shares of the company's stock, valued at approximately $1,546,987.92. This represents a 63.85% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 188,723 shares of company stock worth $11,005,819 over the last 90 days. Insiders own 8.40% of the company's stock.

Cheesecake Factory Price Performance

Shares of NASDAQ CAKE traded up $0.58 during trading on Friday, reaching $62.71. The company had a trading volume of 1,057,662 shares, compared to its average volume of 1,632,923. The Cheesecake Factory Incorporated has a 52 week low of $35.40 and a 52 week high of $69.70. The stock has a market cap of $3.12 billion, a PE ratio of 19.30, a PEG ratio of 1.48 and a beta of 1.17. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.42 and a current ratio of 0.51. The business's 50 day moving average price is $62.83 and its 200-day moving average price is $55.33.

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, topping 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 company had revenue of $955.83 million during the quarter, compared to the consensus estimate of $945.82 million. During the same period in the previous year, the firm posted $1.09 earnings per share. The company's revenue was up 5.7% on a year-over-year basis. Analysts expect that The Cheesecake Factory Incorporated will post 3.71 earnings per share for the current year.

Cheesecake Factory Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 26th. Stockholders of record on Tuesday, August 12th will be given a dividend of $0.27 per share. The ex-dividend date is Tuesday, August 12th. This represents a $1.08 annualized dividend and a dividend yield of 1.7%. Cheesecake Factory's payout ratio is currently 33.23%.

Analyst Ratings Changes

Several equities analysts recently issued reports on CAKE shares. JPMorgan Chase & Co. lifted their price target 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. The Goldman Sachs Group reissued a "neutral" rating and set a $67.00 price target (up from $66.00) on shares of Cheesecake Factory in a report on Thursday, July 10th. Oppenheimer lifted their price target on shares of Cheesecake Factory from $65.00 to $75.00 and gave the company an "outperform" rating in a report on Friday, July 11th. Stephens reissued an "overweight" rating and set a $60.00 price target on shares of Cheesecake Factory in a report on Thursday, May 1st. Finally, Argus set a $60.00 price target on shares of Cheesecake Factory in a report on Wednesday, May 14th. Seven equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat.com, Cheesecake Factory currently has a consensus rating of "Hold" and an average price target of $61.94.

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.