The Cheesecake Factory Incorporated $CAKE Shares Sold by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

Key Points

• UBS Asset Management reduced its Cheesecake Factory stake by 17% in the second quarter, selling 15,128 shares and retaining 73,949 shares worth approximately $5.9 million. Institutional investors collectively own 94.48% of CAKE.
• Cheesecake Factory reported quarterly earnings of $1.44 per share, beating estimates of $1.18, while revenue rose 7.7% year over year to $1.03 billion. The company also paid a quarterly dividend of $0.30 per share, equivalent to a 1.1% annualized yield.
• Analysts maintain a consensus “Hold” rating with an average price target of $83.47, below the stock’s reported $107.21 price. Company insiders sold $22.3 million of shares during the quarter, including substantial sales by Chairman David Overton.

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC decreased its position in shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE - Free Report) by 17.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 73,949 shares of the restaurant operator's stock after selling 15,128 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.15% of Cheesecake Factory worth $5,882,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the company. Allworth Financial LP acquired a new position in Cheesecake Factory during the 2nd quarter valued at about $36,000. Global Retirement Partners LLC raised its holdings in shares of Cheesecake Factory by 661.7% during the fourth quarter. Global Retirement Partners LLC now owns 716 shares of the restaurant operator's stock valued at $36,000 after buying an additional 622 shares during the last quarter. NFSG Corp boosted its position in shares of Cheesecake Factory by 115.8% during the first quarter. NFSG Corp now owns 682 shares of the restaurant operator's stock worth $37,000 after buying an additional 366 shares during the period. Root Financial Partners LLC boosted its position in shares of Cheesecake Factory by 973.2% during the fourth quarter. Root Financial Partners LLC now owns 880 shares of the restaurant operator's stock worth $44,000 after buying an additional 798 shares during the period. Finally, Arax Advisory Partners bought a new position in Cheesecake Factory in the 4th quarter worth approximately $50,000. Institutional investors and hedge funds own 94.48% of the company's stock.

Cheesecake Factory Stock Performance

CAKE opened at $107.21 on Wednesday. The business has a 50 day moving average price of $98.20 and a two-hundred day moving average price of $75.65. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.59 and a quick ratio of 0.52. The company has a market capitalization of $5.33 billion, a price-to-earnings ratio of 29.05, a price-to-earnings-growth ratio of 1.82 and a beta of 1.01. The Cheesecake Factory Incorporated has a 1-year low of $43.07 and a 1-year high of $118.46.

Cheesecake Factory (NASDAQ:CAKE - Get Free Report) last issued its quarterly earnings results on Tuesday, July 28th. The restaurant operator reported $1.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.18 by $0.26. The company had revenue of $1.03 billion for the quarter, compared to analysts' expectations of $999.54 million. Cheesecake Factory had a return on equity of 43.97% and a net margin of 4.61%.The firm's revenue for the quarter was up 7.7% on a year-over-year basis. During the same period last year, the firm earned $1.16 EPS. Research analysts predict that The Cheesecake Factory Incorporated will post 4.52 EPS for the current fiscal year.

Cheesecake Factory Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 25th. Shareholders of record on Tuesday, August 11th were given a $0.30 dividend. The ex-dividend date was Tuesday, August 11th. This represents a $1.20 annualized dividend and a yield of 1.1%. Cheesecake Factory's payout ratio is 32.52%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Citigroup lifted their target price on Cheesecake Factory from $76.00 to $90.00 and gave the company a "buy" rating in a research note on Friday, July 10th. Weiss Ratings raised Cheesecake Factory from a "buy (b-)" rating to a "buy (b)" rating in a research note on Thursday, August 13th. Bank of America raised their price target on Cheesecake Factory from $66.00 to $79.00 and gave the company a "neutral" rating in a report on Thursday, July 2nd. Robert W. Baird upgraded shares of Cheesecake Factory to a "hold" rating in a research note on Monday, August 24th. Finally, Oppenheimer upped their price objective on shares of Cheesecake Factory from $91.00 to $101.00 and gave the stock an "outperform" rating in a report on Wednesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Cheesecake Factory currently has a consensus rating of "Hold" and an average target price of $83.47.

Insider Transactions at Cheesecake Factory

In other news, Director Edie A. Ames sold 3,000 shares of Cheesecake Factory stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $106.95, for a total value of $320,850.00. Following the transaction, the director owned 10,000 shares of the company's stock, valued at $1,069,500. The trade was a 23.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Chairman David Overton sold 94,145 shares of the business's stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $106.27, for a total transaction of $10,004,789.15. Following the completion of the sale, the chairman owned 89,805 shares in the company, valued at $9,543,577.35. The trade was a 51.18% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 213,749 shares of company stock valued at $22,301,899 in the last quarter. 8.00% of the stock is owned by company insiders.

About Cheesecake Factory

The Cheesecake Factory Incorporated NASDAQ: CAKE is an American restaurant company and distributor renowned for its full-service casual-dining concept and specialty cheesecakes. Headquartered in Calabasas Hills, California, the company operates more than 200 restaurants under The Cheesecake Factory® brand across the United States, Puerto Rico and select international markets. In addition to sit-down dining, Cheesecake Factory franchised locations offer catering and take-out services, while a separate manufacturing arm supplies branded cheesecakes and desserts to supermarkets, hotels and other foodservice operators.

The origins of the brand trace back to a small cheesecake bakery founded in Detroit in the 1940s.

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