Contravisory Investment Management Inc. Raises Holdings in The Cheesecake Factory Incorporated (NASDAQ:CAKE)

Contravisory Investment Management Inc. increased its stake in The Cheesecake Factory Incorporated (NASDAQ:CAKE - Free Report) by 1,064.7% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,950 shares of the restaurant operator's stock after acquiring an additional 4,525 shares during the period. Contravisory Investment Management Inc.'s holdings in Cheesecake Factory were worth $241,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Golden State Wealth Management LLC bought a new position in shares of Cheesecake Factory during the 4th quarter valued at about $25,000. SBI Securities Co. Ltd. purchased a new stake in Cheesecake Factory in the fourth quarter worth approximately $43,000. Venturi Wealth Management LLC grew its position in Cheesecake Factory by 1,149.5% during the fourth quarter. Venturi Wealth Management LLC now owns 1,312 shares of the restaurant operator's stock valued at $62,000 after acquiring an additional 1,207 shares during the last quarter. KBC Group NV grew its position in Cheesecake Factory by 46.9% during the fourth quarter. KBC Group NV now owns 2,321 shares of the restaurant operator's stock valued at $110,000 after acquiring an additional 741 shares during the last quarter. Finally, Smartleaf Asset Management LLC raised its stake in shares of Cheesecake Factory by 208.8% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,628 shares of the restaurant operator's stock worth $125,000 after acquiring an additional 1,777 shares in the last quarter. Hedge funds and other institutional investors own 94.48% of the company's stock.

Cheesecake Factory Stock Up 2.0%

Shares of CAKE stock traded up $1.11 on Friday, hitting $57.81. The stock had a trading volume of 1,043,669 shares, compared to its average volume of 1,204,816. The business has a 50 day moving average price of $50.78 and a 200 day moving average price of $50.52. The Cheesecake Factory Incorporated has a one year low of $33.50 and a one year high of $57.89. The company has a market cap of $2.86 billion, a PE ratio of 18.07, a P/E/G ratio of 1.31 and a beta of 1.14. The company has a quick ratio of 0.33, a current ratio of 0.44 and a debt-to-equity ratio of 1.19.

Cheesecake Factory (NASDAQ:CAKE - Get Free Report) last posted its earnings results on Wednesday, April 30th. The restaurant operator reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.12. The company had revenue of $927.20 million for the quarter, compared to analyst estimates of $927.17 million. Cheesecake Factory had a return on equity of 45.89% and a net margin of 4.38%. The firm's quarterly revenue was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.73 earnings per share. Research analysts anticipate that The Cheesecake Factory Incorporated will post 3.71 earnings per share for the current fiscal year.

Cheesecake Factory Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 27th. Investors of record on Wednesday, May 14th were paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date was Wednesday, May 14th. Cheesecake Factory's dividend payout ratio (DPR) is presently 33.86%.

Wall Street Analyst Weigh In

Several research firms recently commented on CAKE. William Blair reaffirmed an "outperform" rating on shares of Cheesecake Factory in a report on Thursday, February 20th. UBS Group upped their price target on shares of Cheesecake Factory from $41.00 to $45.00 and gave the company a "sell" rating in a research report on Thursday, February 20th. Wedbush lifted their price objective on Cheesecake Factory from $59.00 to $61.00 and gave the stock an "outperform" rating in a report on Thursday, February 20th. Morgan Stanley boosted their target price on Cheesecake Factory from $39.00 to $40.00 and gave the company an "underweight" rating in a research note on Thursday, May 1st. Finally, Robert W. Baird raised their price target on Cheesecake Factory from $46.00 to $49.00 and gave the stock a "neutral" rating in a research report on Thursday, May 1st. Four equities research analysts have rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $54.00.

Insiders Place Their Bets

In other Cheesecake Factory news, EVP Scarlett May sold 20,800 shares of the company's 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 sale, the executive vice president now directly owns 22,872 shares of the company's stock, valued at approximately $1,281,289.44. This represents a 47.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Matthew Eliot Clark sold 42,900 shares of Cheesecake Factory stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $56.00, for a total value of $2,402,400.00. Following the completion of the transaction, the chief financial officer now owns 40,878 shares of the company's stock, valued at approximately $2,289,168. This represents a 51.21% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 114,200 shares of company stock valued at $6,351,176. Insiders own 8.40% of the company's stock.

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.