Tabor Asset Management LP Sells 6,968 Shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE)

Tabor Asset Management LP lowered its position in The Cheesecake Factory Incorporated (NASDAQ:CAKE - Free Report) by 21.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,764 shares of the restaurant operator's stock after selling 6,968 shares during the period. Tabor Asset Management LP owned about 0.05% of Cheesecake Factory worth $1,222,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. First Eagle Investment Management LLC raised its holdings in shares of Cheesecake Factory by 9.7% in the fourth quarter. First Eagle Investment Management LLC now owns 360,718 shares of the restaurant operator's stock valued at $17,112,000 after purchasing an additional 32,000 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new stake in Cheesecake Factory during the fourth quarter worth about $489,000. Ruffer LLP purchased a new stake in Cheesecake Factory during the fourth quarter worth about $9,401,000. Dynamic Technology Lab Private Ltd purchased a new stake in Cheesecake Factory during the fourth quarter worth about $972,000. Finally, Norges Bank purchased a new stake in Cheesecake Factory during the fourth quarter worth about $6,513,000. Hedge funds and other institutional investors own 94.48% of the company's stock.

Cheesecake Factory Trading Up 0.4%

NASDAQ:CAKE traded up $0.23 during midday trading on Friday, reaching $52.58. 952,110 shares of the stock traded hands, compared to its average volume of 1,192,023. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.33 and a current ratio of 0.44. The Cheesecake Factory Incorporated has a 12 month low of $33.50 and a 12 month high of $57.32. The stock has a market capitalization of $2.60 billion, a P/E ratio of 16.43, a PEG ratio of 1.31 and a beta of 1.11. The company has a fifty day moving average of $49.74 and a 200 day moving average of $50.04.

Cheesecake Factory (NASDAQ:CAKE - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The restaurant operator reported $0.93 EPS for the quarter, topping the consensus estimate of $0.81 by $0.12. Cheesecake Factory had a net margin of 4.38% and a return on equity of 45.89%. The business had revenue of $927.20 million during the quarter, compared to analyst estimates of $927.17 million. During the same period in the prior year, the business earned $0.73 EPS. The company's revenue for the quarter was up 4.0% on a year-over-year basis. On average, research analysts predict that The Cheesecake Factory Incorporated will post 3.71 EPS for the current year.

Cheesecake Factory Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 27th. Shareholders of record on Wednesday, May 14th will be issued a $0.27 dividend. The ex-dividend date of this dividend is Wednesday, May 14th. This represents a $1.08 annualized dividend and a yield of 2.05%. Cheesecake Factory's dividend payout ratio (DPR) is presently 33.86%.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Wedbush raised their price objective on shares of Cheesecake Factory from $59.00 to $61.00 and gave the stock an "outperform" rating in a report on Thursday, February 20th. Piper Sandler lifted their target price on shares of Cheesecake Factory from $47.00 to $51.00 and gave the stock a "neutral" rating in a research note on Thursday, February 20th. Citigroup reduced their target price on shares of Cheesecake Factory from $67.00 to $62.00 and set a "buy" rating for the company in a research note on Tuesday, April 15th. Stephens reiterated an "overweight" rating and issued a $60.00 target price on shares of Cheesecake Factory in a research note on Thursday, May 1st. Finally, The Goldman Sachs Group raised their price objective on shares of Cheesecake Factory from $56.00 to $64.00 and gave the company a "buy" rating in a research report on Thursday, February 6th. Four analysts have rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat.com, Cheesecake Factory has a consensus rating of "Hold" and a consensus price target of $54.00.

Insiders Place Their Bets

In other Cheesecake Factory news, CFO Matthew Eliot Clark sold 29,000 shares of the company's stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $53.56, for a total value of $1,553,240.00. Following the completion of the transaction, the chief financial officer now directly owns 39,856 shares in the company, valued at approximately $2,134,687.36. This represents a 42.12% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman David Overton sold 100,000 shares of the company's stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $53.08, for a total transaction of $5,308,000.00. Following the completion of the transaction, the chairman now owns 3,092,147 shares of the company's stock, valued at $164,131,162.76. This trade represents a 3.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company 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.