Headlands Technologies LLC lifted its stake in The Cheesecake Factory Incorporated (NASDAQ:CAKE - Free Report) by 50.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,703 shares of the restaurant operator's stock after buying an additional 11,318 shares during the period. Headlands Technologies LLC owned approximately 0.07% of Cheesecake Factory worth $1,640,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently modified their holdings of the stock. USA Financial Formulas acquired a new position in Cheesecake Factory during the 1st quarter worth approximately $49,000. Golden State Wealth Management LLC raised its stake in shares of Cheesecake Factory by 100.0% during the first quarter. Golden State Wealth Management LLC now owns 1,060 shares of the restaurant operator's stock valued at $52,000 after purchasing an additional 530 shares during the period. SBI Securities Co. Ltd. raised its stake in shares of Cheesecake Factory by 38.5% during the first quarter. SBI Securities Co. Ltd. now owns 1,244 shares of the restaurant operator's stock valued at $61,000 after purchasing an additional 346 shares during the period. Bayforest Capital Ltd acquired a new position in shares of Cheesecake Factory during the first quarter worth $72,000. Finally, FORA Capital LLC purchased a new position in shares of Cheesecake Factory in the fourth quarter valued at $203,000. Hedge funds and other institutional investors own 94.48% of the company's stock.
Insiders Place Their Bets
In other Cheesecake Factory news, insider Keith Carango sold 50,500 shares of the business's stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $55.12, for a total transaction of $2,783,560.00. Following the sale, the insider directly owned 20,774 shares in the company, valued at approximately $1,145,062.88. The trade was a 70.85% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Alexander L. Cappello sold 12,388 shares of the stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $65.88, for a total transaction of $816,121.44. Following the completion of the transaction, the director owned 6,806 shares of the company's stock, valued at $448,379.28. This trade represents a 64.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 145,388 shares of company stock worth $8,273,113. 8.10% of the stock is owned by company insiders.
Analyst Upgrades and Downgrades
CAKE has been the subject of a number of analyst reports. Raymond James Financial upped their price objective on shares of Cheesecake Factory from $63.00 to $70.00 and gave the company an "outperform" rating in a research report on Thursday, July 17th. Citigroup lowered their price objective on Cheesecake Factory from $67.00 to $62.00 and set a "buy" rating for the company in a research note on Tuesday, April 15th. Piper Sandler upped their target price on Cheesecake Factory from $54.00 to $62.00 and gave the company a "neutral" rating in a research report on Monday, August 4th. The Goldman Sachs Group reiterated a "neutral" rating and set a $67.00 target price (up from $66.00) on shares of Cheesecake Factory in a research note on Thursday, July 10th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Cheesecake Factory from $50.00 to $58.00 and gave the stock an "underweight" rating in a research note on Wednesday, June 25th. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $61.75.
View Our Latest Analysis on Cheesecake Factory
Cheesecake Factory Stock Performance
NASDAQ CAKE traded up $0.63 during trading hours on Tuesday, hitting $61.95. The company had a trading volume of 386,121 shares, compared to its average volume of 1,469,786. 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 firm has a market cap of $3.09 billion, a P/E ratio of 19.11, a price-to-earnings-growth ratio of 1.47 and a beta of 1.17. The Cheesecake Factory Incorporated has a fifty-two week low of $35.12 and a fifty-two week high of $69.70. The business has a fifty day simple moving average of $61.89 and a 200-day simple moving average of $54.84.
Cheesecake Factory (NASDAQ:CAKE - Get Free Report) last issued its quarterly earnings data 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. The firm had revenue of $955.83 million for the quarter, compared to the consensus estimate of $945.82 million. Cheesecake Factory had a net margin of 4.33% and a return on equity of 45.92%. Cheesecake Factory's quarterly revenue was up 5.7% compared to the same quarter last year. During the same period last year, the firm posted $1.09 EPS. Equities analysts predict that The Cheesecake Factory Incorporated will post 3.71 EPS for the current year.
Cheesecake Factory Dividend Announcement
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 paid a $0.27 dividend. The ex-dividend date of this dividend is Tuesday, August 12th. This represents a $1.08 annualized dividend and a dividend yield of 1.7%. Cheesecake Factory's dividend payout ratio is presently 33.23%.
About Cheesecake Factory
(
Free Report)
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.
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