Two Sigma Investments LP Sells 60,384 Shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE)

Two Sigma Investments LP cut its holdings in The Cheesecake Factory Incorporated (NASDAQ:CAKE - Free Report) by 24.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 188,472 shares of the restaurant operator's stock after selling 60,384 shares during the quarter. Two Sigma Investments LP owned 0.37% of Cheesecake Factory worth $8,941,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. First Eagle Investment Management LLC lifted its position in shares of Cheesecake Factory by 9.7% during the 4th quarter. First Eagle Investment Management LLC now owns 360,718 shares of the restaurant operator's stock valued at $17,112,000 after acquiring an additional 32,000 shares during the period. KLP Kapitalforvaltning AS bought a new stake in Cheesecake Factory in the fourth quarter valued at $489,000. Ruffer LLP acquired a new position in shares of Cheesecake Factory during the fourth quarter valued at about $9,401,000. Dynamic Technology Lab Private Ltd bought a new position in shares of Cheesecake Factory during the 4th quarter worth about $972,000. Finally, Norges Bank acquired a new stake in shares of Cheesecake Factory in the 4th quarter valued at about $6,513,000. 94.48% of the stock is currently owned by institutional investors.

Cheesecake Factory Stock Down 0.9%

NASDAQ:CAKE traded down $0.50 on Friday, hitting $55.11. The stock had a trading volume of 129,415 shares, compared to its average volume of 1,193,081. The Cheesecake Factory Incorporated has a 1 year low of $33.50 and a 1 year high of $57.32. The firm's fifty day simple moving average is $50.18 and its two-hundred day simple moving average is $50.24. 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 stock has a market cap of $2.73 billion, a P/E ratio of 17.27, a price-to-earnings-growth ratio of 1.31 and a beta of 1.11.

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

Cheesecake Factory Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 27th. Investors of record on Wednesday, May 14th were issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date of this dividend was Wednesday, May 14th. Cheesecake Factory's dividend payout ratio (DPR) is currently 33.86%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. JPMorgan Chase & Co. dropped their price target on Cheesecake Factory from $55.00 to $48.00 and set an "underweight" rating on the stock in a research note on Thursday, March 20th. Morgan Stanley boosted their price objective on Cheesecake Factory from $39.00 to $40.00 and gave the company an "underweight" rating in a report on Thursday, May 1st. The Goldman Sachs Group increased their target price on Cheesecake Factory from $56.00 to $64.00 and gave the stock a "buy" rating in a report on Thursday, February 6th. Piper Sandler lifted their price target on shares of Cheesecake Factory from $47.00 to $51.00 and gave the company a "neutral" rating in a research report on Thursday, February 20th. Finally, Wells Fargo & Company upped their price objective on shares of Cheesecake Factory from $45.00 to $50.00 and gave the stock an "equal weight" rating in a report on Thursday, May 1st. Four investment analysts have rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat, Cheesecake Factory currently has a consensus rating of "Hold" and an average target price of $54.00.

Insider Activity at Cheesecake Factory

In other news, CFO Matthew Eliot Clark sold 42,900 shares of the company's stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $56.00, for a total transaction of $2,402,400.00. Following the transaction, the chief financial officer now owns 40,878 shares of the company's stock, valued at $2,289,168. This represents a 51.21% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Keith Carango sold 50,500 shares of Cheesecake Factory stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $55.12, for a total value of $2,783,560.00. Following the completion of the sale, the insider now directly owns 20,774 shares of the company's stock, valued at approximately $1,145,062.88. This trade represents a 70.85% decrease in their position. The disclosure for this sale can be found here. 8.40% of the stock is owned by company insiders.

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.