Versor Investments LP Decreases Stock Holdings in The Cheesecake Factory Incorporated $CAKE

Key Points

• Versor Investments LP reduced its holdings in The Cheesecake Factory by 50% in Q1, holding 11,365 shares valued at approximately $553,000.
• The Cheesecake Factory reported $1.16 earnings per share for the quarter, exceeding the consensus estimate of $1.06, with revenue of $955.83 million, a 5.7% increase year-over-year.
• The company recently declared a quarterly dividend of $0.27, payable on August 26th, resulting in an annualized yield of 1.7%.

Versor Investments LP lowered its holdings in The Cheesecake Factory Incorporated (NASDAQ:CAKE - Free Report) by 50.0% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,365 shares of the restaurant operator's stock after selling 11,387 shares during the period. Versor Investments LP's holdings in Cheesecake Factory were worth $553,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. USA Financial Formulas purchased a new position in shares of Cheesecake Factory during the 1st quarter valued at about $49,000. Golden State Wealth Management LLC increased its position in shares of Cheesecake Factory by 100.0% in the first quarter. Golden State Wealth Management LLC now owns 1,060 shares of the restaurant operator's stock valued at $52,000 after acquiring an additional 530 shares during the period. SBI Securities Co. Ltd. raised its position in Cheesecake Factory by 38.5% during the 1st 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 last quarter. Bayforest Capital Ltd bought a new position in shares of Cheesecake Factory during the first quarter valued at approximately $72,000. Finally, FORA Capital LLC purchased a new stake in shares of Cheesecake Factory in the 4th quarter worth about $203,000. 94.48% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on CAKE shares. The Goldman Sachs Group reissued a "neutral" rating and set a $67.00 price target (up from $66.00) on shares of Cheesecake Factory in a research report on Thursday, July 10th. Morgan Stanley lifted their price objective on Cheesecake Factory from $45.00 to $47.00 and gave the stock an "underweight" rating in a report on Thursday, July 31st. Piper Sandler increased their price target on Cheesecake Factory from $54.00 to $62.00 and gave the company a "neutral" rating in a report on Monday, August 4th. Barclays raised their price objective on shares of Cheesecake Factory from $57.00 to $62.00 and gave the stock an "underweight" rating in a report on Wednesday, July 30th. Finally, Wells Fargo & Company boosted their price target on Cheesecake Factory from $60.00 to $65.00 and gave the company an "equal weight" rating in a report on Wednesday, July 30th. Seven investment analysts have rated the stock with a Buy rating, five have given a Hold rating and four have issued a Sell rating to the company's stock. According to data from MarketBeat, Cheesecake Factory currently has an average rating of "Hold" and an average target price of $61.94.

Insider Activity at Cheesecake Factory

In other Cheesecake Factory 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 value of $2,402,400.00. Following the completion of the sale, the chief financial officer directly owned 40,878 shares in the company, valued at approximately $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 can be accessed through this hyperlink. Also, President David M. Gordon sold 43,335 shares of Cheesecake Factory stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $63.06, for a total value of $2,732,705.10. Following the completion of the sale, the president owned 24,532 shares of the company's stock, valued at $1,546,987.92. The trade was a 63.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 188,723 shares of company stock worth $11,005,819 over the last ninety days. 8.40% of the stock is currently owned by company insiders.

Cheesecake Factory Trading Up 0.9%

Shares of CAKE stock traded up $0.58 during trading hours on Friday, reaching $62.71. 1,057,662 shares of the stock were exchanged, compared to its average volume of 1,632,923. The company has a current ratio of 0.51, a quick ratio of 0.42 and a debt-to-equity ratio of 1.40. The Cheesecake Factory Incorporated has a 12-month low of $35.40 and a 12-month high of $69.70. The firm has a market capitalization of $3.12 billion, a price-to-earnings ratio of 19.30, a price-to-earnings-growth ratio of 1.49 and a beta of 1.17. The company's 50-day moving average price is $62.83 and its 200-day moving average price is $55.32.

Cheesecake Factory (NASDAQ:CAKE - Get Free Report) last announced its earnings results on Tuesday, July 29th. The restaurant operator reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.10. Cheesecake Factory had a return on equity of 45.92% and a net margin of 4.33%.The business had revenue of $955.83 million during the quarter, compared to analyst estimates of $945.82 million. During the same quarter in the previous year, the business earned $1.09 earnings per share. The company's revenue for the quarter was up 5.7% compared to the same quarter last year. As a group, equities analysts anticipate that The Cheesecake Factory Incorporated will post 3.71 earnings per share for the current year.

Cheesecake Factory Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 26th. Investors of record on Tuesday, August 12th will be paid a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Tuesday, August 12th. Cheesecake Factory's dividend payout ratio (DPR) is currently 33.23%.

About Cheesecake Factory

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.