Voloridge Investment Management LLC Boosts Stock Holdings in The Cheesecake Factory Incorporated (NASDAQ:CAKE)

Voloridge Investment Management LLC raised its holdings in The Cheesecake Factory Incorporated (NASDAQ:CAKE - Free Report) by 42.7% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 489,570 shares of the restaurant operator's stock after acquiring an additional 146,469 shares during the quarter. Voloridge Investment Management LLC owned approximately 0.96% of Cheesecake Factory worth $23,225,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Lido Advisors LLC grew its stake in shares of Cheesecake Factory by 2.0% in the fourth quarter. Lido Advisors LLC now owns 10,805 shares of the restaurant operator's stock worth $513,000 after purchasing an additional 215 shares during the last quarter. Summit Investment Advisors Inc. raised its position in Cheesecake Factory by 4.7% during the 4th quarter. Summit Investment Advisors Inc. now owns 5,051 shares of the restaurant operator's stock worth $240,000 after purchasing an additional 228 shares during the last quarter. Truist Financial Corp lifted its holdings in Cheesecake Factory by 3.3% during the 4th quarter. Truist Financial Corp now owns 8,045 shares of the restaurant operator's stock worth $382,000 after buying an additional 257 shares during the period. Blair William & Co. IL grew its position in shares of Cheesecake Factory by 5.2% in the 4th quarter. Blair William & Co. IL now owns 5,772 shares of the restaurant operator's stock valued at $274,000 after buying an additional 283 shares during the last quarter. Finally, Golden State Wealth Management LLC acquired a new stake in shares of Cheesecake Factory in the fourth quarter valued at about $25,000. 94.48% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CFO Matthew Eliot Clark sold 29,000 shares of the stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $53.56, for a total value of $1,553,240.00. Following the completion of the sale, the chief financial officer now directly owns 39,856 shares of the company's stock, valued at $2,134,687.36. This represents a 42.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman David Overton sold 100,000 shares of the firm's stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $53.08, for a total value of $5,308,000.00. Following the completion of the transaction, the chairman now owns 3,092,147 shares in the company, valued at $164,131,162.76. This represents a 3.13% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 8.40% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on CAKE. Robert W. Baird upped their target price on Cheesecake Factory from $46.00 to $49.00 and gave the company a "neutral" rating in a report on Thursday, May 1st. UBS Group boosted their price target on shares of Cheesecake Factory from $41.00 to $45.00 and gave the stock a "sell" rating in a research report on Thursday, February 20th. JPMorgan Chase & Co. reduced their price objective on shares of Cheesecake Factory from $55.00 to $48.00 and set an "underweight" rating on the stock in a research note on Thursday, March 20th. Wedbush lifted their target price on shares of Cheesecake Factory from $59.00 to $61.00 and gave the stock an "outperform" rating in a research note on Thursday, February 20th. Finally, Barclays dropped their target price on shares of Cheesecake Factory from $50.00 to $46.00 and set an "underweight" rating on the stock in a report on Tuesday, April 22nd. Four equities research analysts have rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, Cheesecake Factory currently has a consensus rating of "Hold" and an average target price of $54.00.

Cheesecake Factory Stock Up 6.3%

Shares of CAKE traded up $3.31 during trading hours on Tuesday, hitting $55.89. The stock had a trading volume of 391,454 shares, compared to its average volume of 1,190,818. The Cheesecake Factory Incorporated has a 1-year low of $33.50 and a 1-year high of $57.32. The firm has a market capitalization of $2.77 billion, a P/E ratio of 17.48, a price-to-earnings-growth ratio of 1.31 and a beta of 1.11. The firm has a 50 day simple moving average of $49.82 and a 200-day simple moving average of $50.11. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.44 and a quick ratio of 0.33.

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

Cheesecake Factory Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 27th. Shareholders of record on Wednesday, May 14th will be paid a dividend of $0.27 per share. The ex-dividend date of this dividend is Wednesday, May 14th. This represents a $1.08 dividend on an annualized basis and a yield of 1.93%. Cheesecake Factory's dividend payout ratio (DPR) is presently 33.86%.

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.