Wellington Management Group LLP Purchases New Position in The Cheesecake Factory Incorporated (NASDAQ:CAKE)

Wellington Management Group LLP bought a new stake in The Cheesecake Factory Incorporated (NASDAQ:CAKE - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 1,186,511 shares of the restaurant operator's stock, valued at approximately $56,288,000. Wellington Management Group LLP owned 2.30% of Cheesecake Factory as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC raised its stake in Cheesecake Factory by 5.8% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 7,049 shares of the restaurant operator's stock valued at $334,000 after buying an additional 386 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Cheesecake Factory by 15.6% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 101,208 shares of the restaurant operator's stock valued at $4,801,000 after buying an additional 13,678 shares during the last quarter. Voloridge Investment Management LLC raised its stake in shares of Cheesecake Factory by 42.7% in the fourth quarter. Voloridge Investment Management LLC now owns 489,570 shares of the restaurant operator's stock worth $23,225,000 after purchasing an additional 146,469 shares during the last quarter. Twinbeech Capital LP purchased a new position in shares of Cheesecake Factory in the fourth quarter worth $1,500,000. Finally, State of Wyoming raised its stake in shares of Cheesecake Factory by 21.2% in the fourth quarter. State of Wyoming now owns 8,215 shares of the restaurant operator's stock worth $390,000 after purchasing an additional 1,435 shares during the last quarter. Hedge funds and other institutional investors own 94.48% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on CAKE. UBS Group boosted their price target on Cheesecake Factory from $41.00 to $45.00 and gave the stock a "sell" rating in a research note on Thursday, February 20th. The Goldman Sachs Group lifted their price objective on Cheesecake Factory from $56.00 to $64.00 and gave the stock a "buy" rating in a report on Thursday, February 6th. Robert W. Baird lifted their price objective on Cheesecake Factory from $46.00 to $49.00 and gave the stock a "neutral" rating in a report on Thursday, May 1st. Wells Fargo & Company lifted their price objective on Cheesecake Factory from $45.00 to $50.00 and gave the stock an "equal weight" rating in a report on Thursday, May 1st. Finally, JPMorgan Chase & Co. cut their price objective on Cheesecake Factory from $55.00 to $48.00 and set an "underweight" rating for the company in a report on Thursday, March 20th. Four equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $54.00.

Insiders Place Their Bets

In other Cheesecake Factory news, EVP Scarlett May sold 20,800 shares of Cheesecake Factory stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $56.02, for a total transaction of $1,165,216.00. Following the completion of the transaction, the executive vice president now owns 22,872 shares in the company, valued at approximately $1,281,289.44. This trade represents a 47.63% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Keith Carango sold 50,500 shares of Cheesecake Factory stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $55.12, for a total value of $2,783,560.00. Following the transaction, the insider now owns 20,774 shares of the company's stock, valued at $1,145,062.88. The trade was a 70.85% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 114,200 shares of company stock valued at $6,351,176. 8.40% of the stock is owned by company insiders.

Cheesecake Factory Stock Up 1.0%

Shares of Cheesecake Factory stock traded up $0.56 during trading on Monday, reaching $55.73. The company's stock had a trading volume of 648,875 shares, compared to its average volume of 1,197,424. The company has a 50-day simple moving average of $50.26 and a two-hundred day simple moving average of $50.31. The Cheesecake Factory Incorporated has a 1-year low of $33.50 and a 1-year high of $57.32. The company has a quick ratio of 0.33, a current ratio of 0.44 and a debt-to-equity ratio of 1.19. The company has a market cap of $2.76 billion, a price-to-earnings ratio of 17.42, a P/E/G 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, topping 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 analysts' expectations of $927.17 million. During the same quarter in the previous year, the firm posted $0.73 EPS. The firm's revenue was up 4.0% compared to the same quarter last year. As a group, equities analysts forecast that The Cheesecake Factory Incorporated will post 3.71 earnings per share for the current year.

Cheesecake Factory Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 27th. Shareholders of record on Wednesday, May 14th were given a dividend of $0.27 per share. The ex-dividend date of this dividend was Wednesday, May 14th. This represents a $1.08 dividend on an annualized basis and a yield of 1.94%. Cheesecake Factory's dividend payout ratio is currently 33.86%.

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.