White Wing Wealth Management Makes New Investment in The Cheesecake Factory Incorporated $CAKE

Key Points

• White Wing Wealth Management acquired a new stake in The Cheesecake Factory, purchasing 5,326 shares valued at approximately $334,000, making it the 25th largest position in their portfolio.
• Several institutional investors, including Deutsche Bank AG and Janus Henderson Group PLC, have significantly increased their holdings in Cheesecake Factory by as much as 44.8% in the recent quarters.
• The Cheesecake Factory reported a quarterly earnings per share (EPS) of $1.16, surpassing expectations, with a planned annual dividend yielding 2.0% declared recently.

White Wing Wealth Management purchased a new stake in The Cheesecake Factory Incorporated (NASDAQ:CAKE - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 5,326 shares of the restaurant operator's stock, valued at approximately $334,000. Cheesecake Factory comprises about 0.2% of White Wing Wealth Management's holdings, making the stock its 25th biggest holding.

Other institutional investors and hedge funds have also bought and sold shares of the company. Redhawk Wealth Advisors Inc. grew its stake in Cheesecake Factory by 295.7% in the 2nd quarter. Redhawk Wealth Advisors Inc. now owns 29,003 shares of the restaurant operator's stock valued at $1,817,000 after purchasing an additional 21,673 shares during the period. Wealth Enhancement Advisory Services LLC lifted its holdings in Cheesecake Factory by 11.6% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 8,329 shares of the restaurant operator's stock worth $547,000 after purchasing an additional 864 shares in the last quarter. Harbor Capital Advisors Inc. lifted its holdings in Cheesecake Factory by 23.8% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 13,337 shares of the restaurant operator's stock worth $836,000 after purchasing an additional 2,567 shares in the last quarter. Inspire Investing LLC lifted its holdings in Cheesecake Factory by 156.2% during the 1st quarter. Inspire Investing LLC now owns 24,406 shares of the restaurant operator's stock worth $1,188,000 after purchasing an additional 14,880 shares in the last quarter. Finally, Rhumbline Advisers lifted its holdings in Cheesecake Factory by 0.5% during the 1st quarter. Rhumbline Advisers now owns 134,328 shares of the restaurant operator's stock worth $6,536,000 after purchasing an additional 656 shares in the last quarter. 94.48% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. UBS Group increased their price objective on Cheesecake Factory from $45.00 to $50.00 and gave the stock a "sell" rating in a report on Friday, July 18th. Barclays raised their price target on Cheesecake Factory from $57.00 to $62.00 and gave the company an "underweight" rating in a report on Wednesday, July 30th. Wells Fargo & Company raised 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. Piper Sandler raised 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. Finally, JPMorgan Chase & Co. raised their price target on Cheesecake Factory from $50.00 to $58.00 and gave the company an "underweight" rating in a report on Wednesday, June 25th. Seven analysts have rated the stock with a Buy rating, five have given a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat.com, Cheesecake Factory has an average rating of "Hold" and an average price target of $61.94.

Insider Buying and Selling

In other news, Director Alexander L. Cappello sold 12,388 shares of the stock in a transaction that occurred on Thursday, July 31st. The stock was sold at an average price of $65.88, for a total value of $816,121.44. Following the sale, the director directly owned 6,806 shares in the company, valued at approximately $448,379.28. This represents a 64.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, President David M. Gordon sold 43,335 shares of the stock in a transaction that occurred on Thursday, August 14th. The stock was 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 in the company, valued at approximately $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. 8.10% of the stock is currently owned by corporate insiders.

Cheesecake Factory Stock Performance

Cheesecake Factory stock traded down $0.13 during mid-day trading on Tuesday, reaching $53.77. 262,999 shares of the stock traded hands, compared to its average volume of 1,436,561. The stock has a market capitalization of $2.68 billion, a PE ratio of 16.55, a price-to-earnings-growth ratio of 1.30 and a beta of 1.10. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.51 and a quick ratio of 0.42. The Cheesecake Factory Incorporated has a 12-month low of $38.40 and a 12-month high of $69.70. The business's 50-day moving average is $61.45 and its 200-day moving average is $56.23.

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

Cheesecake Factory Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 26th. Investors of record on Tuesday, August 12th were paid a dividend of $0.27 per share. The ex-dividend date of this dividend was Tuesday, August 12th. This represents a $1.08 dividend on an annualized basis and a yield of 2.0%. Cheesecake Factory's dividend payout ratio is presently 33.23%.

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.