Matthew Eliot Clark Sells 42,900 Shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE) Stock

The Cheesecake Factory Incorporated (NASDAQ:CAKE - Get Free Report) CFO Matthew Eliot Clark sold 42,900 shares of the firm's stock in a transaction that occurred 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 sale, the chief financial officer now owns 40,878 shares of the company's stock, valued at approximately $2,289,168. This represents a 51.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Cheesecake Factory Stock Performance

CAKE stock traded down $0.92 during mid-day trading on Friday, reaching $54.69. 1,152,877 shares of the stock traded hands, compared to its average volume of 1,198,079. 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 Cheesecake Factory Incorporated has a 52 week low of $33.50 and a 52 week high of $57.32. The business has a 50-day moving average of $50.26 and a two-hundred day moving average of $50.29. The firm has a market capitalization of $2.71 billion, a PE ratio of 17.09, a P/E/G ratio of 1.31 and a beta of 1.11.

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

Cheesecake Factory Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 27th. Stockholders of record on Wednesday, May 14th were paid a $0.27 dividend. The ex-dividend date was Wednesday, May 14th. This represents a $1.08 annualized dividend and a dividend yield of 1.97%. Cheesecake Factory's payout ratio is 33.86%.

Analysts Set New Price Targets

CAKE has been the topic of several recent research reports. UBS Group raised their price objective on shares of Cheesecake Factory from $41.00 to $45.00 and gave the company a "sell" rating in a research report on Thursday, February 20th. Morgan Stanley raised their price objective on shares of Cheesecake Factory from $39.00 to $40.00 and gave the company an "underweight" rating in a research report on Thursday, May 1st. Robert W. Baird raised their price objective on shares of Cheesecake Factory from $46.00 to $49.00 and gave the company a "neutral" rating in a research report on Thursday, May 1st. JPMorgan Chase & Co. cut 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 report on Thursday, March 20th. Finally, Citigroup cut their price objective on shares of Cheesecake Factory from $67.00 to $62.00 and set a "buy" rating on the stock in a research report on Tuesday, April 15th. Four investment analysts have rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $54.00.

Institutional Investors Weigh In On Cheesecake Factory

Hedge funds and other institutional investors have recently modified their holdings of the stock. Golden State Wealth Management LLC acquired a new stake in shares of Cheesecake Factory in the fourth quarter worth $25,000. SBI Securities Co. Ltd. acquired a new stake in shares of Cheesecake Factory in the fourth quarter worth $43,000. USA Financial Formulas acquired a new stake in shares of Cheesecake Factory in the first quarter worth $49,000. Venturi Wealth Management LLC grew its stake in shares of Cheesecake Factory by 1,149.5% in the fourth quarter. Venturi Wealth Management LLC now owns 1,312 shares of the restaurant operator's stock worth $62,000 after acquiring an additional 1,207 shares during the last quarter. Finally, Bayforest Capital Ltd acquired a new stake in shares of Cheesecake Factory in the first quarter worth $72,000. Institutional investors and hedge funds own 94.48% of the company's stock.

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.