The Cheesecake Factory Incorporated $CAKE Stock Position Cut by Delphi Management Inc. MA

Delphi Management Inc. MA decreased its stake in shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE) by 29.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 20,983 shares of the restaurant operator’s stock after selling 8,603 shares during the period. Delphi Management Inc. MA’s holdings in Cheesecake Factory were worth $1,149,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Salomon & Ludwin LLC lifted its stake in shares of Cheesecake Factory by 226.5% in the 4th quarter. Salomon & Ludwin LLC now owns 604 shares of the restaurant operator’s stock worth $33,000 after acquiring an additional 419 shares during the period. Global Retirement Partners LLC increased its stake in shares of Cheesecake Factory by 661.7% during the fourth quarter. Global Retirement Partners LLC now owns 716 shares of the restaurant operator’s stock valued at $36,000 after acquiring an additional 622 shares during the period. Root Financial Partners LLC increased its stake in shares of Cheesecake Factory by 973.2% during the fourth quarter. Root Financial Partners LLC now owns 880 shares of the restaurant operator’s stock valued at $44,000 after acquiring an additional 798 shares during the period. Arax Advisory Partners bought a new stake in Cheesecake Factory during the fourth quarter worth approximately $50,000. Finally, Quarry LP raised its holdings in Cheesecake Factory by 3,343.8% during the third quarter. Quarry LP now owns 1,102 shares of the restaurant operator’s stock worth $60,000 after purchasing an additional 1,070 shares in the last quarter. 94.48% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CAKE has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $68.00 target price on shares of Cheesecake Factory in a research report on Thursday, April 30th. Wells Fargo & Company boosted their price objective on Cheesecake Factory from $60.00 to $65.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 30th. Weiss Ratings lowered Cheesecake Factory from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday. Northcoast Research lowered Cheesecake Factory from a “buy” rating to a “neutral” rating in a report on Monday, June 15th. Finally, Oppenheimer raised their target price on Cheesecake Factory from $68.00 to $72.00 and gave the company an “outperform” rating in a research note on Tuesday, April 21st. Five investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, Cheesecake Factory currently has an average rating of “Hold” and an average price target of $64.94.

Insider Buying and Selling

In related news, Chairman David Overton sold 104,000 shares of the firm’s stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $61.02, for a total value of $6,346,080.00. Following the completion of the transaction, the chairman owned 3,079,779 shares of the company’s stock, valued at approximately $187,928,114.58. This trade represents a 3.27% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Alexander L. Cappello sold 2,490 shares of Cheesecake Factory stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $64.90, for a total transaction of $161,601.00. Following the transaction, the director owned 6,171 shares in the company, valued at approximately $400,497.90. The trade was a 28.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 8.00% of the company’s stock.

Cheesecake Factory Price Performance

NASDAQ CAKE opened at $78.17 on Thursday. The stock’s 50-day moving average price is $65.18 and its two-hundred day moving average price is $60.06. The company has a current ratio of 0.59, a quick ratio of 0.53 and a debt-to-equity ratio of 1.22. The company has a market cap of $3.88 billion, a PE ratio of 22.86, a PEG ratio of 1.85 and a beta of 1.04. The Cheesecake Factory Incorporated has a 1 year low of $43.07 and a 1 year high of $78.87.

Cheesecake Factory (NASDAQ:CAKE) last announced its earnings results on Wednesday, April 29th. The restaurant operator reported $1.05 EPS for the quarter, topping the consensus estimate of $1.03 by $0.02. Cheesecake Factory had a net margin of 4.34% and a return on equity of 43.74%. The company had revenue of $978.83 million during the quarter, compared to analysts’ expectations of $964.57 million. During the same period last year, the company posted $0.93 earnings per share. The business’s revenue for the quarter was up 5.6% on a year-over-year basis. On average, analysts predict that The Cheesecake Factory Incorporated will post 4.01 EPS for the current year.

Cheesecake Factory Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 26th. Investors of record on Wednesday, May 13th were given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.5%. The ex-dividend date was Wednesday, May 13th. Cheesecake Factory’s dividend payout ratio is 35.09%.

Cheesecake Factory Company Profile

The Cheesecake Factory Incorporated (NASDAQ:CAKE) is an American restaurant company and distributor renowned for its full-service casual-dining concept and specialty cheesecakes. Headquartered in Calabasas Hills, California, the company operates more than 200 restaurants under The Cheesecake Factory® brand across the United States, Puerto Rico and select international markets. In addition to sit-down dining, Cheesecake Factory franchised locations offer catering and take-out services, while a separate manufacturing arm supplies branded cheesecakes and desserts to supermarkets, hotels and other foodservice operators.

The origins of the brand trace back to a small cheesecake bakery founded in Detroit in the 1940s.