The Cheesecake Factory Incorporated (NASDAQ:CAKE) EVP Scarlett May Sells 18,800 Shares

The Cheesecake Factory Incorporated (NASDAQ:CAKE) EVP Scarlett May sold 18,800 shares of the business’s stock in a transaction on Monday, June 9th. The shares were sold at an average price of $58.82, for a total transaction of $1,105,816.00. Following the transaction, the executive vice president now owns 22,872 shares of the company’s stock, valued at $1,345,331.04. This trade represents a 45.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Scarlett May also recently made the following trade(s):

• On Thursday, May 29th, Scarlett May sold 20,800 shares of Cheesecake Factory stock. The stock was sold at an average price of $56.02, for a total transaction of $1,165,216.00.

Cheesecake Factory Stock Performance

Shares of NASDAQ:CAKE opened at $57.61 on Thursday. The company has a market cap of $2.85 billion, a price-to-earnings ratio of 18.00, a price-to-earnings-growth ratio of 1.31 and a beta of 1.14. The company has a 50-day moving average price of $51.51 and a 200-day moving average price of $50.84. The company has a current ratio of 0.44, a quick ratio of 0.33 and a debt-to-equity ratio of 1.19. The Cheesecake Factory Incorporated has a 12 month low of $33.50 and a 12 month high of $59.45.

Cheesecake Factory (NASDAQ:CAKE) last issued its quarterly earnings data on Wednesday, April 30th. The restaurant operator reported $0.93 EPS for the quarter, beating the consensus estimate of $0.81 by $0.12. The firm had revenue of $927.20 million during the quarter, compared to the consensus estimate of $927.17 million. Cheesecake Factory had a net margin of 4.38% and a return on equity of 45.89%. The company’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.73 earnings per share. As a group, equities analysts anticipate that The Cheesecake Factory Incorporated will post 3.71 EPS for the current year.

Cheesecake Factory Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 27th. Stockholders of record on Wednesday, May 14th were paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 1.87%. The ex-dividend date of this dividend was Wednesday, May 14th. Cheesecake Factory’s dividend payout ratio (DPR) is 33.86%.

Hedge Funds Weigh In On Cheesecake Factory

Several hedge funds and other institutional investors have recently modified their holdings of CAKE. Wellington Management Group LLP raised its stake in shares of Cheesecake Factory by 156.7% during the first quarter. Wellington Management Group LLP now owns 3,045,705 shares of the restaurant operator’s stock valued at $148,204,000 after acquiring an additional 1,859,194 shares during the last quarter. Westwood Holdings Group Inc. bought a new position in Cheesecake Factory in the first quarter worth about $75,795,000. Invesco Ltd. raised its stake in Cheesecake Factory by 83.5% in the first quarter. Invesco Ltd. now owns 2,591,205 shares of the restaurant operator’s stock worth $126,088,000 after buying an additional 1,178,722 shares in the last quarter. Driehaus Capital Management LLC bought a new position in Cheesecake Factory in the first quarter worth about $47,720,000. Finally, Victory Capital Management Inc. raised its stake in Cheesecake Factory by 64.1% in the first quarter. Victory Capital Management Inc. now owns 1,766,131 shares of the restaurant operator’s stock worth $85,940,000 after buying an additional 689,784 shares in the last quarter. 94.48% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Citigroup cut their target price on shares of Cheesecake Factory from $67.00 to $62.00 and set a “buy” rating for the company in a research report on Tuesday, April 15th. Barclays cut their target price on shares of Cheesecake Factory from $50.00 to $46.00 and set an “underweight” rating for the company in a research report on Tuesday, April 22nd. Stephens reiterated an “overweight” rating and issued a $60.00 target price on shares of Cheesecake Factory in a research report on Thursday, May 1st. Piper Sandler upped their target price on shares of Cheesecake Factory from $47.00 to $51.00 and gave the stock a “neutral” rating in a research report on Thursday, February 20th. Finally, UBS Group upped their target price 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. 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, Cheesecake Factory has a consensus rating of “Hold” and a consensus target price of $54.00.

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.