1,005 Shares in The Cheesecake Factory Incorporated (NASDAQ:CAKE) Bought by USA Financial Formulas

USA Financial Formulas bought a new position in The Cheesecake Factory Incorporated (NASDAQ:CAKE) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 1,005 shares of the restaurant operator’s stock, valued at approximately $49,000.

Several other large investors have also made changes to their positions in CAKE. Wellington Management Group LLP purchased a new position in shares of Cheesecake Factory in the 4th quarter worth $56,288,000. Victory Capital Management Inc. raised its position in Cheesecake Factory by 166.9% in the fourth quarter. Victory Capital Management Inc. now owns 1,076,347 shares of the restaurant operator’s stock valued at $51,062,000 after purchasing an additional 673,076 shares during the period. Junto Capital Management LP purchased a new position in Cheesecake Factory in the fourth quarter valued at about $21,827,000. JCP Investment Management LLC raised its position in Cheesecake Factory by 181.3% in the fourth quarter. JCP Investment Management LLC now owns 667,210 shares of the restaurant operator’s stock valued at $31,652,000 after purchasing an additional 430,000 shares during the period. Finally, Arrowstreet Capital Limited Partnership raised its position in Cheesecake Factory by 322.6% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 382,383 shares of the restaurant operator’s stock valued at $18,140,000 after purchasing an additional 291,905 shares during the period. 94.48% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Cheesecake Factory

In other news, CFO Matthew Eliot Clark sold 42,900 shares of the 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 directly owns 40,878 shares in the company, valued at approximately $2,289,168. This represents a 51.21% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Keith Carango sold 50,500 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the insider now owns 20,774 shares in the company, valued at approximately $1,145,062.88. This represents a 70.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 133,000 shares of company stock worth $7,456,992. 8.40% of the stock is currently owned by company insiders.

Cheesecake Factory Trading Up 0.5%

Shares of NASDAQ CAKE opened at $57.61 on Thursday. The stock’s 50 day moving average price is $51.51 and its two-hundred day moving average price is $50.84. The Cheesecake Factory Incorporated has a 52-week low of $33.50 and a 52-week high of $59.45. The stock has a market capitalization of $2.85 billion, a P/E ratio of 18.00, a PEG ratio of 1.31 and a beta of 1.14. The company has a quick ratio of 0.33, a current ratio of 0.44 and a debt-to-equity ratio of 1.19.

Cheesecake Factory (NASDAQ:CAKE) last announced its quarterly earnings results on Wednesday, April 30th. The restaurant operator reported $0.93 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.12. The business had revenue of $927.20 million for the quarter, compared to analysts’ expectations of $927.17 million. Cheesecake Factory had a return on equity of 45.89% and a net margin of 4.38%. The business’s quarterly revenue was up 4.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.73 EPS. On average, analysts anticipate that The Cheesecake Factory Incorporated will post 3.71 earnings per share for the current fiscal year.

Cheesecake Factory Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research analysts have commented on CAKE shares. William Blair reissued an “outperform” rating on shares of Cheesecake Factory in a research report on Thursday, February 20th. UBS Group increased their price target on Cheesecake Factory from $41.00 to $45.00 and gave the company a “sell” rating in a report on Thursday, February 20th. Stephens reissued an “overweight” rating and issued a $60.00 price target on shares of Cheesecake Factory in a report on Thursday, May 1st. Wedbush increased their price target on Cheesecake Factory from $59.00 to $61.00 and gave the company an “outperform” rating in a report on Thursday, February 20th. Finally, Wells Fargo & Company increased their price target on Cheesecake Factory from $45.00 to $50.00 and gave the company an “equal weight” rating in a report on Thursday, May 1st. Four equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, Cheesecake Factory has an average rating of “Hold” and an average price target 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.