Manatuck Hill Partners LLC Makes New $795,000 Investment in The Cheesecake Factory Incorporated $CAKE

Manatuck Hill Partners LLC bought a new stake in The Cheesecake Factory Incorporated (NASDAQ:CAKE) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 10,000 shares of the restaurant operator’s stock, valued at approximately $795,000.

Several other large investors have also modified their holdings of the business. Allworth Financial LP purchased a new stake in Cheesecake Factory in the 2nd quarter valued at about $36,000. Global Retirement Partners LLC boosted its stake in Cheesecake Factory by 661.7% during the fourth quarter. Global Retirement Partners LLC now owns 716 shares of the restaurant operator’s stock worth $36,000 after buying an additional 622 shares during the period. NFSG Corp increased its position in shares of Cheesecake Factory by 115.8% during the first quarter. NFSG Corp now owns 682 shares of the restaurant operator’s stock valued at $37,000 after acquiring an additional 366 shares during the last quarter. Root Financial Partners LLC increased its position 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 last quarter. Finally, Arax Advisory Partners purchased a new stake in shares of Cheesecake Factory in the 4th quarter valued at approximately $50,000. Institutional investors and hedge funds own 94.48% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on CAKE. Argus upped their price objective on shares of Cheesecake Factory from $72.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Mizuho boosted their target price on Cheesecake Factory from $85.00 to $93.00 and gave the company a “neutral” rating in a research report on Wednesday, July 29th. Oppenheimer upped their price target on Cheesecake Factory from $91.00 to $101.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 29th. Barclays upped their price target on Cheesecake Factory from $58.00 to $60.00 and gave the stock an “underweight” rating in a research note on Thursday, April 30th. Finally, Weiss Ratings raised Cheesecake Factory from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, August 13th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $81.00.

Insiders Place Their Bets

In related news, President David M. Gordon sold 31,950 shares of the business’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $110.03, for a total transaction of $3,515,458.50. Following the completion of the transaction, the president owned 26,875 shares in the company, valued at approximately $2,957,056.25. The trade was a 54.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Janice L. Meyer sold 1,958 shares of the stock in a transaction on Monday, August 17th. The shares were sold at an average price of $109.36, for a total value of $214,126.88. Following the completion of the transaction, the director directly owned 21,251 shares in the company, valued at $2,324,009.36. This trade represents a 8.44% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 216,239 shares of company stock worth $22,463,500. 8.00% of the stock is currently owned by insiders.

Cheesecake Factory Stock Performance

Shares of Cheesecake Factory stock opened at $113.49 on Wednesday. The Cheesecake Factory Incorporated has a one year low of $43.07 and a one year high of $118.46. The company has a market cap of $5.65 billion, a PE ratio of 30.76, a P/E/G ratio of 2.05 and a beta of 1.00. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.52 and a current ratio of 0.59. The business has a 50-day simple moving average of $91.94 and a 200-day simple moving average of $72.28.

Cheesecake Factory (NASDAQ:CAKE) last issued its earnings results on Tuesday, July 28th. The restaurant operator reported $1.44 earnings per share for the quarter, beating the consensus estimate of $1.18 by $0.26. Cheesecake Factory had a net margin of 4.61% and a return on equity of 43.97%. The firm had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $999.54 million. During the same quarter last year, the company earned $1.16 earnings per share. The firm’s revenue was up 7.7% compared to the same quarter last year. On average, equities research analysts forecast that The Cheesecake Factory Incorporated will post 4.47 EPS for the current fiscal year.

Cheesecake Factory Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 25th. Shareholders of record on Tuesday, August 11th were given a $0.30 dividend. The ex-dividend date of this dividend was Tuesday, August 11th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.1%. Cheesecake Factory’s dividend payout ratio is currently 32.52%.

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.