HighTower Advisors LLC raised its holdings in The Cheesecake Factory Incorporated (NASDAQ:CAKE – Free Report) by 1.7% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 40,665 shares of the restaurant operator’s stock after acquiring an additional 676 shares during the quarter. HighTower Advisors LLC’s holdings in Cheesecake Factory were worth $1,929,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in the business. Truist Financial Corp lifted its stake in Cheesecake Factory by 3.3% in the fourth quarter. Truist Financial Corp now owns 8,045 shares of the restaurant operator’s stock valued at $382,000 after buying an additional 257 shares during the period. Versant Capital Management Inc lifted its stake in Cheesecake Factory by 108.1% in the fourth quarter. Versant Capital Management Inc now owns 616 shares of the restaurant operator’s stock valued at $29,000 after buying an additional 320 shares during the period. Pathstone Holdings LLC lifted its stake in Cheesecake Factory by 0.9% in the third quarter. Pathstone Holdings LLC now owns 37,540 shares of the restaurant operator’s stock valued at $1,522,000 after buying an additional 329 shares during the period. Golden State Wealth Management LLC acquired a new position in Cheesecake Factory in the fourth quarter valued at approximately $25,000. Finally, KBC Group NV lifted its stake in Cheesecake Factory by 46.9% in the fourth quarter. KBC Group NV now owns 2,321 shares of the restaurant operator’s stock valued at $110,000 after buying an additional 741 shares during the period. 94.48% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling at Cheesecake Factory
In related news, Chairman David Overton sold 100,000 shares of the stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $53.08, for a total value of $5,308,000.00. Following the transaction, the chairman now owns 3,092,147 shares of the company’s stock, valued at $164,131,162.76. This represents a 3.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Matthew Eliot Clark sold 29,000 shares of the stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $53.56, for a total value of $1,553,240.00. Following the completion of the transaction, the chief financial officer now directly owns 39,856 shares in the company, valued at $2,134,687.36. This trade represents a 42.12 % decrease in their position. The disclosure for this sale can be found here. 8.10% of the stock is owned by corporate insiders.
Analyst Ratings Changes
CAKE has been the subject of several recent research reports. The Goldman Sachs Group boosted their price objective on Cheesecake Factory from $56.00 to $64.00 and gave the company a “buy” rating in a report on Thursday, February 6th. StockNews.com downgraded Cheesecake Factory from a “buy” rating to a “hold” rating in a report on Thursday, November 28th. Robert W. Baird boosted their price objective on Cheesecake Factory from $52.00 to $57.00 and gave the company a “neutral” rating in a report on Thursday, February 20th. Stephens restated an “overweight” rating and set a $60.00 price objective on shares of Cheesecake Factory in a report on Thursday, February 20th. Finally, Wells Fargo & Company boosted their price objective on Cheesecake Factory from $45.00 to $52.00 and gave the company an “equal weight” rating in a report on Thursday, February 20th. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $52.81.
Check Out Our Latest Stock Report on CAKE
Cheesecake Factory Stock Performance
NASDAQ CAKE opened at $48.70 on Monday. The Cheesecake Factory Incorporated has a fifty-two week low of $33.05 and a fifty-two week high of $57.32. The stock has a 50-day simple moving average of $51.50 and a two-hundred day simple moving average of $47.21. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.33 and a current ratio of 0.44. The firm has a market capitalization of $2.52 billion, a P/E ratio of 15.22, a PEG ratio of 1.31 and a beta of 1.55.
Cheesecake Factory (NASDAQ:CAKE – Get Free Report) last posted its quarterly earnings data on Wednesday, February 19th. The restaurant operator reported $1.04 EPS for the quarter, topping the consensus estimate of $0.91 by $0.13. The company had revenue of $920.96 million during the quarter, compared to analyst estimates of $912.67 million. Cheesecake Factory had a return on equity of 45.89% and a net margin of 4.38%. On average, equities analysts forecast that The Cheesecake Factory Incorporated will post 3.71 earnings per share for the current year.
Cheesecake Factory Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Wednesday, March 5th were given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date of this dividend was Wednesday, March 5th. Cheesecake Factory’s payout ratio is 33.75%.
About Cheesecake Factory
(Free Report)
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.
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