ExodusPoint Capital Management LP Makes New $3.61 Million Investment in The Cheesecake Factory Incorporated (NASDAQ:CAKE)

ExodusPoint Capital Management LP purchased a new position in The Cheesecake Factory Incorporated (NASDAQ:CAKE) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 75,988 shares of the restaurant operator’s stock, valued at approximately $3,605,000. ExodusPoint Capital Management LP owned approximately 0.15% of Cheesecake Factory at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of CAKE. Hennessy Advisors Inc. bought a new stake in Cheesecake Factory during the 4th quarter worth approximately $63,114,000. Wellington Management Group LLP acquired a new position in shares of Cheesecake Factory in the fourth quarter valued at approximately $56,288,000. Victory Capital Management Inc. increased its position in shares of Cheesecake Factory by 166.9% during the fourth quarter. Victory Capital Management Inc. now owns 1,076,347 shares of the restaurant operator’s stock worth $51,062,000 after acquiring an additional 673,076 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in shares of Cheesecake Factory by 322.6% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 382,383 shares of the restaurant operator’s stock worth $18,140,000 after acquiring an additional 291,905 shares during the period. Finally, Ruffer LLP bought a new stake in Cheesecake Factory in the 4th quarter valued at $9,401,000. 94.48% of the stock is currently owned by institutional investors.

Insider Activity

In other Cheesecake Factory news, CFO Matthew Eliot Clark sold 29,000 shares of the company’s stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $53.56, for a total value of $1,553,240.00. Following the transaction, the chief financial officer now directly owns 39,856 shares of the company’s stock, valued at $2,134,687.36. This represents a 42.12 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Chairman David Overton sold 100,000 shares of Cheesecake Factory 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 sale, the chairman now directly owns 3,092,147 shares of the company’s stock, valued at $164,131,162.76. This represents a 3.13 % decrease in their position. The disclosure for this sale can be found here. 8.10% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have issued reports on CAKE shares. UBS Group lifted their price target on Cheesecake Factory from $41.00 to $45.00 and gave the company a “sell” rating in a research note on Thursday, February 20th. Stephens restated an “overweight” rating and issued a $60.00 target price on shares of Cheesecake Factory in a research note on Thursday, February 20th. Wells Fargo & Company raised their price target on shares of Cheesecake Factory from $45.00 to $52.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 20th. Wedbush boosted their price objective on shares of Cheesecake Factory from $59.00 to $61.00 and gave the stock an “outperform” rating in a research report on Thursday, February 20th. Finally, Piper Sandler raised their target price on shares of Cheesecake Factory from $47.00 to $51.00 and gave the company a “neutral” rating in a research report on Thursday, February 20th. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $52.38.

Cheesecake Factory Stock Performance

CAKE opened at $45.68 on Monday. The company has a quick ratio of 0.33, a current ratio of 0.44 and a debt-to-equity ratio of 1.19. The Cheesecake Factory Incorporated has a 12-month low of $33.05 and a 12-month high of $57.32. The business has a 50 day moving average of $51.47 and a 200-day moving average of $48.08. The stock has a market cap of $2.36 billion, a price-to-earnings ratio of 14.28, a PEG ratio of 1.31 and a beta of 1.24.

Cheesecake Factory (NASDAQ:CAKE) last announced its quarterly earnings results on Wednesday, February 19th. The restaurant operator reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.13. The business had revenue of $920.96 million during the quarter, compared to the consensus estimate of $912.67 million. Cheesecake Factory had a return on equity of 45.89% and a net margin of 4.38%. On average, equities research analysts expect that The Cheesecake Factory Incorporated will post 3.71 earnings per share for the current year.

Cheesecake Factory Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Wednesday, March 5th were issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.36%. The ex-dividend date of this dividend was Wednesday, March 5th. Cheesecake Factory’s dividend payout ratio is presently 33.75%.

About Cheesecake Factory

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.