The Cheesecake Factory Incorporated (NASDAQ:CAKE) Stock Position Trimmed by Stifel Financial Corp

Stifel Financial Corp cut its position in The Cheesecake Factory Incorporated (NASDAQ:CAKE) by 3.3% during the 4th quarter, HoldingsChannel reports. The firm owned 76,544 shares of the restaurant operator’s stock after selling 2,604 shares during the quarter. Stifel Financial Corp’s holdings in Cheesecake Factory were worth $3,631,000 as of its most recent filing with the Securities & Exchange Commission.

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

Insider Buying and Selling at Cheesecake Factory

In related news, Chairman David Overton sold 100,000 shares of the stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $53.08, for a total value of $5,308,000.00. Following the completion of 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 document filed with the SEC, which is available at this hyperlink. Also, CFO Matthew Eliot Clark sold 29,000 shares of the stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $53.56, for a total transaction of $1,553,240.00. Following the completion of the transaction, the chief financial officer now directly owns 39,856 shares of the company’s stock, 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. Corporate insiders own 8.10% of the company’s stock.

Cheesecake Factory Trading Down 4.4 %

Shares of NASDAQ:CAKE opened at $48.16 on Friday. The stock has a market capitalization of $2.38 billion, a PE ratio of 15.05, a P/E/G ratio of 1.31 and a beta of 1.24. The Cheesecake Factory Incorporated has a 1 year low of $33.44 and a 1 year high of $57.32. The firm has a fifty day moving average price of $48.83 and a 200 day moving average price of $49.05. The company has a current ratio of 0.44, a quick ratio of 0.33 and a debt-to-equity ratio of 1.19.

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

Cheesecake Factory Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 27th. Shareholders of record on Wednesday, May 14th will be issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 2.24%. The ex-dividend date of this dividend is Wednesday, May 14th. Cheesecake Factory’s dividend payout ratio (DPR) is 33.75%.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Robert W. Baird boosted their price target on shares of Cheesecake Factory from $46.00 to $49.00 and gave the stock a “neutral” rating in a research report on Thursday. Stephens reaffirmed an “overweight” rating and issued a $60.00 price objective on shares of Cheesecake Factory in a research note on Thursday. Piper Sandler lifted their price objective on shares of Cheesecake Factory from $47.00 to $51.00 and gave the stock a “neutral” rating in a research note on Thursday, February 20th. The Goldman Sachs Group lifted their price objective on shares of Cheesecake Factory from $56.00 to $64.00 and gave the stock a “buy” rating in a research note on Thursday, February 6th. Finally, Morgan Stanley lifted their price objective on shares of Cheesecake Factory from $39.00 to $40.00 and gave the stock an “underweight” rating in a research note on Thursday. Four research analysts have rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, Cheesecake Factory has an average rating of “Hold” and a consensus target price of $52.63.

Cheesecake Factory 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.