The Cheesecake Factory Incorporated (NASDAQ:CAKE) Shares Sold by Tabor Asset Management LP

Tabor Asset Management LP trimmed its position in shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE) by 21.3% in the fourth quarter, HoldingsChannel reports. The firm owned 25,764 shares of the restaurant operator’s stock after selling 6,968 shares during the period. Tabor Asset Management LP’s holdings in Cheesecake Factory were worth $1,222,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of CAKE. Lido Advisors LLC boosted its position in shares of Cheesecake Factory by 2.0% during the fourth quarter. Lido Advisors LLC now owns 10,805 shares of the restaurant operator’s stock worth $513,000 after buying an additional 215 shares during the period. Summit Investment Advisors Inc. raised its stake in Cheesecake Factory by 4.7% during the 4th quarter. Summit Investment Advisors Inc. now owns 5,051 shares of the restaurant operator’s stock valued at $240,000 after acquiring an additional 228 shares in the last quarter. Truist Financial Corp boosted its position in Cheesecake Factory by 3.3% during the 4th quarter. Truist Financial Corp now owns 8,045 shares of the restaurant operator’s stock worth $382,000 after acquiring an additional 257 shares during the period. Blair William & Co. IL grew its stake in shares of Cheesecake Factory by 5.2% in the fourth quarter. Blair William & Co. IL now owns 5,772 shares of the restaurant operator’s stock worth $274,000 after purchasing an additional 283 shares in the last quarter. Finally, Golden State Wealth Management LLC acquired a new position in shares of Cheesecake Factory during the fourth quarter valued at $25,000. Institutional investors own 94.48% of the company’s stock.

Wall Street Analysts Forecast Growth

CAKE has been the subject of several research analyst reports. Wedbush upped their price objective on shares of Cheesecake Factory from $59.00 to $61.00 and gave the stock an “outperform” rating in a report on Thursday, February 20th. UBS Group upped their price target on shares of Cheesecake Factory from $41.00 to $45.00 and gave the stock a “sell” rating in a research note on Thursday, February 20th. Citigroup decreased their price objective on shares of Cheesecake Factory from $67.00 to $62.00 and set a “buy” rating for the company in a report on Tuesday, April 15th. Robert W. Baird boosted their target price on Cheesecake Factory from $46.00 to $49.00 and gave the stock a “neutral” rating in a report on Thursday, May 1st. Finally, The Goldman Sachs Group upped their target price on Cheesecake Factory from $56.00 to $64.00 and gave the stock a “buy” rating in a research report on Thursday, February 6th. Four equities research analysts have rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $53.60.

Insider Buying and Selling

In other 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 completion of the sale, the chairman now owns 3,092,147 shares in the company, 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 Securities & Exchange Commission, which is available at this link. Also, CFO Matthew Eliot Clark sold 29,000 shares of the firm’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 completion of the sale, the chief financial officer now directly owns 39,856 shares of the company’s stock, valued at approximately $2,134,687.36. This trade represents a 42.12% decrease in their position. The disclosure for this sale can be found here. Company insiders own 8.40% of the company’s stock.

Cheesecake Factory Trading Up 1.9%

Shares of NASDAQ CAKE opened at $56.06 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 $33.50 and a 12 month high of $57.32. The company has a market cap of $2.78 billion, a price-to-earnings ratio of 17.52, a P/E/G ratio of 1.31 and a beta of 1.11. The business has a fifty day simple moving average of $49.08 and a 200-day simple moving average of $49.85.

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

Cheesecake Factory Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 27th. Investors of record on Wednesday, May 14th will be paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date is Wednesday, May 14th. Cheesecake Factory’s dividend payout ratio is 33.86%.

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.