David Overton Sells 94,145 Shares of Cheesecake Factory (NASDAQ:CAKE) Stock

The Cheesecake Factory Incorporated (NASDAQ:CAKE) Chairman David Overton sold 94,145 shares of the business’s stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $106.27, for a total transaction of $10,004,789.15. Following the transaction, the chairman owned 89,805 shares in the company, valued at approximately $9,543,577.35. The trade was a 51.18% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Cheesecake Factory Stock Down 0.2%

NASDAQ CAKE opened at $107.05 on Friday. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.53 and a current ratio of 0.59. The firm has a 50-day simple moving average of $81.78 and a 200 day simple moving average of $67.77. The Cheesecake Factory Incorporated has a twelve month low of $43.07 and a twelve month high of $107.95. The stock has a market cap of $5.33 billion, a PE ratio of 29.01, a PEG ratio of 1.94 and a beta of 1.00.

Cheesecake Factory (NASDAQ:CAKE) last issued its quarterly earnings results on Tuesday, July 28th. The restaurant operator reported $1.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.18 by $0.26. The firm had revenue of $1.03 billion for the quarter, compared to analyst estimates of $999.54 million. Cheesecake Factory had a return on equity of 43.97% and a net margin of 4.61%.The company’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.16 earnings per share. On average, research analysts forecast that The Cheesecake Factory Incorporated will post 4.43 EPS for the current year.

Cheesecake Factory Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 25th. Stockholders of record on Tuesday, August 11th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Tuesday, August 11th. Cheesecake Factory’s dividend payout ratio (DPR) is presently 32.52%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on CAKE shares. Stephens reaffirmed a “positive” rating on shares of Cheesecake Factory in a research report on Wednesday, July 29th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $68.00 price target on shares of Cheesecake Factory in a report on Thursday, April 30th. JPMorgan Chase & Co. raised shares of Cheesecake Factory from an “underweight” rating to a “neutral” rating and raised their price objective for the stock from $58.00 to $68.00 in a report on Thursday, May 14th. Zacks Research upgraded shares of Cheesecake Factory from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 30th. Finally, Northcoast Research cut shares of Cheesecake Factory from a “buy” rating to a “neutral” rating in a research note on Monday, June 15th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Cheesecake Factory currently has an average rating of “Hold” and a consensus target price of $81.00.

Hedge Funds Weigh In On Cheesecake Factory

A number of institutional investors have recently modified their holdings of CAKE. Invesco Ltd. increased its holdings in shares of Cheesecake Factory by 13.6% in the fourth quarter. Invesco Ltd. now owns 2,337,671 shares of the restaurant operator’s stock valued at $118,006,000 after purchasing an additional 280,553 shares in the last quarter. State Street Corp boosted its position in Cheesecake Factory by 0.3% in the 4th quarter. State Street Corp now owns 1,785,955 shares of the restaurant operator’s stock valued at $90,155,000 after buying an additional 4,535 shares during the last quarter. Victory Capital Management Inc. boosted its position in Cheesecake Factory by 16.4% in the 4th quarter. Victory Capital Management Inc. now owns 1,474,320 shares of the restaurant operator’s stock valued at $74,424,000 after buying an additional 207,788 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Cheesecake Factory by 2.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,242,143 shares of the restaurant operator’s stock valued at $68,008,000 after buying an additional 29,037 shares during the period. Finally, Geode Capital Management LLC raised its position in shares of Cheesecake Factory by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 1,152,174 shares of the restaurant operator’s stock worth $58,170,000 after acquiring an additional 4,577 shares during the last quarter. 94.48% of the stock is owned by institutional investors.

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.