Elevation Point Wealth Partners LLC Buys Shares of 13,126 The Cheesecake Factory Incorporated $CAKE

Elevation Point Wealth Partners LLC bought a new stake in The Cheesecake Factory Incorporated (NASDAQ:CAKE) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 13,126 shares of the restaurant operator’s stock, valued at approximately $719,000.

A number of other institutional investors have also recently made changes to their positions in the company. Woodline Partners LP increased its position in shares of Cheesecake Factory by 1,059.3% during the third quarter. Woodline Partners LP now owns 618,056 shares of the restaurant operator’s stock worth $33,771,000 after purchasing an additional 564,744 shares in the last quarter. Invesco Ltd. boosted its stake in Cheesecake Factory by 24.7% during the 3rd quarter. Invesco Ltd. now owns 2,057,118 shares of the restaurant operator’s stock worth $112,401,000 after purchasing an additional 407,223 shares during the last quarter. Millennium Management LLC grew its holdings in shares of Cheesecake Factory by 214.3% during the fourth quarter. Millennium Management LLC now owns 512,085 shares of the restaurant operator’s stock worth $25,850,000 after buying an additional 349,168 shares in the last quarter. Engineers Gate Manager LP grew its holdings in shares of Cheesecake Factory by 1,583.7% during the fourth quarter. Engineers Gate Manager LP now owns 287,219 shares of the restaurant operator’s stock worth $14,499,000 after buying an additional 270,160 shares in the last quarter. Finally, Voloridge Investment Management LLC raised its position in shares of Cheesecake Factory by 54.0% in the third quarter. Voloridge Investment Management LLC now owns 747,046 shares of the restaurant operator’s stock valued at $40,819,000 after buying an additional 262,081 shares during the last quarter. 94.48% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Wells Fargo & Company raised their price target on shares of Cheesecake Factory from $60.00 to $65.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 30th. Weiss Ratings downgraded shares of Cheesecake Factory from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, June 23rd. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $68.00 target price on shares of Cheesecake Factory in a research note on Thursday, April 30th. JPMorgan Chase & Co. upgraded Cheesecake Factory from an “underweight” rating to a “neutral” rating and boosted their target price for the stock from $58.00 to $68.00 in a report on Thursday, May 14th. Finally, Northcoast Research lowered Cheesecake Factory from a “buy” rating to a “neutral” rating in a research report on Monday, June 15th. Five equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $66.29.

Cheesecake Factory Trading Up 1.1%

Shares of CAKE stock opened at $77.74 on Wednesday. The company has a current ratio of 0.59, a quick ratio of 0.53 and a debt-to-equity ratio of 1.22. The Cheesecake Factory Incorporated has a twelve month low of $43.07 and a twelve month high of $80.93. The company’s 50-day moving average price is $68.27 and its 200-day moving average price is $61.98. The stock has a market cap of $3.86 billion, a price-to-earnings ratio of 22.73, a PEG ratio of 1.85 and a beta of 1.01.

Cheesecake Factory (NASDAQ:CAKE) last issued its earnings results on Wednesday, April 29th. The restaurant operator reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $1.03 by $0.02. The company had revenue of $978.83 million for the quarter, compared to the consensus estimate of $964.57 million. Cheesecake Factory had a net margin of 4.34% and a return on equity of 43.74%. Cheesecake Factory’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.93 earnings per share. As a group, equities analysts predict that The Cheesecake Factory Incorporated will post 4.01 earnings per share for the current year.

Cheesecake Factory Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 26th. Stockholders of record on Wednesday, May 13th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend was Wednesday, May 13th. Cheesecake Factory’s payout ratio is presently 35.09%.

Insider Buying and Selling

In other Cheesecake Factory news, Director Alexander L. Cappello sold 2,490 shares of the firm’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $64.90, for a total transaction of $161,601.00. Following the completion of the sale, the director owned 6,171 shares of the company’s stock, valued at $400,497.90. This trade represents a 28.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman David Overton sold 104,000 shares of Cheesecake Factory stock in a transaction on Friday, May 1st. The shares were sold at an average price of $61.02, for a total value of $6,346,080.00. Following the completion of the sale, the chairman owned 3,079,779 shares in the company, valued at $187,928,114.58. This represents a 3.27% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 8.00% of the company’s stock.

Cheesecake Factory 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.