Moran Wealth Management LLC Makes New Investment in The Cheesecake Factory Incorporated (NASDAQ:CAKE)

Moran Wealth Management LLC bought a new stake in shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 4,387 shares of the restaurant operator’s stock, valued at approximately $208,000.

A number of other hedge funds have also recently made changes to their positions in CAKE. Golden State Wealth Management LLC purchased a new position in Cheesecake Factory during the fourth quarter valued at $25,000. Versant Capital Management Inc increased its holdings in shares of Cheesecake Factory by 108.1% during the fourth quarter. Versant Capital Management Inc now owns 616 shares of the restaurant operator’s stock valued at $29,000 after acquiring an additional 320 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in shares of Cheesecake Factory during the fourth quarter valued at $43,000. Venturi Wealth Management LLC raised its position in shares of Cheesecake Factory by 1,149.5% in the 4th quarter. Venturi Wealth Management LLC now owns 1,312 shares of the restaurant operator’s stock worth $62,000 after purchasing an additional 1,207 shares during the last quarter. Finally, KBC Group NV boosted its stake in Cheesecake Factory by 46.9% in the 4th quarter. KBC Group NV now owns 2,321 shares of the restaurant operator’s stock worth $110,000 after purchasing an additional 741 shares in the last quarter. 94.48% of the stock is owned by institutional investors.

Cheesecake Factory Stock Up 1.7 %

Shares of CAKE stock opened at $47.68 on Thursday. The company has a 50 day simple moving average of $51.83 and a two-hundred day simple moving average of $46.78. The stock has a market cap of $2.46 billion, a P/E ratio of 14.90, a P/E/G ratio of 1.31 and a beta of 1.55. The Cheesecake Factory Incorporated has a 12 month low of $33.05 and a 12 month high of $57.32. 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 posted its quarterly earnings data on Wednesday, February 19th. The restaurant operator reported $1.04 EPS for the quarter, topping the consensus estimate of $0.91 by $0.13. The firm had revenue of $920.96 million during the quarter, compared to analyst estimates of $912.67 million. Cheesecake Factory had a return on equity of 45.89% and a net margin of 4.38%. On average, research analysts expect that The Cheesecake Factory Incorporated will post 3.71 earnings per share for the current year.

Cheesecake Factory Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 18th. Stockholders of record on Wednesday, March 5th will be given a dividend of $0.27 per share. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.27%. Cheesecake Factory’s payout ratio is currently 33.75%.

Insider Activity at Cheesecake Factory

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

Wall Street Analysts Forecast Growth

CAKE has been the subject of a number of analyst reports. Piper Sandler lifted their target price on shares of Cheesecake Factory from $47.00 to $51.00 and gave the stock a “neutral” rating in a report on Thursday, February 20th. UBS Group boosted their price objective on shares of Cheesecake Factory from $41.00 to $45.00 and gave the stock a “sell” rating in a report on Thursday, February 20th. Wedbush increased their target price on Cheesecake Factory from $59.00 to $61.00 and gave the company an “outperform” rating in a research note on Thursday, February 20th. Citigroup reissued a “buy” rating on shares of Cheesecake Factory in a report on Tuesday, February 4th. Finally, Stephens reaffirmed an “overweight” rating and set a $60.00 price target on shares of Cheesecake Factory in a report on Thursday, February 20th. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, Cheesecake Factory presently has a consensus rating of “Hold” and a consensus price target of $52.19.

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.