Picton Mahoney Asset Management Boosts Stock Position in The Cheesecake Factory Incorporated (NASDAQ:CAKE)

Picton Mahoney Asset Management lifted its position in The Cheesecake Factory Incorporated (NASDAQ:CAKE) by 70,748.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 21,963 shares of the restaurant operator’s stock after buying an additional 21,932 shares during the quarter. Picton Mahoney Asset Management’s holdings in Cheesecake Factory were worth $1,069,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of Cheesecake Factory by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 5,443,458 shares of the restaurant operator’s stock valued at $258,238,000 after buying an additional 21,096 shares during the period. Victory Capital Management Inc. grew its stake in Cheesecake Factory by 64.1% during the 1st quarter. Victory Capital Management Inc. now owns 1,766,131 shares of the restaurant operator’s stock worth $85,940,000 after purchasing an additional 689,784 shares in the last quarter. Invesco Ltd. grew its stake in Cheesecake Factory by 12.4% during the 4th quarter. Invesco Ltd. now owns 1,412,483 shares of the restaurant operator’s stock worth $67,008,000 after purchasing an additional 155,614 shares in the last quarter. Wellington Management Group LLP acquired a new position in Cheesecake Factory during the 4th quarter worth $56,288,000. Finally, JCP Investment Management LLC grew its stake in Cheesecake Factory by 181.3% during the 4th quarter. JCP Investment Management LLC now owns 667,210 shares of the restaurant operator’s stock worth $31,652,000 after purchasing an additional 430,000 shares in the last quarter. Hedge funds and other institutional investors own 94.48% of the company’s stock.

Cheesecake Factory Stock Up 5.2%

Shares of NASDAQ CAKE opened at $66.47 on Thursday. The stock has a market cap of $3.29 billion, a PE ratio of 20.45, a price-to-earnings-growth ratio of 1.65 and a beta of 1.16. The company has a quick ratio of 0.43, a current ratio of 0.53 and a debt-to-equity ratio of 1.85. The Cheesecake Factory Incorporated has a 52-week low of $33.50 and a 52-week high of $69.70. The business has a 50-day moving average price of $60.63 and a 200 day moving average price of $54.09.

Cheesecake Factory (NASDAQ:CAKE) last announced its earnings results on Tuesday, July 29th. The restaurant operator reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.10. The firm had revenue of $955.83 million during the quarter, compared to analysts’ expectations of $945.82 million. Cheesecake Factory had a return on equity of 46.15% and a net margin of 4.33%. The business’s revenue was up 5.7% on a year-over-year basis. During the same period in the prior year, the firm earned $1.09 EPS. Equities research analysts forecast 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, August 26th. Shareholders of record on Tuesday, August 12th will be paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 1.62%. The ex-dividend date is Tuesday, August 12th. Cheesecake Factory’s dividend payout ratio is presently 33.86%.

Analyst Ratings Changes

Several research analysts recently commented on CAKE shares. Raymond James Financial boosted their target price on Cheesecake Factory from $63.00 to $70.00 and gave the stock an “outperform” rating in a research note on Thursday, July 17th. Bank of America boosted their target price on Cheesecake Factory from $61.00 to $67.00 and gave the stock a “neutral” rating in a research note on Friday, July 18th. Robert W. Baird boosted their target price on Cheesecake Factory from $56.00 to $64.00 and gave the stock a “neutral” rating in a research note on Wednesday. Morgan Stanley set a $45.00 target price on Cheesecake Factory and gave the stock an “underweight” rating in a research note on Monday, July 14th. Finally, Wells Fargo & Company upped their price objective on Cheesecake Factory from $60.00 to $65.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Four analysts have rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $60.94.

Insider Buying and Selling at Cheesecake Factory

In other Cheesecake Factory news, CFO Matthew Eliot Clark sold 42,900 shares of the company’s stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $56.00, for a total transaction of $2,402,400.00. Following the completion of the sale, the chief financial officer directly owned 40,878 shares of the company’s stock, valued at $2,289,168. This represents a 51.21% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Keith Carango sold 50,500 shares of the company’s stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $55.12, for a total value of $2,783,560.00. Following the sale, the insider directly owned 20,774 shares of the company’s stock, valued at approximately $1,145,062.88. This represents a 70.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 133,000 shares of company stock valued at $7,456,992 in the last ninety days. Insiders own 8.40% of the company’s stock.

Cheesecake Factory Company 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.