The Cheesecake Factory Incorporated $CAKE Position Increased by Redhawk Wealth Advisors Inc.

Redhawk Wealth Advisors Inc. increased its position in shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE) by 295.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,003 shares of the restaurant operator’s stock after acquiring an additional 21,673 shares during the period. Redhawk Wealth Advisors Inc. owned about 0.06% of Cheesecake Factory worth $1,817,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Wealth Enhancement Advisory Services LLC raised its holdings in Cheesecake Factory by 11.6% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 8,329 shares of the restaurant operator’s stock valued at $547,000 after buying an additional 864 shares in the last quarter. Harbor Capital Advisors Inc. raised its holdings in Cheesecake Factory by 23.8% during the second quarter. Harbor Capital Advisors Inc. now owns 13,337 shares of the restaurant operator’s stock valued at $836,000 after buying an additional 2,567 shares in the last quarter. Inspire Investing LLC raised its holdings in Cheesecake Factory by 156.2% during the first quarter. Inspire Investing LLC now owns 24,406 shares of the restaurant operator’s stock valued at $1,188,000 after buying an additional 14,880 shares in the last quarter. Rhumbline Advisers raised its holdings in Cheesecake Factory by 0.5% during the first quarter. Rhumbline Advisers now owns 134,328 shares of the restaurant operator’s stock valued at $6,536,000 after buying an additional 656 shares in the last quarter. Finally, Intech Investment Management LLC raised its holdings in Cheesecake Factory by 57.8% during the first quarter. Intech Investment Management LLC now owns 41,870 shares of the restaurant operator’s stock valued at $2,037,000 after buying an additional 15,342 shares in the last quarter. 94.48% of the stock is currently owned by hedge funds and other institutional investors.

Cheesecake Factory Stock Up 1.3%

CAKE stock opened at $55.12 on Friday. The Cheesecake Factory Incorporated has a twelve month low of $38.37 and a twelve month high of $69.70. The company has a market cap of $2.75 billion, a PE ratio of 16.96, a price-to-earnings-growth ratio of 1.30 and a beta of 1.10. The business’s 50-day simple moving average is $61.87 and its 200 day simple moving average is $56.07. The company has a quick ratio of 0.42, a current ratio of 0.51 and a debt-to-equity ratio of 1.40.

Cheesecake Factory (NASDAQ:CAKE) last released its earnings results on Tuesday, July 29th. The restaurant operator reported $1.16 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.10. Cheesecake Factory had a return on equity of 45.92% and a net margin of 4.33%.The business had revenue of $955.83 million for the quarter, compared to the consensus estimate of $945.82 million. During the same period last year, the business earned $1.09 earnings per share. The firm’s revenue for the quarter was up 5.7% compared to the same quarter last year. On average, research analysts anticipate that The Cheesecake Factory Incorporated will post 3.71 earnings per share for the current year.

Cheesecake Factory Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 26th. Shareholders of record on Tuesday, August 12th were issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend was Tuesday, August 12th. Cheesecake Factory’s payout ratio is presently 33.23%.

Analysts Set New Price Targets

Several research firms have weighed in on CAKE. JPMorgan Chase & Co. raised their target price on Cheesecake Factory from $50.00 to $58.00 and gave the company an “underweight” rating in a report on Wednesday, June 25th. UBS Group raised their target price on Cheesecake Factory from $45.00 to $50.00 and gave the company a “sell” rating in a report on Friday, July 18th. Piper Sandler raised their target price on Cheesecake Factory from $54.00 to $62.00 and gave the company a “neutral” rating in a report on Monday, August 4th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $67.00 price objective (up from $66.00) on shares of Cheesecake Factory in a research note on Thursday, July 10th. Finally, Barclays lifted their price objective on Cheesecake Factory from $57.00 to $62.00 and gave the stock an “underweight” rating in a research note on Wednesday, July 30th. Seven equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat, Cheesecake Factory presently has an average rating of “Hold” and an average target price of $61.94.

Insider Buying and Selling

In other Cheesecake Factory news, President David M. Gordon sold 43,335 shares of Cheesecake Factory stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $63.06, for a total transaction of $2,732,705.10. Following the sale, the president directly owned 24,532 shares of the company’s stock, valued at approximately $1,546,987.92. The trade was a 63.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Alexander L. Cappello sold 12,388 shares of Cheesecake Factory stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $65.88, for a total value of $816,121.44. Following the sale, the director directly owned 6,806 shares in the company, valued at $448,379.28. The trade was a 64.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.40% of the stock is currently owned by insiders.

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.