The Cheesecake Factory Incorporated (NASDAQ:CAKE) Shares Sold by 1492 Capital Management LLC

1492 Capital Management LLC trimmed its stake in The Cheesecake Factory Incorporated (NASDAQ:CAKE) by 1.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 70,123 shares of the restaurant operator’s stock after selling 775 shares during the quarter. Cheesecake Factory makes up 1.6% of 1492 Capital Management LLC’s portfolio, making the stock its 24th biggest holding. 1492 Capital Management LLC’s holdings in Cheesecake Factory were worth $3,327,000 as of its most recent filing with the Securities & Exchange Commission.

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

Cheesecake Factory Trading Up 2.3 %

NASDAQ:CAKE opened at $47.87 on Friday. The Cheesecake Factory Incorporated has a 12 month low of $33.42 and a 12 month high of $57.32. The business’s 50-day moving average is $49.61 and its two-hundred day moving average is $48.40. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.44 and a quick ratio of 0.33. The firm has a market capitalization of $2.47 billion, a PE ratio of 14.96, a price-to-earnings-growth ratio of 1.31 and a beta of 1.24.

Cheesecake Factory (NASDAQ:CAKE) last released its quarterly earnings results on Wednesday, February 19th. The restaurant operator reported $1.04 EPS for the quarter, topping the consensus estimate of $0.91 by $0.13. Cheesecake Factory had a return on equity of 45.89% and a net margin of 4.38%. The firm had revenue of $920.96 million for the quarter, compared to analyst estimates of $912.67 million. Research analysts predict that The Cheesecake Factory Incorporated will post 3.71 earnings per share for the current fiscal year.

Cheesecake Factory Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Investors of record on Wednesday, March 5th were issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date was Wednesday, March 5th. Cheesecake Factory’s payout ratio is 33.75%.

Insider Buying and Selling

In other Cheesecake Factory news, Chairman David Overton sold 100,000 shares of the stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $53.08, for a total transaction of $5,308,000.00. Following the transaction, the chairman now directly owns 3,092,147 shares in the company, valued at $164,131,162.76. This represents a 3.13 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Matthew Eliot Clark sold 29,000 shares of the firm’s stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $53.56, for a total transaction of $1,553,240.00. Following the transaction, the chief financial officer now directly owns 39,856 shares of the company’s stock, 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 insiders.

Analyst Upgrades and Downgrades

Several analysts have commented on CAKE shares. Robert W. Baird lowered their target price on shares of Cheesecake Factory from $50.00 to $46.00 and set a “neutral” rating for the company in a research note on Monday, April 7th. UBS Group raised their price target on Cheesecake Factory from $41.00 to $45.00 and gave the stock a “sell” rating in a research note on Thursday, February 20th. JPMorgan Chase & Co. dropped their price objective on shares of Cheesecake Factory from $55.00 to $48.00 and set an “underweight” rating for the company in a research note on Thursday, March 20th. Morgan Stanley set a $39.00 target price on shares of Cheesecake Factory and gave the stock an “underweight” rating in a research report on Monday. Finally, Piper Sandler boosted their target price on shares of Cheesecake Factory from $47.00 to $51.00 and gave the company a “neutral” rating in a report on Thursday, February 20th. Four analysts have rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, Cheesecake Factory currently has an average rating of “Hold” and an average price target of $52.75.

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.