The Cheesecake Factory Incorporated (NASDAQ:CAKE) Declares Quarterly Dividend of $0.30

The Cheesecake Factory Incorporated (NASDAQ:CAKE) declared a quarterly dividend on Tuesday, July 28th. Investors of record on Tuesday, August 11th will be given a dividend of 0.30 per share by the restaurant operator on Tuesday, August 25th. This represents a c) dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Tuesday, August 11th.

Cheesecake Factory has raised its dividend payment by an average of 0.2%per year over the last three years. Cheesecake Factory has a payout ratio of 29.4% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Cheesecake Factory to earn $4.45 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 27.0%.

Cheesecake Factory Stock Performance

CAKE stock traded up $10.48 during midday trading on Wednesday, hitting $99.49. The company’s stock had a trading volume of 3,505,802 shares, compared to its average volume of 1,341,969. Cheesecake Factory has a 1 year low of $43.07 and a 1 year high of $101.08. The company has a quick ratio of 0.53, a current ratio of 0.59 and a debt-to-equity ratio of 1.22. The stock’s 50-day moving average price is $75.16 and its 200 day moving average price is $65.29. The stock has a market cap of $4.94 billion, a price-to-earnings ratio of 28.99, a PEG ratio of 2.03 and a beta of 1.01.

Cheesecake Factory (NASDAQ:CAKE) last announced its quarterly earnings data on Tuesday, July 28th. The restaurant operator reported $1.44 earnings per share for the quarter, topping the consensus estimate of $1.18 by $0.26. The company had revenue of $1.03 billion during the quarter, compared to analyst estimates of $999.54 million. Cheesecake Factory had a return on equity of 43.74% and a net margin of 4.34%.The firm’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.16 EPS. On average, equities analysts forecast that Cheesecake Factory will post 4.06 EPS for the current year.

Insider Buying and Selling

In other Cheesecake Factory news, Chairman David Overton sold 104,000 shares of Cheesecake Factory stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $61.02, for a total transaction of $6,346,080.00. Following the completion of the sale, the chairman directly owned 3,079,779 shares in the company, valued at approximately $187,928,114.58. The trade was a 3.27% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, 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 transaction, the director directly owned 6,171 shares of the company’s stock, valued at approximately $400,497.90. This trade represents a 28.75% 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.

Institutional Trading of Cheesecake Factory

Hedge funds and other institutional investors have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC increased its stake in shares of Cheesecake Factory by 183.6% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 133,921 shares of the restaurant operator’s stock worth $7,072,000 after buying an additional 86,705 shares during the period. Fisher Asset Management LLC grew its holdings in shares of Cheesecake Factory by 7.2% during the fourth quarter. Fisher Asset Management LLC now owns 503,184 shares of the restaurant operator’s stock worth $25,401,000 after purchasing an additional 33,959 shares during the last quarter. Louisiana State Employees Retirement System purchased a new stake in shares of Cheesecake Factory in the 1st quarter valued at about $1,111,000. Intech Investment Management LLC increased its position in Cheesecake Factory by 127.7% during the fourth quarter. Intech Investment Management LLC now owns 60,513 shares of the restaurant operator’s stock worth $3,055,000 after buying an additional 33,936 shares during the period. Finally, SG Americas Securities LLC lifted its stake in Cheesecake Factory by 140.8% in the fourth quarter. SG Americas Securities LLC now owns 26,064 shares of the restaurant operator’s stock valued at $1,316,000 after buying an additional 15,242 shares during the last quarter. 94.48% of the stock is owned by institutional investors and hedge funds.

Cheesecake Factory Company 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.