The Cheesecake Factory Incorporated $CAKE Shares Bought by Headlands Technologies LLC

Headlands Technologies LLC increased its holdings in shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE) by 29.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,640 shares of the restaurant operator’s stock after buying an additional 9,765 shares during the period. Headlands Technologies LLC owned about 0.09% of Cheesecake Factory worth $3,392,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. Susquehanna Fundamental Investments LLC purchased a new stake in Cheesecake Factory in the 2nd quarter worth $1,076,000. Northwestern Mutual Wealth Management Co. lifted its holdings in Cheesecake Factory by 92.5% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,594 shares of the restaurant operator’s stock valued at $127,000 after purchasing an additional 766 shares in the last quarter. Wedbush Securities Inc. acquired a new stake in shares of Cheesecake Factory in the second quarter valued at about $263,000. Empowered Funds LLC purchased a new stake in shares of Cheesecake Factory during the second quarter worth about $636,000. Finally, Public Employees Retirement System of Ohio purchased a new stake in shares of Cheesecake Factory during the second quarter worth about $2,367,000. Institutional investors and hedge funds own 94.48% of the company’s stock.

Insider Activity

In other Cheesecake Factory news, insider Ashley W. Hanscom sold 3,500 shares of the company’s stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $100.00, for a total value of $350,000.00. Following the completion of the sale, the insider directly owned 7,541 shares in the company, valued at $754,100. This represents a 31.70% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman David Overton sold 94,145 shares of the firm’s stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $106.27, for a total value of $10,004,789.15. Following the completion of the sale, the chairman directly owned 89,805 shares of the company’s stock, valued at $9,543,577.35. This trade represents a 51.18% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 216,239 shares of company stock valued at $22,463,500 in the last 90 days. 8.00% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

CAKE has been the topic of a number of research reports. Morgan Stanley raised shares of Cheesecake Factory from an “underweight” rating to an “equal weight” rating and raised their price target for the company from $50.00 to $80.00 in a research note on Wednesday, July 29th. Robert W. Baird raised Cheesecake Factory to a “hold” rating in a report on Monday, August 24th. JPMorgan Chase & Co. raised their target price on Cheesecake Factory from $92.00 to $105.00 and gave the company a “neutral” rating in a research report on Wednesday, August 26th. Weiss Ratings raised Cheesecake Factory from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, August 13th. Finally, UBS Group boosted their price target on Cheesecake Factory from $53.00 to $60.00 and gave the stock a “sell” rating in a research report on Thursday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $83.47.

Cheesecake Factory Stock Performance

CAKE opened at $112.07 on Monday. The Cheesecake Factory Incorporated has a twelve month low of $43.07 and a twelve month high of $118.46. The firm has a market capitalization of $5.58 billion, a PE ratio of 30.37, a PEG ratio of 1.99 and a beta of 1.00. The company has a current ratio of 0.59, a quick ratio of 0.52 and a debt-to-equity ratio of 1.08. The firm’s 50-day moving average price is $94.09 and its 200 day moving average price is $73.32.

Cheesecake Factory (NASDAQ:CAKE) last released its quarterly earnings data on Tuesday, July 28th. The restaurant operator reported $1.44 EPS for the quarter, beating analysts’ consensus estimates of $1.18 by $0.26. The company had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $999.54 million. Cheesecake Factory had a net margin of 4.61% and a return on equity of 43.97%. Cheesecake Factory’s quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.16 EPS. As a group, sell-side analysts expect that The Cheesecake Factory Incorporated will post 4.52 EPS for the current fiscal year.

Cheesecake Factory Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 25th. Investors of record on Tuesday, August 11th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend was Tuesday, August 11th. Cheesecake Factory’s dividend payout ratio (DPR) is currently 32.52%.

Cheesecake Factory 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.