Fieldview Capital Management LLC Takes $2.23 Million Position in The Cheesecake Factory Incorporated $CAKE

Fieldview Capital Management LLC purchased a new position in shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 40,864 shares of the restaurant operator’s stock, valued at approximately $2,233,000. Fieldview Capital Management LLC owned about 0.08% of Cheesecake Factory as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. American Century Companies Inc. increased its holdings in Cheesecake Factory by 5.6% during the 3rd quarter. American Century Companies Inc. now owns 1,800,388 shares of the restaurant operator’s stock valued at $98,373,000 after acquiring an additional 96,074 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Cheesecake Factory by 2.4% in the third quarter. Dimensional Fund Advisors LP now owns 1,207,196 shares of the restaurant operator’s stock valued at $65,965,000 after purchasing an additional 28,361 shares in the last quarter. Fisher Asset Management LLC lifted its holdings in shares of Cheesecake Factory by 34.6% in the third quarter. Fisher Asset Management LLC now owns 469,225 shares of the restaurant operator’s stock valued at $25,638,000 after purchasing an additional 120,719 shares in the last quarter. Principal Financial Group Inc. grew its position in shares of Cheesecake Factory by 8.3% in the third quarter. Principal Financial Group Inc. now owns 299,520 shares of the restaurant operator’s stock valued at $16,366,000 after purchasing an additional 22,895 shares during the last quarter. Finally, New York State Common Retirement Fund grew its position in shares of Cheesecake Factory by 0.3% in the second quarter. New York State Common Retirement Fund now owns 220,334 shares of the restaurant operator’s stock valued at $13,806,000 after purchasing an additional 753 shares during the last quarter. 94.48% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Alexander L. Cappello sold 635 shares of the company’s stock in a transaction on Monday, February 23rd. The stock was sold at an average price of $63.74, for a total value of $40,474.90. Following the completion of the transaction, the director directly owned 6,171 shares in the company, valued at approximately $393,339.54. This represents a 9.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Ashley W. Hanscom sold 2,951 shares of the stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $65.64, for a total value of $193,703.64. Following the transaction, the insider owned 11,041 shares in the company, valued at $724,731.24. This trade represents a 21.09% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 15,376 shares of company stock worth $1,010,219 over the last ninety days. Company insiders own 8.10% of the company’s stock.

Cheesecake Factory Stock Performance

NASDAQ:CAKE opened at $62.99 on Tuesday. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.59 and a quick ratio of 0.52. The firm has a market cap of $3.14 billion, a PE ratio of 20.52, a P/E/G ratio of 1.59 and a beta of 0.96. The firm has a 50 day simple moving average of $59.83 and a 200-day simple moving average of $55.13. The Cheesecake Factory Incorporated has a 1-year low of $42.69 and a 1-year high of $69.70.

Cheesecake Factory (NASDAQ:CAKE) last announced its earnings results on Wednesday, February 18th. The restaurant operator reported $1.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.02. The firm had revenue of $961.56 million for the quarter, compared to analyst estimates of $949.03 million. Cheesecake Factory had a net margin of 3.96% and a return on equity of 45.68%. Cheesecake Factory’s revenue was up 4.4% compared to the same quarter last year. During the same quarter last year, the business earned $1.04 earnings per share. On average, equities analysts expect that The Cheesecake Factory Incorporated will post 3.71 EPS for the current year.

Cheesecake Factory Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 17th. Stockholders of record on Wednesday, March 4th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.9%. This is a positive change from Cheesecake Factory’s previous quarterly dividend of $0.27. The ex-dividend date is Wednesday, March 4th. Cheesecake Factory’s payout ratio is 39.09%.

Wall Street Analysts Forecast Growth

CAKE has been the subject of several research reports. Mizuho set a $75.00 price objective on Cheesecake Factory in a research report on Thursday, February 19th. Barclays reiterated an “underweight” rating and set a $58.00 target price on shares of Cheesecake Factory in a report on Thursday, February 19th. Weiss Ratings raised Cheesecake Factory from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, February 23rd. Stephens cut Cheesecake Factory from an “overweight” rating to an “equal weight” rating and set a $65.00 price target for the company. in a report on Thursday, February 19th. Finally, Morgan Stanley upped their price objective on Cheesecake Factory from $49.00 to $50.00 and gave the company an “underweight” rating in a research report on Tuesday, January 20th. Six investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat.com, Cheesecake Factory presently has a consensus rating of “Hold” and an average target price of $61.81.

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.