Cheesecake Factory (NASDAQ:CAKE) Chairman Sells $6,346,080.00 in Stock

The Cheesecake Factory Incorporated (NASDAQ:CAKE) Chairman David Overton sold 104,000 shares of the company’s stock in a transaction on Friday, May 1st. The shares were sold at an average price of $61.02, for a total value of $6,346,080.00. Following the transaction, the chairman directly owned 3,079,779 shares in the company, valued at $187,928,114.58. This trade represents a 3.27% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Cheesecake Factory Trading Down 1.5%

Shares of CAKE traded down $0.91 during trading hours on Monday, hitting $59.29. 1,093,546 shares of the stock traded hands, compared to its average volume of 1,338,883. The company has a current ratio of 0.59, a quick ratio of 0.52 and a debt-to-equity ratio of 1.29. The Cheesecake Factory Incorporated has a 1-year low of $43.07 and a 1-year high of $69.70. The firm has a market capitalization of $2.95 billion, a PE ratio of 17.34, a price-to-earnings-growth ratio of 1.45 and a beta of 1.04. The business has a fifty day moving average of $59.99 and a 200-day moving average of $55.58.

Cheesecake Factory (NASDAQ:CAKE) last issued its quarterly earnings results on Wednesday, April 29th. The restaurant operator reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.03 by $0.02. Cheesecake Factory had a return on equity of 44.74% and a net margin of 4.34%.The business had revenue of $978.83 million for the quarter, compared to analyst estimates of $964.57 million. During the same quarter in the prior year, the firm posted $0.93 earnings per share. The firm’s revenue for the quarter was up 5.6% compared to the same quarter last year. Analysts expect that The Cheesecake Factory Incorporated will post 4.03 EPS for the current year.

Cheesecake Factory Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 26th. Shareholders of record on Wednesday, May 13th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Wednesday, May 13th. This represents a $1.20 annualized dividend and a yield of 2.0%. Cheesecake Factory’s dividend payout ratio is presently 35.09%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $68.00 target price on shares of Cheesecake Factory in a research note on Thursday. Morgan Stanley increased their target price on Cheesecake Factory from $49.00 to $50.00 and gave the company an “underweight” rating in a research note on Tuesday, January 20th. Wells Fargo & Company increased their target price on Cheesecake Factory from $60.00 to $65.00 and gave the company an “equal weight” rating in a research note on Thursday. Barclays increased their target price on Cheesecake Factory from $58.00 to $60.00 and gave the company an “underweight” rating in a research note on Thursday. Finally, Citigroup increased their target price on Cheesecake Factory from $75.00 to $76.00 and gave the company a “buy” rating in a research note on Thursday. Six research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $64.00.

Institutional Investors Weigh In On Cheesecake Factory

A number of hedge funds have recently modified their holdings of the business. Fifth Third Bancorp raised its position in shares of Cheesecake Factory by 4,184.7% during the first quarter. Fifth Third Bancorp now owns 13,454 shares of the restaurant operator’s stock worth $737,000 after purchasing an additional 13,140 shares during the period. Sequoia Financial Advisors LLC acquired a new stake in shares of Cheesecake Factory during the first quarter worth about $247,000. Money Concepts Capital Corp raised its position in shares of Cheesecake Factory by 3.8% during the first quarter. Money Concepts Capital Corp now owns 5,802 shares of the restaurant operator’s stock worth $318,000 after purchasing an additional 210 shares during the period. Abel Hall LLC raised its position in shares of Cheesecake Factory by 8.5% during the first quarter. Abel Hall LLC now owns 4,672 shares of the restaurant operator’s stock worth $256,000 after purchasing an additional 367 shares during the period. Finally, Ascentis Independent Advisors acquired a new stake in shares of Cheesecake Factory during the first quarter worth about $65,000. Institutional investors and hedge funds own 94.48% of the company’s stock.

About Cheesecake Factory

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.