Key Points
- Chairman David Overton sold 104,000 shares of The Cheesecake Factory on May 1 at an average price of $61.02 for a total of $6,346,080, reducing his stake by 3.27% to 3,079,779 shares (≈$187.9M); the sale was disclosed in an SEC Form 4 filing.
- The company reported quarterly EPS of $1.05 (vs. $1.03 est.) and revenue of $978.83M (up 5.6% year‑over‑year and above the $964.57M consensus), and declared a $0.30 quarterly dividend (annualized $1.20, ~2.0% yield; ex‑dividend May 13, payable May 26).
- Analysts remain mixed with a consensus "Hold" rating and a $64 target price, while price targets among firms range roughly from $53 to $76.
The Cheesecake Factory Incorporated (NASDAQ:CAKE - Get Free Report) Chairman David Overton sold 104,000 shares of Cheesecake Factory 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 sale, the chairman directly owned 3,079,779 shares of the company's stock, valued at approximately $187,928,114.58. This trade represents a 3.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
Cheesecake Factory Price Performance
CAKE opened at $59.29 on Tuesday. The company has a market capitalization of $2.95 billion, a price-to-earnings ratio of 17.34, a PEG ratio of 1.45 and a beta of 1.04. 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 12-month low of $43.07 and a 12-month high of $69.70. The business's fifty day simple moving average is $59.99 and its 200-day simple moving average is $55.58.
Cheesecake Factory (NASDAQ:CAKE - Get Free Report) last released its quarterly earnings data on Wednesday, April 29th. The restaurant operator reported $1.05 earnings per share 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 firm had revenue of $978.83 million during the quarter, compared to the consensus estimate of $964.57 million. During the same period in the previous year, the company posted $0.93 earnings per share. The firm's quarterly revenue was up 5.6% on a year-over-year basis. On average, equities research analysts anticipate that The Cheesecake Factory Incorporated will post 4.03 earnings per share for the current fiscal year.
Cheesecake Factory Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 26th. Stockholders of record on Wednesday, May 13th will be issued a $0.30 dividend. The ex-dividend date is Wednesday, May 13th. This represents a $1.20 annualized dividend and a dividend yield of 2.0%. Cheesecake Factory's payout ratio is currently 35.09%.
Wall Street Analyst Weigh In
A number of research firms have recently issued reports on CAKE. Barclays increased their price objective on shares of Cheesecake Factory from $58.00 to $60.00 and gave the company an "underweight" rating in a research note on Thursday. Citigroup upped their target price on Cheesecake Factory from $75.00 to $76.00 and gave the stock a "buy" rating in a report on Thursday, April 30th. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a $68.00 target price on shares of Cheesecake Factory in a research report on Thursday. Robert W. Baird set a $65.00 price target on Cheesecake Factory in a report on Thursday. Finally, UBS Group set a $53.00 price target on Cheesecake Factory and gave the stock a "sell" rating in a research report on Friday, February 20th. Six research analysts have rated the stock with a Buy rating, eight have given a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Cheesecake Factory currently has a consensus rating of "Hold" and a consensus target price of $64.00.
Get Our Latest Analysis on CAKE
Institutional Inflows and Outflows
Several large investors have recently modified their holdings of CAKE. Woodline Partners LP lifted its position in Cheesecake Factory by 1,059.3% during the third quarter. Woodline Partners LP now owns 618,056 shares of the restaurant operator's stock valued at $33,771,000 after acquiring an additional 564,744 shares during the last quarter. Invesco Ltd. increased its position in shares of Cheesecake Factory by 24.7% during the third quarter. Invesco Ltd. now owns 2,057,118 shares of the restaurant operator's stock worth $112,401,000 after purchasing an additional 407,223 shares in the last quarter. Millennium Management LLC increased its position in shares of Cheesecake Factory by 214.3% during the fourth quarter. Millennium Management LLC now owns 512,085 shares of the restaurant operator's stock worth $25,850,000 after purchasing an additional 349,168 shares in the last quarter. Engineers Gate Manager LP lifted its holdings in shares of Cheesecake Factory by 1,583.7% during the 4th quarter. Engineers Gate Manager LP now owns 287,219 shares of the restaurant operator's stock valued at $14,499,000 after purchasing an additional 270,160 shares during the last quarter. Finally, Voloridge Investment Management LLC lifted its holdings in shares of Cheesecake Factory by 54.0% during the 3rd quarter. Voloridge Investment Management LLC now owns 747,046 shares of the restaurant operator's stock valued at $40,819,000 after purchasing an additional 262,081 shares during the last quarter. Institutional investors own 94.48% of the company's stock.
Cheesecake Factory Company Profile
(
Get Free Report)
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.
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