Key Points
- Director Alexander Cappello sold 2,490 shares of Cheesecake Factory stock on June 2 at an average price of $64.90, totaling $161,601. After the sale, he still held 6,171 shares, a 28.75% reduction in his ownership.
- Cheesecake Factory reported stronger-than-expected quarterly results in its latest earnings release, posting $1.05 EPS versus $1.03 expected and revenue of $978.83 million versus $964.57 million estimated. Revenue rose 5.6% year over year.
- Analysts currently view CAKE cautiously, with an average rating of “Hold” and an average price target of $64.94. The stock also pays a quarterly dividend of $0.30 per share, or $1.20 annualized, for a yield of about 1.9%.
The Cheesecake Factory Incorporated (NASDAQ:CAKE - Get Free Report) Director Alexander Cappello sold 2,490 shares of the business's stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $64.90, for a total value of $161,601.00. Following the transaction, the director directly owned 6,171 shares of the company's stock, valued at $400,497.90. The trade was a 28.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
Cheesecake Factory Trading Down 1.6%
CAKE opened at $63.84 on Friday. The Cheesecake Factory Incorporated has a 12 month low of $43.07 and a 12 month high of $69.70. The stock has a market capitalization of $3.17 billion, a price-to-earnings ratio of 18.67, a PEG ratio of 1.56 and a beta of 1.04. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.59 and a quick ratio of 0.53. The business has a fifty day moving average price of $60.31 and a 200 day moving average price of $57.37.
Cheesecake Factory (NASDAQ:CAKE - Get Free Report) last released its earnings results on Wednesday, April 29th. The restaurant operator reported $1.05 EPS for the quarter, topping the consensus estimate of $1.03 by $0.02. The firm had revenue of $978.83 million during the quarter, compared to analysts' expectations of $964.57 million. Cheesecake Factory had a return on equity of 43.74% and a net margin of 4.34%.Cheesecake Factory's revenue for the quarter was up 5.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.93 EPS. Sell-side analysts expect that The Cheesecake Factory Incorporated will post 4.01 earnings per share for the current fiscal year.
Cheesecake Factory Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 26th. Stockholders of record on Wednesday, May 13th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend was Wednesday, May 13th. Cheesecake Factory's dividend payout ratio (DPR) is 35.09%.
Analysts Set New Price Targets
Several equities research analysts have recently weighed in on CAKE shares. Mizuho set a $75.00 target price on Cheesecake Factory in a research report on Thursday, February 19th. Oppenheimer raised their target price on Cheesecake Factory from $68.00 to $72.00 and gave the stock an "outperform" rating in a research report on Tuesday, April 21st. UBS Group set a $53.00 target price on Cheesecake Factory and gave the stock a "sell" rating in a research report on Friday, February 20th. Stephens raised their target price on Cheesecake Factory from $61.00 to $65.00 and gave the stock an "equal weight" rating in a research report on Thursday, April 30th. Finally, Deutsche Bank Aktiengesellschaft reissued a "hold" rating and set a $68.00 target price on shares of Cheesecake Factory in a research report on Thursday, April 30th. Six analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat, Cheesecake Factory currently has an average rating of "Hold" and an average target price of $64.94.
Read Our Latest Report on CAKE
Institutional Trading of Cheesecake Factory
Institutional investors and hedge funds have recently made changes to their positions in the company. Salomon & Ludwin LLC lifted its holdings in shares of Cheesecake Factory by 226.5% in the 4th quarter. Salomon & Ludwin LLC now owns 604 shares of the restaurant operator's stock valued at $33,000 after purchasing an additional 419 shares during the last quarter. NFSG Corp lifted its holdings in shares of Cheesecake Factory by 115.8% in the 1st quarter. NFSG Corp now owns 682 shares of the restaurant operator's stock valued at $37,000 after purchasing an additional 366 shares during the last quarter. Global Retirement Partners LLC raised its stake in Cheesecake Factory by 661.7% during the 4th quarter. Global Retirement Partners LLC now owns 716 shares of the restaurant operator's stock valued at $36,000 after acquiring an additional 622 shares during the last quarter. Root Financial Partners LLC raised its stake in Cheesecake Factory by 973.2% during the 4th quarter. Root Financial Partners LLC now owns 880 shares of the restaurant operator's stock valued at $44,000 after acquiring an additional 798 shares during the last quarter. Finally, Arax Advisory Partners purchased a new stake in Cheesecake Factory during the 4th quarter valued at approximately $50,000. 94.48% of the stock is owned by hedge funds and other institutional investors.
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.
Read More
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
