Key Points
- Director Janice Meyer sold 1,958 Cheesecake Factory shares at an average price of $109.36, generating $214,126.88. Her remaining stake fell 8.44% to 21,251 shares.
- Cheesecake Factory exceeded quarterly expectations, reporting $1.44 in EPS versus the $1.18 consensus and $1.03 billion in revenue, up 7.7% year over year. The company also declared a quarterly dividend of $0.30 per share, equivalent to a 1.1% annual yield.
- Analyst sentiment remains cautious, with a consensus “Hold” rating and an average price target of $81, well below the stock’s reported $106.36 opening price. Institutional investors own 94.48% of the company’s shares.
The Cheesecake Factory Incorporated (NASDAQ:CAKE - Get Free Report) Director Janice Meyer sold 1,958 shares of the firm's stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $109.36, for a total transaction of $214,126.88. Following the sale, the director directly owned 21,251 shares in the company, valued at approximately $2,324,009.36. The trade was a 8.44% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.
Cheesecake Factory Trading Down 2.5%
Shares of Cheesecake Factory stock opened at $106.36 on Wednesday. The company has a fifty day simple moving average of $88.22 and a 200-day simple moving average of $70.47. The Cheesecake Factory Incorporated has a 12-month low of $43.07 and a 12-month high of $118.46. 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 stock has a market cap of $5.29 billion, a price-to-earnings ratio of 28.82, a PEG ratio of 2.03 and a beta of 1.00.
Cheesecake Factory (NASDAQ:CAKE - Get Free Report) last posted its earnings results on Tuesday, July 28th. The restaurant operator reported $1.44 EPS for the quarter, beating analysts' consensus estimates of $1.18 by $0.26. Cheesecake Factory had a net margin of 4.61% and a return on equity of 43.97%. The firm had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $999.54 million. During the same period last year, the firm posted $1.16 EPS. The company's revenue was up 7.7% on a year-over-year basis. On average, equities analysts forecast that The Cheesecake Factory Incorporated will post 4.47 EPS for the current fiscal year.
Cheesecake Factory Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 25th. Shareholders of record on Tuesday, August 11th will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Tuesday, August 11th. This represents a $1.20 annualized dividend and a dividend yield of 1.1%. Cheesecake Factory's dividend payout ratio (DPR) is presently 32.52%.
Institutional Trading of Cheesecake Factory
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Salomon & Ludwin LLC lifted its position in Cheesecake Factory by 226.5% during the 4th quarter. Salomon & Ludwin LLC now owns 604 shares of the restaurant operator's stock worth $33,000 after acquiring an additional 419 shares during the period. Allworth Financial LP acquired a new position in shares of Cheesecake Factory in the second quarter valued at approximately $36,000. Global Retirement Partners LLC raised its stake in shares of Cheesecake Factory by 661.7% during the fourth quarter. Global Retirement Partners LLC now owns 716 shares of the restaurant operator's stock worth $36,000 after purchasing an additional 622 shares during the last quarter. NFSG Corp raised its stake in shares of Cheesecake Factory by 115.8% during the first quarter. NFSG Corp now owns 682 shares of the restaurant operator's stock worth $37,000 after purchasing an additional 366 shares during the last quarter. Finally, Root Financial Partners LLC lifted its holdings in shares of Cheesecake Factory by 973.2% during the fourth quarter. Root Financial Partners LLC now owns 880 shares of the restaurant operator's stock worth $44,000 after purchasing an additional 798 shares during the period. 94.48% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several analysts have recently weighed in on CAKE shares. Jefferies Financial Group downgraded Cheesecake Factory from a "buy" rating to a "hold" rating and boosted their target price for the company from $75.00 to $88.00 in a report on Wednesday, July 29th. UBS Group boosted their price objective on Cheesecake Factory from $53.00 to $60.00 and gave the company a "sell" rating in a research note on Thursday, July 23rd. Stephens reissued a "positive" rating on shares of Cheesecake Factory in a report on Wednesday, July 29th. Oppenheimer lifted their target price on shares of Cheesecake Factory from $91.00 to $101.00 and gave the company an "outperform" rating in a report on Wednesday, July 29th. Finally, Mizuho upped their price target on shares of Cheesecake Factory from $85.00 to $93.00 and gave the company a "neutral" rating in a research report on Wednesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $81.00.
Read Our Latest Report on Cheesecake Factory
About Cheesecake Factory
(
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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