Insider Selling: The Cheesecake Factory President Unloads 2,300 Shares of Stock (CAKE)
The Cheesecake Factory (NASDAQ:CAKE) President David M. Gordon unloaded 2,300 shares of The Cheesecake Factory stock on the open market in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $44.50, for a total transaction of $102,350.00. Following the transaction, the president now directly owns 28,600 shares in the company, valued at approximately $1,272,700. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
CAKE has been the subject of a number of recent research reports. Analysts at Wunderlich reiterated a “buy” rating on shares of The Cheesecake Factory in a research note on Wednesday, May 7th. They now have a $48.00 price target on the stock, up previously from $46.00. Separately, analysts at Gabelli initiated coverage on shares of The Cheesecake Factory in a research note on Friday, May 2nd. They set a “hold” rating and a $53.00 price target on the stock. Finally, analysts at Zacks reiterated a “neutral” rating on shares of The Cheesecake Factory in a research note on Friday, April 25th. They now have a $48.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The Cheesecake Factory presently has a consensus rating of “Buy” and a consensus target price of $48.80.
The Cheesecake Factory (NASDAQ:CAKE) traded down 0.56% during mid-day trading on Thursday, hitting $44.27. 1,056,758 shares of the company’s stock traded hands. The Cheesecake Factory has a 52 week low of $39.35 and a 52 week high of $49.74. The stock’s 50-day moving average is $46.25 and its 200-day moving average is $47.02. The company has a market cap of $2.218 billion and a price-to-earnings ratio of 21.59.
The Cheesecake Factory (NASDAQ:CAKE) last announced its earnings results on Wednesday, April 23rd. The company reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by $0.06. The company had revenue of $481.43 million for the quarter, compared to the consensus estimate of $478.84 million. During the same quarter in the previous year, the company posted $0.47 earnings per share. The company’s revenue for the quarter was up 4.0% on a year-over-year basis. On average, analysts predict that The Cheesecake Factory will post $2.29 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, May 20th. Stockholders of record on Wednesday, May 7th will be paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 1.26%. The ex-dividend date is Monday, May 5th.
The Cheesecake Factory Incorporated is engaged in the restaurant and bakery businesses. As of February 28, 2013, it operated 177 Company-owned upscale, casual dining, full-service restaurants: 162 under The Cheesecake Factory mark, 14 under the Grand Lux Cafe mark and one under the RockSugar Pan Asian Kitchen mark.
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