The Cheesecake Factory VP Sells $88,680 in Stock (CAKE)
The Cheesecake Factory (NASDAQ:CAKE) VP Debby R. Zurzolo sold 2,000 shares of the stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $44.34, for a total value of $88,680.00. Following the completion of the transaction, the vice president now directly owns 21,600 shares of the company’s stock, valued at approximately $957,744. The transaction was disclosed in a document filed with the SEC, which is available at this link.
Shares of The Cheesecake Factory (NASDAQ:CAKE) traded up 0.27% on Thursday, hitting $44.30. The stock had a trading volume of 515,035 shares. The Cheesecake Factory has a 1-year low of $41.52 and a 1-year high of $49.74. The stock has a 50-day moving average of $44.69 and a 200-day moving average of $45.88. The company has a market cap of $2.123 billion and a P/E ratio of 20.81.
The Cheesecake Factory (NASDAQ:CAKE) last posted its quarterly earnings results on Wednesday, July 23rd. The company reported $0.59 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.61 by $0.02. The company had revenue of $496.40 million for the quarter, compared to the consensus estimate of $502.03 million. During the same quarter last year, the company posted $0.54 earnings per share. The Cheesecake Factory’s revenue was up 5.6% compared to the same quarter last year. Analysts expect that The Cheesecake Factory will post $2.21 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, August 19th. Investors of record on Wednesday, August 6th will be paid a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a dividend yield of 1.49%. The ex-dividend date is Monday, August 4th. This is an increase from The Cheesecake Factory’s previous quarterly dividend of $0.14.
A number of analysts have recently weighed in on CAKE shares. Analysts at JPMorgan Chase & Co. reiterated a “neutral” rating on shares of The Cheesecake Factory in a research note on Thursday, July 31st. They now have a $47.00 price target on the stock, down previously from $50.00. Separately, analysts at Zacks reiterated a “neutral” rating on shares of The Cheesecake Factory in a research note on Monday, July 28th. They now have a $45.00 price target on the stock. Finally, analysts at Jefferies Group reiterated a “hold” rating on shares of The Cheesecake Factory in a research note on Thursday, July 24th. They now have a $43.00 price target on the stock, down previously from $46.00. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $49.30.
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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