The Cheesecake Factory Incorporated $CAKE Shares Sold by Delphi Management Inc. MA

Delphi Management Inc. MA lessened its position in shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE) by 29.1% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 20,983 shares of the restaurant operator’s stock after selling 8,603 shares during the period. Delphi Management Inc. MA’s holdings in Cheesecake Factory were worth $1,149,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in CAKE. Woodline Partners LP increased its holdings in shares of Cheesecake Factory by 1,059.3% in the 3rd 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. boosted its holdings in Cheesecake Factory by 24.7% in 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 during the period. Millennium Management LLC boosted its holdings in Cheesecake Factory by 214.3% in 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 during the period. Engineers Gate Manager LP increased its stake in Cheesecake Factory by 1,583.7% during the fourth 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 increased its stake in Cheesecake Factory by 54.0% during the third 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 and hedge funds own 94.48% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on CAKE shares. Citigroup cut shares of Cheesecake Factory from a “buy” rating to a “neutral” rating in a report on Monday, June 15th. Oppenheimer lifted their price target on shares of Cheesecake Factory from $68.00 to $72.00 and gave the company an “outperform” rating in a report on Tuesday, April 21st. Weiss Ratings downgraded shares of Cheesecake Factory from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday. Northcoast Research lowered shares of Cheesecake Factory from a “buy” rating to a “neutral” rating in a research note on Monday, June 15th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $68.00 target price on shares of Cheesecake Factory in a report on Thursday, April 30th. Five equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, Cheesecake Factory currently has an average rating of “Hold” and a consensus price target of $64.94.

Cheesecake Factory Trading Up 1.5%

Shares of NASDAQ:CAKE opened at $78.17 on Thursday. The company has a market cap of $3.88 billion, a PE ratio of 22.86, a P/E/G ratio of 1.85 and a beta of 1.04. The company’s 50-day moving average price is $65.18 and its 200 day moving average price is $60.06. The Cheesecake Factory Incorporated has a fifty-two week low of $43.07 and a fifty-two week high of $78.87. The company has a quick ratio of 0.53, a current ratio of 0.59 and a debt-to-equity ratio of 1.22.

Cheesecake Factory (NASDAQ:CAKE) last posted its earnings results on Wednesday, April 29th. The restaurant operator reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.03 by $0.02. Cheesecake Factory had a net margin of 4.34% and a return on equity of 43.74%. The firm had revenue of $978.83 million during the quarter, compared to analyst estimates of $964.57 million. During the same period in the previous year, the business posted $0.93 EPS. Cheesecake Factory’s revenue was up 5.6% on a year-over-year basis. Sell-side analysts anticipate that The Cheesecake Factory Incorporated will post 4.01 earnings per share for the current year.

Cheesecake Factory Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date was Wednesday, May 13th. This represents a $1.20 annualized dividend and a dividend yield of 1.5%. Cheesecake Factory’s payout ratio is currently 35.09%.

Insider Activity at Cheesecake Factory

In related news, Chairman David Overton sold 104,000 shares of the firm’s stock in a transaction that occurred on Friday, May 1st. The stock was 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 in the company, valued at $187,928,114.58. This trade represents a 3.27% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Alexander L. Cappello sold 2,490 shares of Cheesecake Factory stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $64.90, for a total value of $161,601.00. Following the sale, the director directly owned 6,171 shares in the company, valued at $400,497.90. The trade was a 28.75% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 8.00% of the company’s stock.

Cheesecake Factory Company Profile

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.