The Cheesecake Factory Inc. (CAKE) Director Sells $427,425.00 in Stock
The Cheesecake Factory Inc. (NASDAQ:CAKE) Director Jerome I. Kransdorf sold 7,500 shares of the business’s stock in a transaction on Thursday, November 17th. The stock was sold at an average price of $56.99, for a total transaction of $427,425.00. Following the completion of the sale, the director now directly owns 21,250 shares in the company, valued at approximately $1,211,037.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Shares of The Cheesecake Factory Inc. (NASDAQ:CAKE) opened at 57.74 on Friday. The company has a market capitalization of $2.64 billion, a P/E ratio of 21.40 and a beta of 0.15. The stock’s 50 day moving average is $52.38 and its 200 day moving average is $51.05. The Cheesecake Factory Inc. has a 52-week low of $44.16 and a 52-week high of $60.16.
The Cheesecake Factory (NASDAQ:CAKE) last posted its earnings results on Wednesday, October 26th. The company reported $0.70 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.61 by $0.09. The Cheesecake Factory had a net margin of 6.11% and a return on equity of 22.76%. The firm earned $560 million during the quarter, compared to analysts’ expectations of $356.58 million. During the same period last year, the company posted $0.59 EPS. The company’s quarterly revenue was up 6.3% compared to the same quarter last year. Equities analysts expect that The Cheesecake Factory Inc. will post $2.84 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 22nd. Stockholders of record on Wednesday, November 9th will be given a $0.24 dividend. The ex-dividend date of this dividend is Monday, November 7th. This represents a $0.96 annualized dividend and a dividend yield of 1.66%. The Cheesecake Factory’s dividend payout ratio is 35.56%.
Several large investors have recently bought and sold shares of CAKE. Victory Capital Management Inc. boosted its stake in The Cheesecake Factory by 77.3% in the second quarter. Victory Capital Management Inc. now owns 2,191 shares of the company’s stock valued at $105,000 after buying an additional 955 shares in the last quarter. Huntington National Bank boosted its stake in The Cheesecake Factory by 93.1% in the second quarter. Huntington National Bank now owns 2,346 shares of the company’s stock valued at $113,000 after buying an additional 1,131 shares in the last quarter. LS Investment Advisors LLC boosted its stake in The Cheesecake Factory by 66.1% in the second quarter. LS Investment Advisors LLC now owns 2,740 shares of the company’s stock valued at $132,000 after buying an additional 1,090 shares in the last quarter. KBC Group NV bought a new stake in The Cheesecake Factory during the third quarter valued at approximately $134,000. Finally, Bruderman Asset Management LLC boosted its stake in The Cheesecake Factory by 0.4% in the third quarter. Bruderman Asset Management LLC now owns 3,394 shares of the company’s stock valued at $170,000 after buying an additional 13 shares in the last quarter. 89.77% of the stock is owned by hedge funds and other institutional investors.
Several brokerages recently weighed in on CAKE. Stephens cut shares of The Cheesecake Factory from an “overweight” rating to an “equal weight” rating in a research note on Wednesday. Argus raised shares of The Cheesecake Factory from a “hold” rating to a “buy” rating and set a $69.00 price objective on the stock in a research note on Tuesday. They noted that the move was a valuation call. Maxim Group cut shares of The Cheesecake Factory from a “buy” rating to a “hold” rating and set a $59.00 price objective on the stock. in a research note on Tuesday. Telsey Advisory Group raised shares of The Cheesecake Factory from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $56.00 to $61.00 in a research note on Wednesday, November 9th. Finally, Jefferies Group reissued a “hold” rating and issued a $51.00 price objective (up previously from $49.00) on shares of The Cheesecake Factory in a research note on Friday, October 28th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The Cheesecake Factory currently has a consensus rating of “Hold” and an average target price of $56.26.
The Cheesecake Factory Company Profile
The Cheesecake Factory Incorporated is engaged in the restaurant and bakery business. The Company operates approximately 200 Company-owned restaurants, including approximately 190 restaurants under The Cheesecake Factory mark and approximately 10 restaurants under the Grand Lux Cafe mark. The Company’s segments include The Cheesecake Factory restaurants, and other, which includes Grand Lux Cafe, RockSugar Pan Asian Kitchen, bakery and international licensing.
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