The Cheesecake Factory Inc. (CAKE) Insider Sells $57,130.00 in Stock
The Cheesecake Factory Inc. (NASDAQ:CAKE) insider Cheryl Slomann sold 1,000 shares of The Cheesecake Factory stock in a transaction dated Thursday, November 17th. The stock was sold at an average price of $57.13, for a total transaction of $57,130.00. Following the transaction, the insider now directly owns 12,089 shares in the company, valued at $690,644.57. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
The Cheesecake Factory (NASDAQ:CAKE) last posted its quarterly earnings results on Wednesday, October 26th. The company reported $0.70 earnings per share for the quarter, topping the Zacks’ 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 business had revenue of $560 million for the quarter, compared to analysts’ expectations of $356.58 million. During the same period in the prior year, the company posted $0.59 EPS. The business’s revenue for the quarter was up 6.3% on a year-over-year basis.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 22nd. Stockholders of record on Wednesday, November 9th will be paid a dividend of $0.24 per share. The ex-dividend date is Monday, November 7th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.66%. The Cheesecake Factory’s dividend payout ratio (DPR) is presently 35.56%.
Several institutional investors have recently bought and sold shares of CAKE. Vanguard Group Inc. boosted its position in The Cheesecake Factory by 5.0% in the second quarter. Vanguard Group Inc. now owns 3,344,266 shares of the company’s stock worth $160,992,000 after buying an additional 159,860 shares during the period. BlackRock Fund Advisors boosted its position in The Cheesecake Factory by 5.7% in the third quarter. BlackRock Fund Advisors now owns 2,379,057 shares of the company’s stock worth $119,096,000 after buying an additional 127,771 shares during the period. BlackRock Institutional Trust Company N.A. boosted its position in The Cheesecake Factory by 7.9% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 1,607,009 shares of the company’s stock worth $77,361,000 after buying an additional 117,546 shares during the period. State Street Corp boosted its position in The Cheesecake Factory by 1.3% in the first quarter. State Street Corp now owns 1,511,119 shares of the company’s stock worth $80,223,000 after buying an additional 19,751 shares during the period. Finally, Kayne Anderson Rudnick Investment Management LLC boosted its position in The Cheesecake Factory by 16.1% in the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,390,747 shares of the company’s stock worth $69,620,000 after buying an additional 193,125 shares during the period. 89.77% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages have commented on CAKE. Stephens downgraded shares of The Cheesecake Factory from an “overweight” rating to an “equal weight” rating in a research note on Wednesday. Zacks Investment Research upgraded shares of The Cheesecake Factory from a “hold” rating to a “buy” rating and set a $58.00 price target for the company in a research report on Monday, August 1st. Jefferies Group reiterated a “hold” rating and set a $51.00 price target (up from $49.00) on shares of The Cheesecake Factory in a research report on Friday, October 28th. Barclays PLC lifted their price target on shares of The Cheesecake Factory from $53.00 to $54.00 and gave the company an “equal weight” rating in a research report on Thursday, July 28th. Finally, Telsey Advisory Group upgraded shares of The Cheesecake Factory from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $56.00 to $61.00 in a research report on Wednesday, November 9th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $56.26.
About The Cheesecake Factory
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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