The Cheesecake Factory Incorporated $CAKE Shares Newly Bought by Trek Financial LLC

Trek Financial LLC bought a new stake in shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 13,908 shares of the restaurant operator’s stock, valued at approximately $1,464,000.

Several other large investors also recently modified their holdings of the business. Dimensional Fund Advisors LP lifted its stake in shares of Cheesecake Factory by 2.4% in the first quarter. Dimensional Fund Advisors LP now owns 1,242,143 shares of the restaurant operator’s stock worth $68,008,000 after acquiring an additional 29,037 shares in the last quarter. Bank of New York Mellon Corp acquired a new stake in Cheesecake Factory during the 2nd quarter valued at approximately $38,020,000. Bamco Inc. NY acquired a new stake in Cheesecake Factory during the 2nd quarter valued at approximately $35,793,000. TD Waterhouse Canada Inc. acquired a new stake in Cheesecake Factory during the 3rd quarter valued at approximately $13,792,000. Finally, PDT Partners LLC acquired a new stake in Cheesecake Factory during the 2nd quarter valued at approximately $13,743,000. 94.48% of the stock is currently owned by institutional investors and hedge funds.

Cheesecake Factory Stock Up 0.3%

NASDAQ:CAKE opened at $112.96 on Tuesday. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.52 and a current ratio of 0.59. The company has a market capitalization of $5.62 billion, a price-to-earnings ratio of 26.77, a price-to-earnings-growth ratio of 1.48 and a beta of 1.04. The Cheesecake Factory Incorporated has a one year low of $43.07 and a one year high of $118.63. The stock has a 50-day simple moving average of $108.02 and a 200 day simple moving average of $79.94.

Cheesecake Factory (NASDAQ:CAKE) last announced its quarterly earnings data on Tuesday, October 27th. The restaurant operator reported $1.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.06. The firm had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1.01 billion. Cheesecake Factory had a return on equity of 46.95% and a net margin of 5.20%. Cheesecake Factory’s revenue for the quarter was up 13.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.66 earnings per share. Sell-side analysts predict that The Cheesecake Factory Incorporated will post 4.68 EPS for the current fiscal year.

Cheesecake Factory Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 24th. Shareholders of record on Tuesday, November 10th will be paid a dividend of $0.30 per share. The ex-dividend date is Tuesday, November 10th. This represents a $1.20 annualized dividend and a yield of 1.1%. Cheesecake Factory’s payout ratio is presently 28.44%.

Insider Activity

In other Cheesecake Factory news, Director Alexander Cappello sold 425 shares of the stock in a transaction on Thursday, October 29th. The shares were sold at an average price of $113.71, for a total transaction of $48,326.75. Following the sale, the director directly owned 3,428 shares of the company’s stock, valued at approximately $389,797.88. This represents a 11.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Scarlett May sold 2,939 shares of the stock in a transaction on Thursday, October 29th. The stock was sold at an average price of $114.12, for a total transaction of $335,398.68. Following the sale, the executive vice president directly owned 15,302 shares in the company, valued at $1,746,264.24. This trade represents a 16.11% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 158,249 shares of company stock valued at $17,139,354 over the last quarter. 8.00% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

CAKE has been the topic of a number of recent analyst reports. Oppenheimer upped their target price on Cheesecake Factory from $101.00 to $122.00 and gave the company an “outperform” rating in a research report on Tuesday, October 6th. William Blair reissued an “outperform” rating on shares of Cheesecake Factory in a research report on Thursday. Weiss Ratings raised shares of Cheesecake Factory from a “buy (b)” rating to a “buy (b+)” rating in a research report on Thursday, October 8th. Stephens restated an “equal weight” rating and issued a $100.00 price target on shares of Cheesecake Factory in a research note on Wednesday, October 28th. Finally, Zacks Research cut shares of Cheesecake Factory from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 28th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, twelve have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $95.47.

About Cheesecake Factory

The Cheesecake Factory Incorporated is a restaurant company best known for The Cheesecake Factory, a full-service casual dining brand offering an extensive menu of American and international-inspired dishes, along with a broad selection of cheesecakes and other desserts. The company also operates North Italia, an Italian restaurant concept, and owns Fox Restaurant Concepts, which develops and operates additional restaurant brands, including Flower Child and Culinary Dropout.

The company was founded by David Overton, who opened the first Cheesecake Factory restaurant in Beverly Hills, California, in 1978 after his parents began a cheesecake business.