Future Fund LLC Buys 10,315 Shares of The Cheesecake Factory Incorporated $CAKE

Future Fund LLC boosted its stake in The Cheesecake Factory Incorporated (NASDAQ:CAKE) by 27.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 47,661 shares of the restaurant operator’s stock after buying an additional 10,315 shares during the quarter. Future Fund LLC’s holdings in Cheesecake Factory were worth $2,609,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of CAKE. Invesco Ltd. boosted its holdings in Cheesecake Factory by 13.6% during the 4th quarter. Invesco Ltd. now owns 2,337,671 shares of the restaurant operator’s stock worth $118,006,000 after acquiring an additional 280,553 shares during the last quarter. State Street Corp grew its stake in shares of Cheesecake Factory by 0.3% in the 4th quarter. State Street Corp now owns 1,785,955 shares of the restaurant operator’s stock worth $90,155,000 after acquiring an additional 4,535 shares in the last quarter. Victory Capital Management Inc. raised its holdings in shares of Cheesecake Factory by 16.4% in the fourth quarter. Victory Capital Management Inc. now owns 1,474,320 shares of the restaurant operator’s stock valued at $74,424,000 after purchasing an additional 207,788 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Cheesecake Factory by 0.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,213,106 shares of the restaurant operator’s stock valued at $61,235,000 after purchasing an additional 5,910 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Cheesecake Factory by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 1,152,174 shares of the restaurant operator’s stock valued at $58,170,000 after purchasing an additional 4,577 shares in the last quarter. 94.48% of the stock is currently owned by institutional investors.

Insider Activity at Cheesecake Factory

In other news, Chairman David Overton sold 104,000 shares of the firm’s stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $61.02, for a total transaction of $6,346,080.00. Following the completion of the sale, the chairman 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Alexander L. Cappello sold 2,490 shares of Cheesecake Factory stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $64.90, for a total transaction of $161,601.00. Following the completion of the sale, the director directly owned 6,171 shares in the company, valued at $400,497.90. This trade represents a 28.75% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 8.00% of the company’s stock.

Cheesecake Factory Trading Up 3.0%

NASDAQ CAKE opened at $85.77 on Friday. The business’s fifty day moving average is $71.36 and its 200-day moving average is $63.55. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.59 and a quick ratio of 0.53. The stock has a market capitalization of $4.26 billion, a price-to-earnings ratio of 25.08, a PEG ratio of 2.00 and a beta of 1.01. The Cheesecake Factory Incorporated has a one year low of $43.07 and a one year high of $86.66.

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

Cheesecake Factory Announces Dividend

The business also recently announced 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. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend was Wednesday, May 13th. Cheesecake Factory’s dividend payout ratio is currently 35.09%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on CAKE shares. Barclays boosted their price target on shares of Cheesecake Factory from $58.00 to $60.00 and gave the stock an “underweight” rating in a report on Thursday, April 30th. Robert W. Baird set a $65.00 price objective on shares of Cheesecake Factory in a research note on Thursday, April 30th. Oppenheimer lifted their target price on shares of Cheesecake Factory from $68.00 to $72.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 21st. Citigroup boosted their target price on Cheesecake Factory from $76.00 to $90.00 and gave the stock a “buy” rating in a research note on Friday, July 10th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $68.00 target price on shares of Cheesecake Factory in a report on Thursday, April 30th. Six research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $67.75.

Cheesecake Factory 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.