Insider Selling: Cheesecake Factory (NASDAQ:CAKE) EVP Sells 7,978 Shares

The Cheesecake Factory Incorporated (NASDAQ:CAKE) EVP Scarlett May sold 7,978 shares of the business’s stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $102.66, for a total transaction of $819,021.48. Following the completion of the sale, the executive vice president directly owned 18,241 shares of the company’s stock, valued at approximately $1,872,621.06. The trade was a 30.43% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.

Cheesecake Factory Price Performance

NASDAQ:CAKE traded up $3.47 during trading hours on Monday, reaching $104.89. 1,640,042 shares of the company were exchanged, compared to its average volume of 1,369,994. The business has a 50 day moving average of $77.60 and a 200 day moving average of $66.20. The Cheesecake Factory Incorporated has a 1-year low of $43.07 and a 1-year high of $105.18. 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 company has a market capitalization of $5.21 billion, a P/E ratio of 28.43, a P/E/G ratio of 1.83 and a beta of 1.01.

Cheesecake Factory (NASDAQ:CAKE) last issued its quarterly earnings results on Tuesday, July 28th. The restaurant operator reported $1.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.18 by $0.26. Cheesecake Factory had a return on equity of 45.94% and a net margin of 4.61%.The company had revenue of $1.03 billion for the quarter, compared to analyst estimates of $999.54 million. During the same quarter last year, the company posted $1.16 EPS. The company’s revenue for the quarter was up 7.7% compared to the same quarter last year. Research analysts forecast that The Cheesecake Factory Incorporated will post 4.43 EPS for the current year.

Cheesecake Factory Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 25th. Shareholders of record on Tuesday, August 11th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Tuesday, August 11th. Cheesecake Factory’s dividend payout ratio (DPR) is presently 32.52%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CAKE. Northcoast Research downgraded Cheesecake Factory from a “buy” rating to a “neutral” rating in a report on Monday, June 15th. Zacks Research upgraded shares of Cheesecake Factory from a “hold” rating to a “strong-buy” rating in a research report on Thursday. Mizuho raised their price target on shares of Cheesecake Factory from $85.00 to $93.00 and gave the stock a “neutral” rating in a report on Wednesday, July 29th. UBS Group lifted their price target on shares of Cheesecake Factory from $53.00 to $60.00 and gave the company a “sell” rating in a research note on Thursday, July 23rd. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $68.00 price objective on shares of Cheesecake Factory in a report on Thursday, April 30th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $79.81.

Hedge Funds Weigh In On Cheesecake Factory

Several large investors have recently bought and sold shares of CAKE. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Cheesecake Factory by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,742 shares of the restaurant operator’s stock worth $1,399,000 after acquiring an additional 1,268 shares during the period. Woodline Partners LP increased its position in shares of Cheesecake Factory by 30.9% during the 1st quarter. Woodline Partners LP now owns 92,664 shares of the restaurant operator’s stock valued at $4,509,000 after purchasing an additional 21,887 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Cheesecake Factory by 8.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 109,800 shares of the restaurant operator’s stock worth $5,343,000 after purchasing an additional 8,592 shares during the period. Northwestern Mutual Wealth Management Co. raised its stake in shares of Cheesecake Factory by 32.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,333 shares of the restaurant operator’s stock worth $83,000 after purchasing an additional 323 shares during the period. Finally, First Trust Advisors LP boosted its holdings in shares of Cheesecake Factory by 5.0% in the 2nd quarter. First Trust Advisors LP now owns 112,020 shares of the restaurant operator’s stock worth $7,019,000 after buying an additional 5,326 shares during the last quarter. 94.48% of the stock is currently owned by institutional investors.

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.