Cheesecake Factory (NASDAQ:CAKE) Director Janice Meyer Sells 1,958 Shares of Stock

The Cheesecake Factory Incorporated (NASDAQ:CAKE) Director Janice Meyer sold 1,958 shares of Cheesecake Factory stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $109.36, for a total transaction of $214,126.88. Following the completion of the sale, the director owned 21,251 shares of the company’s stock, valued at $2,324,009.36. This trade represents a 8.44% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Cheesecake Factory Stock Down 2.5%

Shares of NASDAQ CAKE opened at $106.36 on Wednesday. The company has a quick ratio of 0.52, a current ratio of 0.59 and a debt-to-equity ratio of 1.08. The business’s 50 day moving average is $88.22 and its two-hundred day moving average is $70.47. The Cheesecake Factory Incorporated has a 52-week low of $43.07 and a 52-week high of $118.46. The firm has a market cap of $5.29 billion, a price-to-earnings ratio of 28.82, a PEG ratio of 2.03 and a beta of 1.00.

Cheesecake Factory (NASDAQ:CAKE) last released its quarterly earnings results on Tuesday, July 28th. The restaurant operator reported $1.44 EPS for the quarter, topping the consensus estimate of $1.18 by $0.26. The business had revenue of $1.03 billion during the quarter, compared to analyst estimates of $999.54 million. Cheesecake Factory had a return on equity of 43.97% and a net margin of 4.61%.The company’s quarterly revenue was up 7.7% on a year-over-year basis. During the same period last year, the business posted $1.16 earnings per share. Research analysts predict that The Cheesecake Factory Incorporated will post 4.47 EPS for the current year.

Cheesecake Factory Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 25th. Shareholders of record on Tuesday, August 11th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Tuesday, August 11th. Cheesecake Factory’s payout ratio is currently 32.52%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Barclays increased their price target on shares of Cheesecake Factory from $58.00 to $60.00 and gave the stock an “underweight” rating in a research report on Thursday, April 30th. Weiss Ratings upgraded shares of Cheesecake Factory from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, August 13th. Stephens reissued a “positive” rating on shares of Cheesecake Factory in a research report on Wednesday, July 29th. Robert W. Baird boosted their price target on shares of Cheesecake Factory from $65.00 to $90.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 29th. Finally, Citigroup boosted their price target on shares of Cheesecake Factory from $76.00 to $90.00 and gave the stock a “buy” rating in a research note on Friday, July 10th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $81.00.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in CAKE. Allworth Financial LP acquired a new stake in shares of Cheesecake Factory in the 2nd quarter valued at $36,000. Salomon & Ludwin LLC increased its holdings in Cheesecake Factory by 226.5% in the fourth quarter. Salomon & Ludwin LLC now owns 604 shares of the restaurant operator’s stock valued at $33,000 after buying an additional 419 shares during the last quarter. NFSG Corp raised its stake in Cheesecake Factory by 115.8% in the first quarter. NFSG Corp now owns 682 shares of the restaurant operator’s stock valued at $37,000 after buying an additional 366 shares in the last quarter. Global Retirement Partners LLC purchased a new stake in Cheesecake Factory during the 2nd quarter worth about $57,000. Finally, Root Financial Partners LLC boosted its position in shares of Cheesecake Factory by 973.2% during the 4th quarter. Root Financial Partners LLC now owns 880 shares of the restaurant operator’s stock worth $44,000 after acquiring an additional 798 shares in the last quarter. Hedge funds and other institutional investors own 94.48% of the company’s stock.

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.