Odyssean LLC Grows Position in The Cheesecake Factory Incorporated $CAKE

Odyssean LLC raised its stake in The Cheesecake Factory Incorporated (NASDAQ:CAKE) by 66.1% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 39,490 shares of the restaurant operator’s stock after acquiring an additional 15,720 shares during the quarter. Odyssean LLC owned approximately 0.08% of Cheesecake Factory worth $3,141,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Woodline Partners LP lifted its holdings in Cheesecake Factory by 1,059.3% in the 3rd quarter. Woodline Partners LP now owns 618,056 shares of the restaurant operator’s stock valued at $33,771,000 after purchasing an additional 564,744 shares in the last quarter. Bank of New York Mellon Corp purchased a new stake in shares of Cheesecake Factory during the second quarter worth about $38,020,000. Invesco Ltd. grew its holdings in shares of Cheesecake Factory by 24.7% during the third quarter. Invesco Ltd. now owns 2,057,118 shares of the restaurant operator’s stock worth $112,401,000 after buying an additional 407,223 shares in the last quarter. Millennium Management LLC raised its position in shares of Cheesecake Factory by 214.3% in the fourth quarter. Millennium Management LLC now owns 512,085 shares of the restaurant operator’s stock valued at $25,850,000 after buying an additional 349,168 shares during the last quarter. Finally, Engineers Gate Manager LP raised its position in shares of Cheesecake Factory by 1,583.7% in the fourth quarter. Engineers Gate Manager LP now owns 287,219 shares of the restaurant operator’s stock valued at $14,499,000 after buying an additional 270,160 shares during the last quarter. 94.48% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Zacks Research upgraded shares of Cheesecake Factory from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 30th. Robert W. Baird boosted their price target on Cheesecake Factory from $65.00 to $90.00 and gave the company a “neutral” rating in a report on Wednesday, July 29th. UBS Group increased their price target on Cheesecake Factory from $53.00 to $60.00 and gave the stock a “sell” rating in a research note on Thursday, July 23rd. Northcoast Research cut Cheesecake Factory from a “buy” rating to a “neutral” rating in a report on Monday, June 15th. Finally, Wells Fargo & Company lifted their price objective on Cheesecake Factory from $65.00 to $75.00 and gave the company an “equal weight” rating in a research report on Thursday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $81.00.

Cheesecake Factory Trading Down 1.0%

Shares of CAKE stock opened at $113.49 on Wednesday. The stock has a market cap of $5.65 billion, a price-to-earnings ratio of 30.76, a price-to-earnings-growth ratio of 2.05 and a beta of 1.00. 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 Cheesecake Factory Incorporated has a fifty-two week low of $43.07 and a fifty-two week high of $118.46. The firm’s 50 day moving average price is $91.94 and its two-hundred day moving average price is $72.28.

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

Cheesecake Factory Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 25th. Investors of record on Tuesday, August 11th were given 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 of this dividend was Tuesday, August 11th. Cheesecake Factory’s dividend payout ratio is 32.52%.

Insider Activity

In related news, EVP Scarlett May sold 7,978 shares of the stock in a transaction on Friday, July 31st. The stock was sold at an average price of $102.66, for a total value of $819,021.48. Following the completion of the sale, the executive vice president directly owned 18,241 shares in the company, valued at approximately $1,872,621.06. This represents a 30.43% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman David Overton sold 94,145 shares of the stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $106.27, for a total value of $10,004,789.15. Following the completion of the sale, the chairman owned 89,805 shares of the company’s stock, valued at approximately $9,543,577.35. This represents a 51.18% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 216,239 shares of company stock worth $22,463,500 in the last quarter. Insiders own 8.00% 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.