Crestline Management LP Takes $524,000 Position in The Cheesecake Factory Incorporated (NASDAQ:CAKE)

Crestline Management LP bought a new position in The Cheesecake Factory Incorporated (NASDAQ:CAKE) during the fourth quarter, Holdings Channel.com reports. The fund bought 11,042 shares of the restaurant operator’s stock, valued at approximately $524,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Lido Advisors LLC lifted its position in shares of Cheesecake Factory by 2.0% during the 4th quarter. Lido Advisors LLC now owns 10,805 shares of the restaurant operator’s stock valued at $513,000 after acquiring an additional 215 shares during the last quarter. Summit Investment Advisors Inc. raised its position in shares of Cheesecake Factory by 4.7% during the fourth quarter. Summit Investment Advisors Inc. now owns 5,051 shares of the restaurant operator’s stock worth $240,000 after purchasing an additional 228 shares during the period. Truist Financial Corp lifted its holdings in shares of Cheesecake Factory by 3.3% during the fourth quarter. Truist Financial Corp now owns 8,045 shares of the restaurant operator’s stock valued at $382,000 after purchasing an additional 257 shares during the last quarter. Blair William & Co. IL boosted its position in shares of Cheesecake Factory by 5.2% in the 4th quarter. Blair William & Co. IL now owns 5,772 shares of the restaurant operator’s stock valued at $274,000 after purchasing an additional 283 shares during the period. Finally, Golden State Wealth Management LLC purchased a new position in Cheesecake Factory in the 4th quarter worth about $25,000. 94.48% of the stock is currently owned by institutional investors.

Insider Activity at Cheesecake Factory

In related news, Chairman David Overton sold 100,000 shares of the stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $53.08, for a total transaction of $5,308,000.00. Following the completion of the sale, the chairman now owns 3,092,147 shares in the company, valued at $164,131,162.76. This represents a 3.13 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Matthew Eliot Clark sold 29,000 shares of Cheesecake Factory stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $53.56, for a total value of $1,553,240.00. Following the completion of the transaction, the chief financial officer now directly owns 39,856 shares in the company, valued at approximately $2,134,687.36. This represents a 42.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.40% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of analysts have commented on the stock. UBS Group upped their price objective on shares of Cheesecake Factory from $41.00 to $45.00 and gave the company a “sell” rating in a research note on Thursday, February 20th. Robert W. Baird upped their price target on shares of Cheesecake Factory from $46.00 to $49.00 and gave the company a “neutral” rating in a research report on Thursday, May 1st. Wells Fargo & Company lifted their price objective on shares of Cheesecake Factory from $45.00 to $50.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 1st. Morgan Stanley increased their target price on Cheesecake Factory from $39.00 to $40.00 and gave the company an “underweight” rating in a report on Thursday, May 1st. Finally, Stephens reiterated an “overweight” rating and set a $60.00 price target on shares of Cheesecake Factory in a report on Thursday, May 1st. Four investment analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $53.60.

Cheesecake Factory Trading Up 0.5 %

Shares of NASDAQ:CAKE opened at $50.17 on Friday. The Cheesecake Factory Incorporated has a 1 year low of $33.50 and a 1 year high of $57.32. The firm has a fifty day moving average price of $48.51 and a 200 day moving average price of $49.44. The stock has a market capitalization of $2.48 billion, a PE ratio of 15.68, a P/E/G ratio of 1.31 and a beta of 1.11. The company has a current ratio of 0.44, a quick ratio of 0.33 and a debt-to-equity ratio of 1.19.

Cheesecake Factory (NASDAQ:CAKE) last issued its quarterly earnings data on Wednesday, April 30th. The restaurant operator reported $0.93 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.12. Cheesecake Factory had a return on equity of 45.89% and a net margin of 4.38%. The business had revenue of $927.20 million for the quarter, compared to the consensus estimate of $927.17 million. During the same period last year, the business earned $0.73 EPS. The firm’s revenue was up 4.0% compared to the same quarter last year. Analysts expect that The Cheesecake Factory Incorporated will post 3.71 EPS for the current fiscal year.

Cheesecake Factory Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 27th. Investors of record on Wednesday, May 14th will be paid a $0.27 dividend. The ex-dividend date of this dividend is Wednesday, May 14th. This represents a $1.08 dividend on an annualized basis and a yield of 2.15%. Cheesecake Factory’s payout ratio is presently 33.86%.

Cheesecake Factory Profile

The Cheesecake Factory Incorporated operates and licenses restaurants in the United States and Canada. The company operates bakeries that produce cheesecakes and other baked products for its restaurants, international licensees, third-party bakery customers, external foodservice operators, retailers, and distributors.