The Cheesecake Factory Incorporated $CAKE is Delphi Management Inc. MA’s 6th Largest Position

Delphi Management Inc. MA decreased its holdings in The Cheesecake Factory Incorporated (NASDAQ:CAKE) by 8.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,016 shares of the restaurant operator’s stock after selling 2,262 shares during the period. Cheesecake Factory accounts for about 1.6% of Delphi Management Inc. MA’s holdings, making the stock its 6th biggest position. Delphi Management Inc. MA owned 0.05% of Cheesecake Factory worth $1,630,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of CAKE. Wellington Management Group LLP increased its stake in shares of Cheesecake Factory by 156.7% in the first quarter. Wellington Management Group LLP now owns 3,045,705 shares of the restaurant operator’s stock worth $148,204,000 after purchasing an additional 1,859,194 shares in the last quarter. Westwood Holdings Group Inc. purchased a new position in shares of Cheesecake Factory in the first quarter worth about $75,795,000. Invesco Ltd. increased its stake in shares of Cheesecake Factory by 83.5% in the first quarter. Invesco Ltd. now owns 2,591,205 shares of the restaurant operator’s stock worth $126,088,000 after purchasing an additional 1,178,722 shares in the last quarter. Driehaus Capital Management LLC purchased a new position in shares of Cheesecake Factory in the first quarter worth about $47,720,000. Finally, Victory Capital Management Inc. increased its stake in shares of Cheesecake Factory by 64.1% in the first quarter. Victory Capital Management Inc. now owns 1,766,131 shares of the restaurant operator’s stock worth $85,940,000 after purchasing an additional 689,784 shares in the last quarter. Hedge funds and other institutional investors own 94.48% of the company’s stock.

Insider Buying and Selling

In other news, Director Alexander L. Cappello sold 12,388 shares of the business’s stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $65.88, for a total value of $816,121.44. Following the completion of the sale, the director directly owned 6,806 shares in the company, valued at approximately $448,379.28. The trade was a 64.54% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, President David M. Gordon sold 43,335 shares of the business’s stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $63.06, for a total transaction of $2,732,705.10. Following the completion of the sale, the president owned 24,532 shares of the company’s stock, valued at approximately $1,546,987.92. The trade was a 63.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 8.40% of the company’s stock.

Cheesecake Factory Price Performance

Shares of Cheesecake Factory stock opened at $56.53 on Friday. The company has a current ratio of 0.51, a quick ratio of 0.42 and a debt-to-equity ratio of 1.40. The firm has a market capitalization of $2.82 billion, a PE ratio of 17.39, a price-to-earnings-growth ratio of 1.39 and a beta of 1.10. The business’s 50-day moving average price is $62.56 and its 200-day moving average price is $56.02. The Cheesecake Factory Incorporated has a 12 month low of $36.78 and a 12 month high of $69.70.

Cheesecake Factory (NASDAQ:CAKE) last announced its quarterly earnings data on Tuesday, July 29th. The restaurant operator reported $1.16 EPS for the quarter, beating the consensus estimate of $1.06 by $0.10. The firm had revenue of $955.83 million for the quarter, compared to analyst estimates of $945.82 million. Cheesecake Factory had a return on equity of 45.92% and a net margin of 4.33%.The company’s revenue was up 5.7% on a year-over-year basis. During the same period in the prior year, the company earned $1.09 EPS. Sell-side analysts forecast that The Cheesecake Factory Incorporated will post 3.71 EPS for the current fiscal year.

Cheesecake Factory Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 26th. Stockholders of record on Tuesday, August 12th were issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date was Tuesday, August 12th. Cheesecake Factory’s payout ratio is presently 33.23%.

Analyst Ratings Changes

Several brokerages recently commented on CAKE. Raymond James Financial boosted their price objective on shares of Cheesecake Factory from $70.00 to $73.00 and gave the company an “outperform” rating in a research note on Friday, August 15th. Robert W. Baird set a $64.00 price objective on shares of Cheesecake Factory and gave the company a “neutral” rating in a research note on Wednesday, July 30th. Morgan Stanley boosted their price objective on shares of Cheesecake Factory from $45.00 to $47.00 and gave the company an “underweight” rating in a research note on Thursday, July 31st. Wells Fargo & Company boosted their price objective on shares of Cheesecake Factory from $60.00 to $65.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 30th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Cheesecake Factory from $50.00 to $58.00 and gave the company an “underweight” rating in a research note on Wednesday, June 25th. Seven investment analysts have rated the stock with a Buy rating, five have given a Hold rating and four have issued a Sell rating to the company. According to MarketBeat, Cheesecake Factory presently has a consensus rating of “Hold” and an average price target of $61.94.

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.