The Cheesecake Factory Incorporated (CAKE) to Issue Quarterly Dividend of $0.30 on August 25th

The Cheesecake Factory Incorporated (NASDAQ:CAKE) declared a quarterly dividend on Tuesday, July 28th. Investors of record on Tuesday, August 11th will be given a dividend of 0.30 per share by the restaurant operator on Tuesday, August 25th. This represents a c) dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Tuesday, August 11th.

Cheesecake Factory has increased its dividend by an average of 0.2%per year over the last three years. Cheesecake Factory has a payout ratio of 29.4% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Cheesecake Factory to earn $4.45 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 27.0%.

Cheesecake Factory Stock Up 13.6%

CAKE opened at $101.14 on Thursday. The company has a market capitalization of $5.03 billion, a PE ratio of 27.41, a price-to-earnings-growth ratio of 2.07 and a beta of 1.01. The firm has a 50-day simple moving average of $75.98 and a two-hundred day simple moving average of $65.60. The company has a quick ratio of 0.53, a current ratio of 0.59 and a debt-to-equity ratio of 1.22. Cheesecake Factory has a 52 week low of $43.07 and a 52 week high of $101.81.

Cheesecake Factory (NASDAQ:CAKE) last posted its earnings results on Tuesday, July 28th. The restaurant operator reported $1.44 earnings per share for the quarter, beating analysts’ consensus estimates of $1.18 by $0.26. Cheesecake Factory had a net margin of 4.61% and a return on equity of 45.94%. The firm had revenue of $1.03 billion during the quarter, compared to analyst estimates of $999.54 million. During the same period last year, the firm posted $1.16 earnings per share. Cheesecake Factory’s revenue for the quarter was up 7.7% compared to the same quarter last year. Analysts forecast that Cheesecake Factory will post 4.06 earnings per share for the current fiscal year.

Insider Buying and Selling at Cheesecake Factory

In other Cheesecake Factory news, Director Alexander L. Cappello sold 2,490 shares of Cheesecake Factory stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $64.90, for a total value of $161,601.00. Following the sale, the director owned 6,171 shares in the company, valued at $400,497.90. The trade was a 28.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman David Overton sold 104,000 shares of the business’s stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $61.02, for a total transaction of $6,346,080.00. Following the completion of the sale, the chairman owned 3,079,779 shares in the company, valued at approximately $187,928,114.58. This trade represents a 3.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 8.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Cheesecake Factory

A number of hedge funds and other institutional investors have recently bought and sold shares of CAKE. Salomon & Ludwin LLC grew its stake in shares of Cheesecake Factory by 226.5% in the fourth quarter. Salomon & Ludwin LLC now owns 604 shares of the restaurant operator’s stock worth $33,000 after acquiring an additional 419 shares in the last quarter. NFSG Corp boosted its holdings in shares of 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 acquiring an additional 366 shares in the last quarter. Global Retirement Partners LLC increased its position in Cheesecake Factory by 661.7% during the 4th quarter. Global Retirement Partners LLC now owns 716 shares of the restaurant operator’s stock worth $36,000 after purchasing an additional 622 shares during the period. Root Financial Partners LLC grew its holdings in Cheesecake Factory by 973.2% during the fourth quarter. Root Financial Partners LLC now owns 880 shares of the restaurant operator’s stock worth $44,000 after acquiring an additional 798 shares during the period. Finally, Arax Advisory Partners acquired a new stake in shares of Cheesecake Factory in the fourth quarter valued at about $50,000. 94.48% of the stock is currently owned by hedge funds and other 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.