The Cheesecake Factory Incorporated $CAKE Shares Acquired by Wellington Management Group LLP

Wellington Management Group LLP boosted its stake in shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE) by 156.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,045,705 shares of the restaurant operator’s stock after buying an additional 1,859,194 shares during the period. Wellington Management Group LLP owned 0.06% of Cheesecake Factory worth $148,204,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. USA Financial Formulas acquired a new position in Cheesecake Factory during the first quarter worth $49,000. Golden State Wealth Management LLC boosted its stake in Cheesecake Factory by 100.0% during the first quarter. Golden State Wealth Management LLC now owns 1,060 shares of the restaurant operator’s stock worth $52,000 after buying an additional 530 shares during the last quarter. SBI Securities Co. Ltd. boosted its stake in Cheesecake Factory by 38.5% during the first quarter. SBI Securities Co. Ltd. now owns 1,244 shares of the restaurant operator’s stock worth $61,000 after buying an additional 346 shares during the last quarter. Bayforest Capital Ltd acquired a new position in Cheesecake Factory during the first quarter worth $72,000. Finally, FORA Capital LLC acquired a new stake in shares of Cheesecake Factory during the 4th quarter worth approximately $203,000. Institutional investors and hedge funds own 94.48% of the company’s stock.

Cheesecake Factory Trading Down 0.3%

Shares of NASDAQ CAKE opened at $61.92 on Thursday. The Cheesecake Factory Incorporated has a twelve month low of $35.40 and a twelve month high of $69.70. 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 stock has a fifty day simple moving average of $62.65 and a 200-day simple moving average of $55.24. The stock has a market capitalization of $3.08 billion, a PE ratio of 19.05, a PEG ratio of 1.48 and a beta of 1.17.

Cheesecake Factory (NASDAQ:CAKE) last issued its quarterly earnings data on Tuesday, July 29th. The restaurant operator reported $1.16 earnings per share for the quarter, beating analysts’ consensus estimates of $1.06 by $0.10. Cheesecake Factory had a return on equity of 45.92% and a net margin of 4.33%.The business had revenue of $955.83 million during the quarter, compared to analysts’ expectations of $945.82 million. During the same period in the previous year, the firm posted $1.09 earnings per share. The company’s revenue was up 5.7% on a year-over-year basis. On average, equities analysts forecast that The Cheesecake Factory Incorporated will post 3.71 earnings per share for the current year.

Cheesecake Factory Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 26th. Shareholders of record on Tuesday, August 12th will be issued a dividend of $0.27 per share. The ex-dividend date is Tuesday, August 12th. This represents a $1.08 dividend on an annualized basis and a yield of 1.7%. Cheesecake Factory’s dividend payout ratio is 33.23%.

Insider Buying and Selling

In other Cheesecake Factory news, President David M. Gordon sold 43,335 shares of the firm’s stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $63.06, for a total value of $2,732,705.10. Following the completion of the transaction, the president owned 24,532 shares of the company’s stock, valued at $1,546,987.92. This trade represents a 63.85% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Alexander L. Cappello sold 12,388 shares of the firm’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 transaction of $816,121.44. Following the completion of the transaction, the director directly owned 6,806 shares of the company’s stock, valued at $448,379.28. This represents a 64.54% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 188,723 shares of company stock worth $11,005,819 over the last three months. 8.40% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Argus set a $60.00 price target on shares of Cheesecake Factory in a report on Wednesday, May 14th. Piper Sandler raised their price target on shares of Cheesecake Factory from $54.00 to $62.00 and gave the stock a “neutral” rating in a report on Monday, August 4th. Oppenheimer raised their price target on shares of Cheesecake Factory from $65.00 to $75.00 and gave the stock an “outperform” rating in a report on Friday, July 11th. Wells Fargo & Company raised their price target on shares of Cheesecake Factory from $60.00 to $65.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 30th. Finally, Stephens reaffirmed an “overweight” rating and issued a $60.00 target price on shares of Cheesecake Factory in a research report on Thursday, May 1st. Seven equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat.com, Cheesecake Factory presently has an average rating of “Hold” and an average target price of $61.94.

About Cheesecake Factory

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.