Intech Investment Management LLC Raises Stock Position in The Cheesecake Factory Incorporated (NASDAQ:CAKE)

Intech Investment Management LLC raised its position in The Cheesecake Factory Incorporated (NASDAQ:CAKE) by 48.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 26,528 shares of the restaurant operator’s stock after purchasing an additional 8,692 shares during the period. Intech Investment Management LLC’s holdings in Cheesecake Factory were worth $1,258,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in CAKE. Hennessy Advisors Inc. bought a new position in Cheesecake Factory in the 4th quarter worth about $63,114,000. Victory Capital Management Inc. raised its stake in Cheesecake Factory by 166.9% in the fourth quarter. Victory Capital Management Inc. now owns 1,076,347 shares of the restaurant operator’s stock valued at $51,062,000 after purchasing an additional 673,076 shares in the last quarter. Ruffer LLP bought a new stake in Cheesecake Factory during the fourth quarter valued at approximately $9,401,000. Edgestream Partners L.P. purchased a new position in Cheesecake Factory in the 4th quarter worth approximately $3,408,000. Finally, State Street Corp increased its holdings in shares of Cheesecake Factory by 3.7% in the 3rd quarter. State Street Corp now owns 1,876,295 shares of the restaurant operator’s stock worth $76,084,000 after buying an additional 67,550 shares during the last quarter. 94.48% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Chairman David Overton sold 100,000 shares of the business’s stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $53.08, for a total transaction of $5,308,000.00. Following the sale, the chairman now owns 3,092,147 shares of the company’s stock, valued at $164,131,162.76. The trade was a 3.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at 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 shares were sold at an average price of $53.56, for a total transaction of $1,553,240.00. Following the transaction, the chief financial officer now owns 39,856 shares of the company’s stock, valued at $2,134,687.36. The trade was a 42.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 8.10% of the company’s stock.

Cheesecake Factory Price Performance

Shares of CAKE stock opened at $48.70 on Friday. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.33 and a current ratio of 0.44. The Cheesecake Factory Incorporated has a fifty-two week low of $33.05 and a fifty-two week high of $57.32. The firm has a market cap of $2.52 billion, a P/E ratio of 15.22, a P/E/G ratio of 1.31 and a beta of 1.55. The business’s 50 day moving average price is $51.50 and its 200-day moving average price is $47.10.

Cheesecake Factory (NASDAQ:CAKE) last issued its quarterly earnings data on Wednesday, February 19th. The restaurant operator reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.13. The business had revenue of $920.96 million for the quarter, compared to the consensus estimate of $912.67 million. Cheesecake Factory had a net margin of 4.38% and a return on equity of 45.89%. On average, equities research analysts anticipate that The Cheesecake Factory Incorporated will post 3.71 earnings per share for the current year.

Cheesecake Factory Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Wednesday, March 5th were given a dividend of $0.27 per share. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $1.08 annualized dividend and a yield of 2.22%. Cheesecake Factory’s payout ratio is 33.75%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on CAKE shares. Wells Fargo & Company increased their target price on Cheesecake Factory from $45.00 to $52.00 and gave the company an “equal weight” rating in a research note on Thursday, February 20th. The Goldman Sachs Group raised their price objective on Cheesecake Factory from $56.00 to $64.00 and gave the company a “buy” rating in a report on Thursday, February 6th. Jefferies Financial Group upped their target price on Cheesecake Factory from $49.00 to $58.00 and gave the stock a “buy” rating in a research note on Monday, December 16th. Barclays lifted their price target on shares of Cheesecake Factory from $46.00 to $50.00 and gave the stock an “underweight” rating in a research note on Thursday, February 20th. Finally, Piper Sandler upped their price objective on shares of Cheesecake Factory from $47.00 to $51.00 and gave the company a “neutral” rating in a research note on Thursday, February 20th. Four analysts have rated the stock with a sell rating, six have issued a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, Cheesecake Factory currently has a consensus rating of “Hold” and a consensus target price of $52.81.

Cheesecake Factory Company 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.