Future Fund LLC Grows Holdings in The Cheesecake Factory Incorporated $CAKE

Future Fund LLC increased its position in shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE) by 43.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 37,346 shares of the restaurant operator’s stock after purchasing an additional 11,296 shares during the quarter. Future Fund LLC owned approximately 0.07% of Cheesecake Factory worth $1,885,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CAKE. Woodline Partners LP boosted its holdings in Cheesecake Factory by 1,059.3% during the third quarter. Woodline Partners LP now owns 618,056 shares of the restaurant operator’s stock worth $33,771,000 after purchasing an additional 564,744 shares during the last quarter. Invesco Ltd. raised its position in Cheesecake Factory by 24.7% in the third quarter. Invesco Ltd. now owns 2,057,118 shares of the restaurant operator’s stock worth $112,401,000 after acquiring an additional 407,223 shares during the period. Voloridge Investment Management LLC raised its position in Cheesecake Factory by 54.0% in the third quarter. Voloridge Investment Management LLC now owns 747,046 shares of the restaurant operator’s stock worth $40,819,000 after acquiring an additional 262,081 shares during the period. Qube Research & Technologies Ltd bought a new stake in Cheesecake Factory in the third quarter worth about $9,455,000. Finally, Engineers Gate Manager LP bought a new stake in Cheesecake Factory in the second quarter worth about $8,050,000. 94.48% of the stock is currently owned by hedge funds and other institutional investors.

Cheesecake Factory Stock Performance

NASDAQ CAKE opened at $66.04 on Friday. The company’s 50 day moving average is $59.69 and its 200-day moving average is $56.75. The Cheesecake Factory Incorporated has a 12-month low of $43.07 and a 12-month high of $69.70. The company has a quick ratio of 0.53, a current ratio of 0.59 and a debt-to-equity ratio of 1.22. The firm has a market cap of $3.28 billion, a P/E ratio of 19.31, a price-to-earnings-growth ratio of 1.54 and a beta of 1.04.

Cheesecake Factory (NASDAQ:CAKE) last posted its quarterly earnings results on Wednesday, April 29th. The restaurant operator reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.03 by $0.02. Cheesecake Factory had a net margin of 4.34% and a return on equity of 43.74%. The company had revenue of $978.83 million for the quarter, compared to analyst estimates of $964.57 million. During the same quarter in the previous year, the firm posted $0.93 earnings per share. The company’s quarterly revenue was up 5.6% compared to the same quarter last year. Sell-side analysts predict that The Cheesecake Factory Incorporated will post 4.01 earnings per share for the current year.

Cheesecake Factory Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 26th. Investors of record on Wednesday, May 13th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend was Wednesday, May 13th. Cheesecake Factory’s dividend payout ratio is 35.09%.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Mizuho set a $75.00 price objective on shares of Cheesecake Factory in a research report on Thursday, February 19th. Citigroup lifted their price objective on shares of Cheesecake Factory from $75.00 to $76.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $68.00 price objective on shares of Cheesecake Factory in a research report on Thursday, April 30th. Stephens lifted their price objective on shares of Cheesecake Factory from $61.00 to $65.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 30th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Cheesecake Factory in a research report on Friday, May 22nd. Six investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $64.94.

Insider Buying and Selling

In related news, EVP Scarlett May sold 5,206 shares of the company’s stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $62.95, for a total transaction of $327,717.70. Following the sale, the executive vice president owned 25,715 shares of the company’s stock, valued at approximately $1,618,759.25. This represents a 16.84% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman David Overton sold 104,000 shares of the company’s stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $61.02, for a total transaction of $6,346,080.00. Following the sale, the chairman directly owned 3,079,779 shares in the company, valued at $187,928,114.58. This trade represents a 3.27% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 8.00% of the company’s stock.

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.