Callan Family Office LLC Purchases Shares of 8,885 The Cheesecake Factory Incorporated $CAKE

Callan Family Office LLC purchased a new stake in shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE) in the 2nd quarter, Holdings Channel.com reports. The fund purchased 8,885 shares of the restaurant operator’s stock, valued at approximately $707,000.

A number of other hedge funds also recently modified their holdings of CAKE. Truist Financial Corp grew its stake in shares of Cheesecake Factory by 3.0% in the fourth quarter. Truist Financial Corp now owns 6,187 shares of the restaurant operator’s stock worth $312,000 after purchasing an additional 181 shares during the last quarter. Oregon Public Employees Retirement Fund raised its position in Cheesecake Factory by 1.9% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 10,487 shares of the restaurant operator’s stock worth $529,000 after purchasing an additional 200 shares during the last quarter. California State Teachers Retirement System lifted its holdings in Cheesecake Factory by 0.5% during the 2nd quarter. California State Teachers Retirement System now owns 44,527 shares of the restaurant operator’s stock worth $2,790,000 after buying an additional 203 shares during the period. Money Concepts Capital Corp grew its position in shares of Cheesecake Factory by 3.8% in the 1st quarter. Money Concepts Capital Corp now owns 5,802 shares of the restaurant operator’s stock valued at $318,000 after buying an additional 210 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV increased its stake in shares of Cheesecake Factory by 5.9% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 4,642 shares of the restaurant operator’s stock valued at $234,000 after buying an additional 260 shares during the period. Institutional investors and hedge funds own 94.48% of the company’s stock.

Insider Buying and Selling at Cheesecake Factory

In other Cheesecake Factory news, Chairman David Overton sold 94,145 shares of the firm’s stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $106.27, for a total value of $10,004,789.15. Following the completion of the sale, the chairman directly owned 89,805 shares in the company, valued at approximately $9,543,577.35. This trade represents a 51.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, President David M. Gordon sold 31,950 shares of the firm’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $110.03, for a total transaction of $3,515,458.50. Following the completion of the sale, the president owned 26,875 shares of the company’s stock, valued at $2,957,056.25. The trade was a 54.31% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 216,239 shares of company stock valued at $22,463,500 over the last 90 days. Insiders own 8.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Morgan Stanley upgraded Cheesecake Factory from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $50.00 to $80.00 in a report on Wednesday, July 29th. Zacks Research raised shares of Cheesecake Factory from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 30th. Robert W. Baird increased their price objective on shares of Cheesecake Factory from $65.00 to $90.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 29th. Northcoast Research downgraded shares of Cheesecake Factory from a “buy” rating to a “neutral” rating in a research note on Monday, June 15th. Finally, Bank of America boosted their target price on shares of Cheesecake Factory from $66.00 to $79.00 and gave the company a “neutral” rating in a report on Thursday, July 2nd. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, ten have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $81.00.

Cheesecake Factory Trading Down 1.0%

Shares of CAKE stock opened at $113.49 on Wednesday. The Cheesecake Factory Incorporated has a fifty-two week low of $43.07 and a fifty-two week high of $118.46. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.52 and a current ratio of 0.59. The stock has a 50 day simple moving average of $91.94 and a two-hundred day simple moving average of $72.28. The company has a market cap of $5.65 billion, a P/E ratio of 30.76, a PEG ratio of 2.05 and a beta of 1.00.

Cheesecake Factory (NASDAQ:CAKE) last posted its quarterly earnings results on Tuesday, July 28th. The restaurant operator reported $1.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.18 by $0.26. The firm had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $999.54 million. Cheesecake Factory had a return on equity of 43.97% and a net margin of 4.61%.The company’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period in the prior year, the business earned $1.16 EPS. Research analysts forecast that The Cheesecake Factory Incorporated will post 4.47 earnings per share for the current year.

Cheesecake Factory Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 25th. Investors of record on Tuesday, August 11th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date was Tuesday, August 11th. Cheesecake Factory’s payout ratio is presently 32.52%.

Cheesecake Factory 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.