Trek Financial LLC Purchases New Position in The Cheesecake Factory Incorporated $CAKE

Trek Financial LLC bought a new position in The Cheesecake Factory Incorporated (NASDAQ:CAKE) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 13,908 shares of the restaurant operator’s stock, valued at approximately $1,464,000.

A number of other hedge funds also recently added to or reduced their stakes in CAKE. Money Concepts Capital Corp boosted its holdings in shares of Cheesecake Factory by 3.8% during the first quarter. Money Concepts Capital Corp now owns 5,802 shares of the restaurant operator’s stock valued at $318,000 after acquiring an additional 210 shares during the period. SBI Securities Co. Ltd. increased its holdings in shares of Cheesecake Factory by 28.2% in the 3rd quarter. SBI Securities Co. Ltd. now owns 1,146 shares of the restaurant operator’s stock worth $121,000 after acquiring an additional 252 shares during the period. Root Financial Partners LLC acquired a new stake in shares of Cheesecake Factory in the 3rd quarter worth about $35,000. Carolina Wealth Advisors LLC bought a new stake in Cheesecake Factory in the 3rd quarter valued at about $36,000. Finally, NFSG Corp lifted its position in Cheesecake Factory by 115.8% in the 1st quarter. NFSG Corp now owns 682 shares of the restaurant operator’s stock valued at $37,000 after purchasing an additional 366 shares during the last quarter. 94.48% of the stock is currently owned by institutional investors.

Insider Activity at Cheesecake Factory

In other news, EVP Scarlett May sold 2,939 shares of the company’s stock in a transaction that occurred on Thursday, October 29th. The shares were sold at an average price of $114.12, for a total value of $335,398.68. Following the completion of the sale, the executive vice president directly owned 15,302 shares of the company’s stock, valued at approximately $1,746,264.24. This represents a 16.11% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Edie Ames sold 3,000 shares of the stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $106.95, for a total transaction of $320,850.00. Following the completion of the transaction, the director owned 10,000 shares of the company’s stock, valued at $1,069,500. This trade represents a 23.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 158,249 shares of company stock worth $17,139,354 in the last three months. Insiders own 8.00% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. JPMorgan Chase & Co. boosted their target price on shares of Cheesecake Factory from $92.00 to $105.00 and gave the company a “neutral” rating in a research note on Wednesday, August 26th. Mizuho raised their price target on shares of Cheesecake Factory from $93.00 to $110.00 and gave the company a “neutral” rating in a research note on Friday, October 23rd. Robert W. Baird lifted their price target on Cheesecake Factory from $105.00 to $120.00 and gave the company a “neutral” rating in a report on Thursday, October 22nd. Freedom Capital raised Cheesecake Factory from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 28th. Finally, Wells Fargo & Company set a $116.00 price objective on Cheesecake Factory in a research report on Wednesday, October 28th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, twelve have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $95.47.

Cheesecake Factory Trading Up 0.3%

NASDAQ:CAKE opened at $112.96 on Tuesday. The stock has a market cap of $5.62 billion, a price-to-earnings ratio of 26.77, a PEG ratio of 1.48 and a beta of 1.04. 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 Cheesecake Factory Incorporated has a 1 year low of $43.07 and a 1 year high of $118.63. The business has a fifty day moving average of $108.02 and a 200-day moving average of $79.94.

Cheesecake Factory (NASDAQ:CAKE) last issued its quarterly earnings data on Tuesday, October 27th. The restaurant operator reported $1.02 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.06. The business had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1.01 billion. Cheesecake Factory had a net margin of 5.20% and a return on equity of 46.95%. The company’s revenue was up 13.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.66 earnings per share. Equities analysts predict that The Cheesecake Factory Incorporated will post 4.68 earnings per share for the current year.

Cheesecake Factory Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 24th. Shareholders of record on Tuesday, November 10th will be 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 is Tuesday, November 10th. Cheesecake Factory’s payout ratio is 28.44%.

Cheesecake Factory Profile

The Cheesecake Factory Incorporated is a restaurant company best known for The Cheesecake Factory, a full-service casual dining brand offering an extensive menu of American and international-inspired dishes, along with a broad selection of cheesecakes and other desserts. The company also operates North Italia, an Italian restaurant concept, and owns Fox Restaurant Concepts, which develops and operates additional restaurant brands, including Flower Child and Culinary Dropout.

The company was founded by David Overton, who opened the first Cheesecake Factory restaurant in Beverly Hills, California, in 1978 after his parents began a cheesecake business.