The Cheesecake Factory Incorporated $CAKE Shares Bought by Odyssean LLC

Odyssean LLC grew its position in shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE) by 66.1% during the second quarter, HoldingsChannel reports. The firm owned 39,490 shares of the restaurant operator’s stock after buying an additional 15,720 shares during the period. Odyssean LLC’s holdings in Cheesecake Factory were worth $3,141,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Allworth Financial LP purchased a new position in shares of Cheesecake Factory in the second quarter valued at $36,000. Global Retirement Partners LLC increased its stake in Cheesecake Factory by 661.7% during the 4th quarter. Global Retirement Partners LLC now owns 716 shares of the restaurant operator’s stock worth $36,000 after buying an additional 622 shares during the period. NFSG Corp increased its stake in Cheesecake Factory by 115.8% during the 1st quarter. NFSG Corp now owns 682 shares of the restaurant operator’s stock worth $37,000 after buying an additional 366 shares during the period. Root Financial Partners LLC lifted its holdings in Cheesecake Factory by 973.2% in the 4th quarter. Root Financial Partners LLC now owns 880 shares of the restaurant operator’s stock worth $44,000 after buying an additional 798 shares in the last quarter. Finally, Arax Advisory Partners acquired a new position in Cheesecake Factory in the 4th quarter worth $50,000. 94.48% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Morgan Stanley raised shares of Cheesecake Factory from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $50.00 to $80.00 in a research report on Wednesday, July 29th. JPMorgan Chase & Co. raised Cheesecake Factory from an “underweight” rating to a “neutral” rating and lifted their target price for the stock from $58.00 to $68.00 in a research report on Thursday, May 14th. Zacks Research upgraded Cheesecake Factory from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 30th. Weiss Ratings raised Cheesecake Factory from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, August 13th. Finally, UBS Group raised their price objective on Cheesecake Factory from $53.00 to $60.00 and gave the company a “sell” rating in a research note on Thursday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $81.00.

Cheesecake Factory Stock Down 1.0%

CAKE stock opened at $113.49 on Wednesday. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.59 and a quick ratio of 0.52. The Cheesecake Factory Incorporated has a 1-year low of $43.07 and a 1-year high of $118.46. The firm has a fifty day moving average price of $91.94 and a two-hundred day moving average price of $72.28. The firm has a market cap of $5.65 billion, a price-to-earnings 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. Cheesecake Factory had a net margin of 4.61% and a return on equity of 43.97%. The company had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $999.54 million. During the same period last year, the firm posted $1.16 EPS. The company’s revenue for the quarter was up 7.7% on a year-over-year basis. Research analysts predict that The Cheesecake Factory Incorporated will post 4.47 EPS for the current year.

Cheesecake Factory Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 25th. Shareholders of record on Tuesday, August 11th were issued a $0.30 dividend. The ex-dividend date of this dividend was Tuesday, August 11th. This represents a $1.20 dividend on an annualized basis and a yield of 1.1%. Cheesecake Factory’s dividend payout ratio (DPR) is currently 32.52%.

Insider Transactions at Cheesecake Factory

In other news, EVP Scarlett May sold 7,978 shares of the company’s stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $102.66, for a total transaction of $819,021.48. Following the completion of the transaction, the executive vice president directly owned 18,241 shares of the company’s stock, valued at approximately $1,872,621.06. This represents a 30.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ashley W. Hanscom sold 3,500 shares of the stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $100.00, for a total value of $350,000.00. Following the sale, the insider owned 7,541 shares in the company, valued at $754,100. The trade was a 31.70% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 216,239 shares of company stock valued at $22,463,500 over the last ninety days. Insiders own 8.00% of the company’s stock.

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.