Rhumbline Advisers Has $6.54 Million Stake in The Cheesecake Factory Incorporated (NASDAQ:CAKE)

Rhumbline Advisers increased its position in shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE) by 0.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 134,328 shares of the restaurant operator’s stock after buying an additional 656 shares during the period. Rhumbline Advisers’ holdings in Cheesecake Factory were worth $6,536,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in CAKE. Janney Montgomery Scott LLC bought a new position in Cheesecake Factory during the fourth quarter worth $270,000. Choreo LLC bought a new position in Cheesecake Factory during the fourth quarter worth $215,000. Golden State Wealth Management LLC bought a new position in Cheesecake Factory during the fourth quarter worth $25,000. Principal Financial Group Inc. boosted its position in Cheesecake Factory by 5.2% during the fourth quarter. Principal Financial Group Inc. now owns 268,830 shares of the restaurant operator’s stock worth $12,753,000 after purchasing an additional 13,235 shares during the period. Finally, Truist Financial Corp boosted its position in Cheesecake Factory by 3.3% during the fourth quarter. Truist Financial Corp now owns 8,045 shares of the restaurant operator’s stock worth $382,000 after purchasing an additional 257 shares during the period. 94.48% of the stock is currently owned by institutional investors and hedge funds.

Cheesecake Factory Trading Up 0.5%

CAKE opened at $57.61 on Thursday. The Cheesecake Factory Incorporated has a twelve month low of $33.50 and a twelve month high of $59.45. The company has a 50-day simple moving average of $51.51 and a 200 day simple moving average of $50.84. The company has a quick ratio of 0.33, a current ratio of 0.44 and a debt-to-equity ratio of 1.19. The stock has a market capitalization of $2.85 billion, a price-to-earnings ratio of 18.00, a P/E/G ratio of 1.31 and a beta of 1.14.

Cheesecake Factory (NASDAQ:CAKE) last posted its quarterly earnings data on Wednesday, April 30th. The restaurant operator reported $0.93 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.12. Cheesecake Factory had a net margin of 4.38% and a return on equity of 45.89%. The business had revenue of $927.20 million during the quarter, compared to analysts’ expectations of $927.17 million. During the same quarter in the prior year, the business posted $0.73 earnings per share. Cheesecake Factory’s revenue was up 4.0% compared to the same quarter last year. Analysts predict that The Cheesecake Factory Incorporated will post 3.71 EPS for the current fiscal year.

Cheesecake Factory Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 27th. Investors of record on Wednesday, May 14th were given a dividend of $0.27 per share. The ex-dividend date of this dividend was Wednesday, May 14th. This represents a $1.08 annualized dividend and a yield of 1.87%. Cheesecake Factory’s dividend payout ratio is 33.86%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on CAKE. Wedbush lifted their price objective on shares of Cheesecake Factory from $59.00 to $61.00 and gave the stock an “outperform” rating in a research report on Thursday, February 20th. UBS Group lifted their price objective on shares of Cheesecake Factory from $41.00 to $45.00 and gave the stock a “sell” rating in a research report on Thursday, February 20th. Morgan Stanley boosted their target price on shares of Cheesecake Factory from $39.00 to $40.00 and gave the company an “underweight” rating in a research report on Thursday, May 1st. Argus set a $60.00 target price on shares of Cheesecake Factory in a research report on Wednesday, May 14th. Finally, Citigroup reduced their target price on shares of Cheesecake Factory from $67.00 to $62.00 and set a “buy” rating for the company in a research report on Tuesday, April 15th. Four investment analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, Cheesecake Factory has an average rating of “Hold” and an average price target of $54.00.

Insider Buying and Selling

In other Cheesecake Factory news, CFO Matthew Eliot Clark sold 42,900 shares of the business’s stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $56.00, for a total transaction of $2,402,400.00. Following the completion of the transaction, the chief financial officer now owns 40,878 shares of the company’s stock, valued at approximately $2,289,168. The trade was a 51.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Keith Carango sold 50,500 shares of the business’s stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $55.12, for a total value of $2,783,560.00. Following the transaction, the insider now directly owns 20,774 shares of the company’s stock, valued at approximately $1,145,062.88. The trade was a 70.85% decrease in their position. The disclosure for this sale can be found here. Insiders sold 133,000 shares of company stock valued at $7,456,992 over the last quarter. 8.40% of the stock is owned by company insiders.

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.