Voya Investment Management LLC Reduces Stock Position in The Cheesecake Factory Incorporated $CAKE

Voya Investment Management LLC lessened its position in shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE) by 14.3% during the 1st quarter, Holdings Channel reports. The firm owned 25,493 shares of the restaurant operator’s stock after selling 4,248 shares during the quarter. Voya Investment Management LLC’s holdings in Cheesecake Factory were worth $1,240,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in CAKE. USA Financial Formulas purchased a new stake in shares of Cheesecake Factory in the first quarter worth about $49,000. Golden State Wealth Management LLC boosted its stake in shares of Cheesecake Factory by 100.0% in the first quarter. Golden State Wealth Management LLC now owns 1,060 shares of the restaurant operator’s stock worth $52,000 after buying an additional 530 shares during the last quarter. SBI Securities Co. Ltd. boosted its position in Cheesecake Factory by 38.5% during the first quarter. SBI Securities Co. Ltd. now owns 1,244 shares of the restaurant operator’s stock worth $61,000 after purchasing an additional 346 shares in the last quarter. Bayforest Capital Ltd purchased a new position in Cheesecake Factory during the first quarter worth approximately $72,000. Finally, Smartleaf Asset Management LLC boosted its position in Cheesecake Factory by 24.4% during the first quarter. Smartleaf Asset Management LLC now owns 3,268 shares of the restaurant operator’s stock worth $162,000 after purchasing an additional 640 shares in the last quarter. Hedge funds and other institutional investors own 94.48% of the company’s stock.

Insider Buying and Selling at Cheesecake Factory

In other news, Director Alexander L. Cappello sold 12,388 shares of the firm’s stock in a transaction on Thursday, July 31st. The stock was sold at an average price of $65.88, for a total transaction of $816,121.44. Following the completion of the transaction, the director directly owned 6,806 shares in the company, valued at $448,379.28. This trade represents a 64.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, President David M. Gordon sold 43,335 shares of the firm’s stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $63.06, for a total value of $2,732,705.10. Following the transaction, the president owned 24,532 shares of the company’s stock, valued at approximately $1,546,987.92. This represents a 63.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 8.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Morgan Stanley increased their price target on Cheesecake Factory from $45.00 to $47.00 and gave the stock an “underweight” rating in a research report on Thursday, July 31st. JPMorgan Chase & Co. increased their price target on Cheesecake Factory from $50.00 to $58.00 and gave the stock an “underweight” rating in a research report on Wednesday, June 25th. Oppenheimer increased their price target on Cheesecake Factory from $65.00 to $75.00 and gave the stock an “outperform” rating in a research report on Friday, July 11th. Piper Sandler increased their price target on Cheesecake Factory from $54.00 to $62.00 and gave the stock a “neutral” rating in a research report on Monday, August 4th. Finally, Wells Fargo & Company increased their price target on Cheesecake Factory from $60.00 to $65.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 30th. Seven equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $61.94.

Cheesecake Factory Trading Up 1.0%

CAKE opened at $54.44 on Wednesday. The Cheesecake Factory Incorporated has a 52 week low of $38.40 and a 52 week high of $69.70. The business has a fifty day simple moving average of $61.29 and a 200-day simple moving average of $56.21. The firm has a market cap of $2.71 billion, a P/E ratio of 16.75, a P/E/G ratio of 1.28 and a beta of 1.10. The company has a quick ratio of 0.42, a current ratio of 0.51 and a debt-to-equity ratio of 1.40.

Cheesecake Factory (NASDAQ:CAKE) last released its quarterly earnings results on Tuesday, July 29th. The restaurant operator reported $1.16 EPS for the quarter, topping the consensus estimate of $1.06 by $0.10. Cheesecake Factory had a return on equity of 45.92% and a net margin of 4.33%.The business had revenue of $955.83 million during the quarter, compared to analyst estimates of $945.82 million. During the same period last year, the business posted $1.09 earnings per share. The company’s quarterly revenue was up 5.7% on a year-over-year basis. On average, equities analysts expect that The Cheesecake Factory Incorporated will post 3.71 earnings per share for the current year.

Cheesecake Factory Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 26th. Stockholders of record on Tuesday, August 12th were given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 2.0%. The ex-dividend date was Tuesday, August 12th. Cheesecake Factory’s dividend payout ratio (DPR) is currently 33.23%.

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.