The Cheesecake Factory Incorporated (NASDAQ:CAKE) Stake Raised by Diametric Capital LP

Diametric Capital LP increased its holdings in The Cheesecake Factory Incorporated (NASDAQ:CAKE) by 271.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 48,461 shares of the restaurant operator’s stock after buying an additional 35,410 shares during the quarter. Cheesecake Factory comprises approximately 1.6% of Diametric Capital LP’s investment portfolio, making the stock its 6th largest holding. Diametric Capital LP owned 0.09% of Cheesecake Factory worth $2,299,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of CAKE. Truist Financial Corp raised its holdings in shares of 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 last quarter. Blair William & Co. IL grew its position in Cheesecake Factory by 5.2% during the 4th quarter. Blair William & Co. IL now owns 5,772 shares of the restaurant operator’s stock worth $274,000 after purchasing an additional 283 shares during the period. Versant Capital Management Inc raised its stake in shares of Cheesecake Factory by 108.1% during the 4th quarter. Versant Capital Management Inc now owns 616 shares of the restaurant operator’s stock valued at $29,000 after buying an additional 320 shares during the last quarter. Golden State Wealth Management LLC acquired a new position in shares of Cheesecake Factory in the 4th quarter valued at about $25,000. Finally, Swiss National Bank boosted its stake in shares of Cheesecake Factory by 0.6% in the fourth quarter. Swiss National Bank now owns 95,100 shares of the restaurant operator’s stock worth $4,512,000 after buying an additional 600 shares during the last quarter. 94.48% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on CAKE shares. The Goldman Sachs Group lifted their price target on Cheesecake Factory from $56.00 to $64.00 and gave the company a “buy” rating in a research report on Thursday, February 6th. Raymond James lifted their target price on shares of Cheesecake Factory from $51.00 to $56.00 and gave the company an “outperform” rating in a report on Monday, December 16th. Robert W. Baird set a $50.00 price target on shares of Cheesecake Factory in a report on Tuesday, March 18th. William Blair restated an “outperform” rating on shares of Cheesecake Factory in a research report on Thursday, February 20th. Finally, Wells Fargo & Company upped their price objective on shares of Cheesecake Factory from $45.00 to $52.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 20th. Four investment analysts have rated the stock with a sell rating, six have given a hold rating and eight have given a buy rating to the company. According to MarketBeat, Cheesecake Factory presently has a consensus rating of “Hold” and an average target price of $52.38.

Insider Activity at Cheesecake Factory

In related news, CFO Matthew Eliot Clark sold 29,000 shares of the company’s stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $53.56, for a total value of $1,553,240.00. Following the completion of the sale, the chief financial officer now owns 39,856 shares of the company’s stock, valued at approximately $2,134,687.36. This represents a 42.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Chairman David Overton sold 100,000 shares of the firm’s stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $53.08, for a total transaction of $5,308,000.00. Following the sale, the chairman now owns 3,092,147 shares of the company’s stock, valued at approximately $164,131,162.76. The trade was a 3.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 8.10% of the company’s stock.

Cheesecake Factory Stock Down 2.1 %

NASDAQ CAKE opened at $48.66 on Tuesday. The Cheesecake Factory Incorporated has a one year low of $33.05 and a one year high of $57.32. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.33 and a current ratio of 0.44. The business has a fifty day moving average price of $51.68 and a 200 day moving average price of $47.78. The company has a market cap of $2.51 billion, a P/E ratio of 15.21, a P/E/G ratio of 1.31 and a beta of 1.55.

Cheesecake Factory (NASDAQ:CAKE) last posted its quarterly earnings results on Wednesday, February 19th. The restaurant operator reported $1.04 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.13. Cheesecake Factory had a net margin of 4.38% and a return on equity of 45.89%. The firm had revenue of $920.96 million for the quarter, compared to the consensus estimate of $912.67 million. Research analysts anticipate that The Cheesecake Factory Incorporated will post 3.71 EPS for the current fiscal year.

Cheesecake Factory Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Wednesday, March 5th were given a $0.27 dividend. The ex-dividend date was Wednesday, March 5th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.22%. Cheesecake Factory’s dividend payout ratio (DPR) is presently 33.75%.

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.