Cheesecake Factory (NASDAQ:CAKE) Chairman David Overton Sells 94,145 Shares of Stock

The Cheesecake Factory Incorporated (NASDAQ:CAKE) Chairman David Overton sold 94,145 shares of the firm’s stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $106.27, for a total value of $10,004,789.15. Following the transaction, the chairman owned 89,805 shares in the company, valued at $9,543,577.35. This trade represents a 51.18% 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.

Cheesecake Factory Stock Performance

Cheesecake Factory stock opened at $107.31 on Friday. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.59 and a quick ratio of 0.53. The Cheesecake Factory Incorporated has a 12 month low of $43.07 and a 12 month high of $107.95. The company has a fifty day moving average price of $80.96 and a two-hundred day moving average price of $67.49. The company has a market cap of $5.34 billion, a PE ratio of 29.08, a P/E/G ratio of 1.90 and a beta of 1.00.

Cheesecake Factory (NASDAQ:CAKE) last issued its earnings results on Tuesday, July 28th. The restaurant operator reported $1.44 earnings per share 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 analysts’ expectations of $999.54 million. During the same period in the prior year, the company earned $1.16 earnings per share. The firm’s revenue was up 7.7% compared to the same quarter last year. Research analysts expect that The Cheesecake Factory Incorporated will post 4.43 earnings per share for the current year.

Cheesecake Factory Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 25th. Investors of record on Tuesday, August 11th will be paid a dividend of $0.30 per share. The ex-dividend date is Tuesday, August 11th. This represents a $1.20 annualized dividend and a yield of 1.1%. Cheesecake Factory’s dividend payout ratio is 32.52%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Salomon & Ludwin LLC increased its stake in shares of Cheesecake Factory by 226.5% in the fourth quarter. Salomon & Ludwin LLC now owns 604 shares of the restaurant operator’s stock valued at $33,000 after purchasing an additional 419 shares during the period. Global Retirement Partners LLC boosted its position in shares of Cheesecake Factory by 661.7% during the fourth 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 grew its holdings in Cheesecake Factory by 115.8% in the 1st quarter. NFSG Corp now owns 682 shares of the restaurant operator’s stock worth $37,000 after buying an additional 366 shares in the last quarter. Root Financial Partners LLC grew 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 stake in Cheesecake Factory in the 4th quarter valued at approximately $50,000. 94.48% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Northcoast Research downgraded Cheesecake Factory from a “buy” rating to a “neutral” rating in a research note on Monday, June 15th. Citigroup increased their price target on Cheesecake Factory from $76.00 to $90.00 and gave the stock a “buy” rating in a research report on Friday, July 10th. Stephens reissued a “positive” rating on shares of Cheesecake Factory in a report on Wednesday, July 29th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $68.00 price objective on shares of Cheesecake Factory in a research report on Thursday, April 30th. Finally, Jefferies Financial Group downgraded Cheesecake Factory from a “buy” rating to a “hold” rating and upped their price objective for the stock from $75.00 to $88.00 in a research note on Wednesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $81.00.

Cheesecake Factory Company 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.