PDT Partners LLC Buys Shares of 172,778 The Cheesecake Factory Incorporated $CAKE

PDT Partners LLC purchased a new stake in shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 172,778 shares of the restaurant operator’s stock, valued at approximately $13,743,000. Cheesecake Factory makes up about 0.7% of PDT Partners LLC’s investment portfolio, making the stock its 28th biggest position. PDT Partners LLC owned approximately 0.35% of Cheesecake Factory as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Oppenheimer Asset Management Inc. bought a new stake in Cheesecake Factory during the 2nd quarter worth approximately $2,606,000. Fisher Asset Management LLC grew its stake in shares of Cheesecake Factory by 7.2% in the fourth quarter. Fisher Asset Management LLC now owns 503,184 shares of the restaurant operator’s stock worth $25,401,000 after purchasing an additional 33,959 shares during the last quarter. Louisiana State Employees Retirement System bought a new stake in shares of Cheesecake Factory in the first quarter worth $1,111,000. California State Teachers Retirement System increased its holdings in Cheesecake Factory by 24.9% in the first quarter. California State Teachers Retirement System now owns 55,576 shares of the restaurant operator’s stock valued at $3,043,000 after purchasing an additional 11,088 shares during the period. Finally, Intech Investment Management LLC raised its position in Cheesecake Factory by 127.7% during the 4th quarter. Intech Investment Management LLC now owns 60,513 shares of the restaurant operator’s stock worth $3,055,000 after purchasing an additional 33,936 shares during the last quarter. Institutional investors and hedge funds own 94.48% of the company’s stock.

Insider Activity

In other news, Chairman David Overton sold 94,145 shares of Cheesecake Factory stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $106.27, for a total value of $10,004,789.15. Following the completion of the sale, the chairman owned 89,805 shares in the company, valued at $9,543,577.35. The trade was a 51.18% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Ashley W. Hanscom sold 3,500 shares of the business’s stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $100.00, for a total transaction of $350,000.00. Following the transaction, the insider owned 7,541 shares in the company, valued at $754,100. The trade was a 31.70% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 216,239 shares of company stock worth $22,463,500. Company insiders own 8.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Bank of America increased their price target on Cheesecake Factory from $66.00 to $79.00 and gave the company a “neutral” rating in a research note on Thursday, July 2nd. Zacks Research upgraded Cheesecake Factory from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 30th. Stephens reissued a “positive” rating on shares of Cheesecake Factory in a research report on Wednesday, July 29th. Mizuho raised their price target on shares of Cheesecake Factory from $85.00 to $93.00 and gave the stock a “neutral” rating in a report on Wednesday, July 29th. Finally, Oppenheimer boosted their price target on shares of Cheesecake Factory from $91.00 to $101.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 29th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $81.00.

Cheesecake Factory Stock Performance

Shares of Cheesecake Factory stock opened at $113.49 on Wednesday. The business has a 50-day moving average price of $91.94 and a two-hundred day moving average price of $72.28. The Cheesecake Factory Incorporated has a 1-year low of $43.07 and a 1-year high of $118.46. The company has a current ratio of 0.59, a quick ratio of 0.52 and a debt-to-equity ratio of 1.08. The company has a market cap of $5.65 billion, a P/E ratio of 30.76, a PEG ratio of 2.05 and a beta of 1.00.

Cheesecake Factory (NASDAQ:CAKE) last announced its quarterly earnings data on Tuesday, July 28th. The restaurant operator reported $1.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.18 by $0.26. Cheesecake Factory had a return on equity of 43.97% and a net margin of 4.61%.The company had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $999.54 million. During the same period in the previous year, the business earned $1.16 EPS. The firm’s revenue was up 7.7% compared to the same quarter last year. As a group, analysts anticipate that The Cheesecake Factory Incorporated will post 4.47 EPS for the current year.

Cheesecake Factory Announces Dividend

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

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.