Aviance Capital Partners LLC Increases Position in The Cheesecake Factory Incorporated (NASDAQ:CAKE)

Aviance Capital Partners LLC increased its stake in shares of The Cheesecake Factory Incorporated (NASDAQ:CAKEFree Report) by 23.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,751 shares of the restaurant operator’s stock after buying an additional 4,863 shares during the quarter. Aviance Capital Partners LLC owned about 0.05% of Cheesecake Factory worth $1,253,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in shares of Cheesecake Factory by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 5,443,458 shares of the restaurant operator’s stock valued at $258,238,000 after buying an additional 21,096 shares during the last quarter. Invesco Ltd. grew its holdings in shares of Cheesecake Factory by 12.4% during the fourth quarter. Invesco Ltd. now owns 1,412,483 shares of the restaurant operator’s stock valued at $67,008,000 after buying an additional 155,614 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of Cheesecake Factory by 15.8% during the fourth quarter. American Century Companies Inc. now owns 1,363,051 shares of the restaurant operator’s stock valued at $64,663,000 after buying an additional 186,026 shares during the last quarter. Wellington Management Group LLP purchased a new stake in shares of Cheesecake Factory during the fourth quarter valued at $56,288,000. Finally, Victory Capital Management Inc. grew its holdings in shares of Cheesecake Factory by 166.9% during the fourth quarter. Victory Capital Management Inc. now owns 1,076,347 shares of the restaurant operator’s stock valued at $51,062,000 after buying an additional 673,076 shares during the last quarter. 94.48% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on CAKE. Argus set a $60.00 price objective on shares of Cheesecake Factory in a report on Wednesday, May 14th. Barclays decreased their target price on shares of Cheesecake Factory from $50.00 to $46.00 and set an “underweight” rating for the company in a research report on Tuesday, April 22nd. JPMorgan Chase & Co. boosted their target price on shares of Cheesecake Factory from $50.00 to $58.00 and gave the company an “underweight” rating in a research report on Wednesday, June 25th. 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. Finally, Robert W. Baird boosted their target price on shares of Cheesecake Factory from $46.00 to $49.00 and gave the company a “neutral” rating in a research report on Thursday, May 1st. Four analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, Cheesecake Factory has a consensus rating of “Hold” and an average target price of $54.63.

Check Out Our Latest Analysis on Cheesecake Factory

Cheesecake Factory Stock Performance

NASDAQ:CAKE opened at $65.21 on Friday. The Cheesecake Factory Incorporated has a fifty-two week low of $33.50 and a fifty-two week high of $65.99. The firm’s 50 day moving average is $55.80 and its two-hundred day moving average is $52.02. The company has a market cap of $3.23 billion, a P/E ratio of 20.44, a P/E/G ratio of 1.66 and a beta of 1.16. The company has a quick ratio of 0.43, a current ratio of 0.53 and a debt-to-equity ratio of 1.85.

Cheesecake Factory (NASDAQ:CAKEGet Free Report) last released its quarterly earnings data on Wednesday, April 30th. The restaurant operator reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.12. The company had revenue of $927.20 million during the quarter, compared to analyst estimates of $927.17 million. Cheesecake Factory had a net margin of 4.33% and a return on equity of 46.06%. The business’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.73 earnings per share. Analysts expect that The Cheesecake Factory Incorporated will post 3.71 EPS for the current year.

Cheesecake Factory Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 27th. Stockholders of record on Wednesday, May 14th were given a $0.27 dividend. The ex-dividend date was Wednesday, May 14th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.66%. Cheesecake Factory’s payout ratio is currently 33.86%.

Insider Transactions at Cheesecake Factory

In other news, CFO Matthew Eliot Clark sold 42,900 shares of Cheesecake Factory stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $56.00, for a total value of $2,402,400.00. Following the transaction, the chief financial officer owned 40,878 shares of the company’s stock, valued at $2,289,168. The trade was a 51.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Scarlett May sold 20,800 shares of Cheesecake Factory stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $56.02, for a total transaction of $1,165,216.00. Following the completion of the transaction, the executive vice president directly owned 22,872 shares in the company, valued at $1,281,289.44. This represents a 47.63% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 133,000 shares of company stock worth $7,456,992. 8.40% of the stock is currently owned by insiders.

Cheesecake Factory Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Cheesecake Factory (NASDAQ:CAKE)

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