The Cheesecake Factory Incorporated (NASDAQ:CAKE – Get Free Report) declared a quarterly dividend on Tuesday, July 28th. Shareholders of record on Tuesday, August 11th will be paid a dividend of 0.30 per share by the restaurant operator on Tuesday, August 25th. This represents a c) annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Tuesday, August 11th.
Cheesecake Factory has increased its dividend payment by an average of 0.2%annually over the last three years. Cheesecake Factory has a dividend payout ratio of 29.4% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Cheesecake Factory to earn $4.45 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 27.0%.
Cheesecake Factory Stock Up 12.0%
Shares of NASDAQ CAKE traded up $10.70 during midday trading on Wednesday, hitting $99.71. The stock had a trading volume of 3,334,903 shares, compared to its average volume of 1,341,260. The business’s 50 day moving average is $75.16 and its 200-day moving average is $65.29. Cheesecake Factory has a 52 week low of $43.07 and a 52 week high of $101.08. The company has a quick ratio of 0.53, a current ratio of 0.59 and a debt-to-equity ratio of 1.22. The company has a market cap of $4.95 billion, a P/E ratio of 29.18, a PEG ratio of 2.03 and a beta of 1.01.
Insider Transactions at Cheesecake Factory
In other news, Director Alexander L. Cappello sold 2,490 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $64.90, for a total transaction of $161,601.00. Following the completion of the sale, the director owned 6,171 shares of the company’s stock, valued at $400,497.90. This represents a 28.75% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman David Overton sold 104,000 shares of the business’s stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $61.02, for a total transaction of $6,346,080.00. Following the sale, the chairman owned 3,079,779 shares of the company’s stock, valued at $187,928,114.58. This trade represents a 3.27% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 8.00% of the company’s stock.
Hedge Funds Weigh In On Cheesecake Factory
Institutional investors have recently bought and sold shares of the stock. Salomon & Ludwin LLC lifted its stake in Cheesecake Factory by 226.5% in the 4th quarter. Salomon & Ludwin LLC now owns 604 shares of the restaurant operator’s stock worth $33,000 after purchasing an additional 419 shares in the last quarter. NFSG Corp increased its holdings in shares of Cheesecake Factory by 115.8% in the first quarter. NFSG Corp now owns 682 shares of the restaurant operator’s stock worth $37,000 after purchasing an additional 366 shares during the last quarter. Global Retirement Partners LLC increased its holdings in shares of Cheesecake Factory by 661.7% in the fourth quarter. Global Retirement Partners LLC now owns 716 shares of the restaurant operator’s stock worth $36,000 after purchasing an additional 622 shares during the last quarter. Root Financial Partners LLC lifted its position in shares of Cheesecake Factory by 973.2% in the fourth 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 bought a new position in Cheesecake Factory during the fourth quarter valued at approximately $50,000. 94.48% of the stock is owned by institutional investors.
About Cheesecake Factory
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.
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