The Cheesecake Factory Incorporated Plans Quarterly Dividend of $0.30 (NASDAQ:CAKE)

The Cheesecake Factory Incorporated (NASDAQ:CAKEGet 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.

Cheesecake Factory (NASDAQ:CAKEGet Free Report) last announced its quarterly earnings results on Tuesday, July 28th. The restaurant operator reported $1.44 earnings per share for the quarter, beating the consensus estimate of $1.18 by $0.26. The company had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $999.54 million. Cheesecake Factory had a net margin of 4.34% and a return on equity of 43.74%. The firm’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter last year, the firm earned $1.16 earnings per share. As a group, analysts predict that Cheesecake Factory will post 4.06 EPS for the current year.

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

(Get Free Report)

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.

See Also

Dividend History for Cheesecake Factory (NASDAQ:CAKE)

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