Leeward Investments LLC MA Reduces Stock Position in The Cheesecake Factory Incorporated (NASDAQ:CAKE)

Leeward Investments LLC MA cut its stake in shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE) by 4.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 218,322 shares of the restaurant operator’s stock after selling 9,360 shares during the period. Leeward Investments LLC MA owned about 0.43% of Cheesecake Factory worth $7,892,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of CAKE. Norges Bank purchased a new stake in Cheesecake Factory during the fourth quarter valued at $11,729,000. Sapient Capital LLC bought a new position in shares of Cheesecake Factory in the 4th quarter worth approximately $6,838,000. IPG Investment Advisors LLC boosted its holdings in shares of Cheesecake Factory by 104.7% in the fourth quarter. IPG Investment Advisors LLC now owns 151,695 shares of the restaurant operator’s stock worth $5,311,000 after buying an additional 77,575 shares during the last quarter. Campbell & CO Investment Adviser LLC bought a new stake in Cheesecake Factory during the fourth quarter valued at approximately $2,532,000. Finally, Advisors Preferred LLC purchased a new stake in Cheesecake Factory during the fourth quarter valued at approximately $2,335,000. 94.48% of the stock is owned by institutional investors.

Cheesecake Factory Price Performance

CAKE stock traded down $0.01 during mid-day trading on Friday, hitting $37.21. The company had a trading volume of 34,539 shares, compared to its average volume of 909,676. The company has a market capitalization of $1.90 billion, a price-to-earnings ratio of 17.07, a P/E/G ratio of 1.09 and a beta of 1.51. The company has a 50-day moving average price of $38.04 and a 200 day moving average price of $35.94. The company has a quick ratio of 0.33, a current ratio of 0.43 and a debt-to-equity ratio of 1.42. The Cheesecake Factory Incorporated has a 12-month low of $28.58 and a 12-month high of $41.25.

Cheesecake Factory (NASDAQ:CAKE) last announced its quarterly earnings results on Wednesday, May 8th. The restaurant operator reported $0.73 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.10. Cheesecake Factory had a return on equity of 42.15% and a net margin of 3.07%. The company had revenue of $891.22 million during the quarter, compared to analyst estimates of $890.49 million. During the same period in the prior year, the company earned $0.61 earnings per share. The firm’s revenue was up 2.9% on a year-over-year basis. On average, research analysts anticipate that The Cheesecake Factory Incorporated will post 3.16 earnings per share for the current year.

Cheesecake Factory Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 4th. Investors of record on Wednesday, May 22nd were given a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 2.90%. The ex-dividend date of this dividend was Tuesday, May 21st. Cheesecake Factory’s dividend payout ratio is presently 49.54%.

Insider Activity at Cheesecake Factory

In other news, insider Keith Carango sold 3,785 shares of the business’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $40.10, for a total value of $151,778.50. Following the sale, the insider now directly owns 28,072 shares in the company, valued at approximately $1,125,687.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 8.10% of the stock is owned by insiders.

Analyst Ratings Changes

Several research analysts have recently weighed in on CAKE shares. Barclays dropped their price target on shares of Cheesecake Factory from $33.00 to $32.00 and set an “underweight” rating on the stock in a research note on Thursday, May 9th. Bank of America boosted their price target on Cheesecake Factory from $39.00 to $43.00 and gave the company a “neutral” rating in a report on Wednesday, May 15th. JPMorgan Chase & Co. raised their price objective on Cheesecake Factory from $34.00 to $40.00 and gave the stock an “underweight” rating in a research note on Tuesday, May 28th. Robert W. Baird boosted their price objective on Cheesecake Factory from $32.00 to $37.00 and gave the company a “neutral” rating in a research note on Thursday, May 9th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of Cheesecake Factory from $37.00 to $38.00 and gave the stock a “hold” rating in a research note on Thursday, May 9th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $39.58.

Cheesecake Factory Company Profile

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.