Wealthfront Advisers LLC Makes New Investment in The Cheesecake Factory Incorporated (NASDAQ:CAKE)

Wealthfront Advisers LLC purchased a new stake in The Cheesecake Factory Incorporated (NASDAQ:CAKE) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 12,820 shares of the restaurant operator’s stock, valued at approximately $608,000.

Other large investors have also recently bought and sold shares of the company. Inspire Advisors LLC raised its position in Cheesecake Factory by 41.2% in the 4th quarter. Inspire Advisors LLC now owns 7,373 shares of the restaurant operator’s stock worth $350,000 after purchasing an additional 2,152 shares during the period. Moran Wealth Management LLC purchased a new position in shares of Cheesecake Factory during the fourth quarter valued at about $208,000. Ruffer LLP purchased a new position in shares of Cheesecake Factory during the fourth quarter valued at about $9,401,000. Amundi increased its position in shares of Cheesecake Factory by 186.9% during the fourth quarter. Amundi now owns 23,637 shares of the restaurant operator’s stock valued at $1,175,000 after buying an additional 15,398 shares during the period. Finally, Aviance Capital Partners LLC boosted its stake in Cheesecake Factory by 22.6% during the fourth quarter. Aviance Capital Partners LLC now owns 20,888 shares of the restaurant operator’s stock worth $991,000 after acquiring an additional 3,844 shares in the last quarter. 94.48% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Cheesecake Factory news, CFO Matthew Eliot Clark sold 29,000 shares of the firm’s stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $53.56, for a total value of $1,553,240.00. Following the completion of the sale, the chief financial officer now owns 39,856 shares of the company’s stock, valued at approximately $2,134,687.36. This trade represents a 42.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman David Overton sold 100,000 shares of the firm’s stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $53.08, for a total value of $5,308,000.00. Following the completion of the sale, the chairman now directly owns 3,092,147 shares of the company’s stock, valued at approximately $164,131,162.76. This trade represents a 3.13 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 8.10% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on CAKE shares. The Goldman Sachs Group upped their target price on shares of Cheesecake Factory from $56.00 to $64.00 and gave the stock a “buy” rating in a research note on Thursday, February 6th. Piper Sandler increased their price objective on shares of Cheesecake Factory from $47.00 to $51.00 and gave the company a “neutral” rating in a research report on Thursday, February 20th. Oppenheimer raised shares of Cheesecake Factory from a “market perform” rating to an “outperform” rating and set a $65.00 target price for the company in a report on Tuesday, January 7th. Barclays upped their target price on shares of Cheesecake Factory from $46.00 to $50.00 and gave the company an “underweight” rating in a report on Thursday, February 20th. Finally, Raymond James increased their price objective on shares of Cheesecake Factory from $51.00 to $56.00 and gave the stock an “outperform” rating in a research note on Monday, December 16th. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, Cheesecake Factory has an average rating of “Hold” and a consensus price target of $52.19.

Cheesecake Factory Stock Performance

Shares of Cheesecake Factory stock opened at $46.19 on Monday. The firm has a market capitalization of $2.39 billion, a P/E ratio of 14.43, a P/E/G ratio of 1.31 and a beta of 1.55. The Cheesecake Factory Incorporated has a 52 week low of $33.05 and a 52 week high of $57.32. The company has a quick ratio of 0.33, a current ratio of 0.44 and a debt-to-equity ratio of 1.19. The firm’s 50 day moving average is $51.69 and its two-hundred day moving average is $46.90.

Cheesecake Factory (NASDAQ:CAKE) last announced its quarterly earnings results on Wednesday, February 19th. The restaurant operator reported $1.04 EPS for the quarter, beating the consensus estimate of $0.91 by $0.13. The company had revenue of $920.96 million for the quarter, compared to analyst estimates of $912.67 million. Cheesecake Factory had a net margin of 4.38% and a return on equity of 45.89%. Research analysts forecast that The Cheesecake Factory Incorporated will post 3.71 EPS for the current fiscal year.

Cheesecake Factory Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 18th. Investors of record on Wednesday, March 5th will be issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 2.34%. The ex-dividend date of this dividend is Wednesday, March 5th. Cheesecake Factory’s dividend payout ratio is presently 33.75%.

About Cheesecake Factory

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.