Cibc World Markets Corp Takes Position in The Cheesecake Factory Incorporated (NASDAQ:CAKE)

Cibc World Markets Corp purchased a new stake in shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor purchased 4,518 shares of the restaurant operator’s stock, valued at approximately $214,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC bought a new position in shares of Cheesecake Factory during the fourth quarter valued at approximately $25,000. Versant Capital Management Inc increased its stake in Cheesecake Factory by 108.1% in the fourth quarter. Versant Capital Management Inc now owns 616 shares of the restaurant operator’s stock worth $29,000 after purchasing an additional 320 shares during the period. SBI Securities Co. Ltd. bought a new stake in shares of Cheesecake Factory during the fourth quarter worth $43,000. Venturi Wealth Management LLC boosted its stake in shares of Cheesecake Factory by 1,149.5% during the fourth quarter. Venturi Wealth Management LLC now owns 1,312 shares of the restaurant operator’s stock valued at $62,000 after purchasing an additional 1,207 shares during the period. Finally, KBC Group NV grew its holdings in shares of Cheesecake Factory by 46.9% in the fourth quarter. KBC Group NV now owns 2,321 shares of the restaurant operator’s stock worth $110,000 after purchasing an additional 741 shares during the last quarter. 94.48% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

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

Cheesecake Factory Stock Down 0.6 %

Cheesecake Factory stock opened at $50.48 on Thursday. The Cheesecake Factory Incorporated has a 1-year low of $33.05 and a 1-year high of $57.32. The business has a fifty day moving average price of $51.61 and a 200-day moving average price of $47.42. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.44 and a quick ratio of 0.33. The stock has a market capitalization of $2.61 billion, a price-to-earnings ratio of 15.78, a PEG ratio of 1.31 and a beta of 1.55.

Cheesecake Factory (NASDAQ:CAKE) last issued its quarterly earnings results on Wednesday, February 19th. The restaurant operator reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.91 by $0.13. The business had revenue of $920.96 million for the quarter, compared to analyst estimates of $912.67 million. Cheesecake Factory had a return on equity of 45.89% and a net margin of 4.38%. Equities 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 disclosed a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Wednesday, March 5th were paid a dividend of $0.27 per share. The ex-dividend date was Wednesday, March 5th. This represents a $1.08 annualized dividend and a dividend yield of 2.14%. Cheesecake Factory’s payout ratio is currently 33.75%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on CAKE. Robert W. Baird set a $50.00 price objective on shares of Cheesecake Factory in a report on Tuesday, March 18th. Piper Sandler boosted their price target on Cheesecake Factory from $47.00 to $51.00 and gave the company a “neutral” rating in a report on Thursday, February 20th. Wells Fargo & Company raised their price objective on Cheesecake Factory from $45.00 to $52.00 and gave the stock an “equal weight” rating in a report on Thursday, February 20th. JPMorgan Chase & Co. lowered their target price on Cheesecake Factory from $55.00 to $48.00 and set an “underweight” rating for the company in a report on Thursday, March 20th. Finally, William Blair restated an “outperform” rating on shares of Cheesecake Factory in a research note on Thursday, February 20th. Four investment analysts have rated the stock with a sell rating, six have given a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $52.38.

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.