Wellington Management Group LLP Takes Position in The Cheesecake Factory Incorporated (NASDAQ:CAKE)

Wellington Management Group LLP purchased a new position in The Cheesecake Factory Incorporated (NASDAQ:CAKE - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 1,186,511 shares of the restaurant operator's stock, valued at approximately $56,288,000. Wellington Management Group LLP owned 2.32% of Cheesecake Factory at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Cheesecake Factory by 7.2% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,090 shares of the restaurant operator's stock worth $450,000 after buying an additional 749 shares during the period. Centiva Capital LP bought a new stake in Cheesecake Factory in the 3rd quarter worth $329,000. HighTower Advisors LLC increased its position in shares of Cheesecake Factory by 2.7% in the third quarter. HighTower Advisors LLC now owns 39,989 shares of the restaurant operator's stock valued at $1,616,000 after acquiring an additional 1,035 shares during the period. Stifel Financial Corp raised its stake in shares of Cheesecake Factory by 4.4% during the third quarter. Stifel Financial Corp now owns 79,148 shares of the restaurant operator's stock valued at $3,209,000 after acquiring an additional 3,342 shares during the last quarter. Finally, State Street Corp raised its stake in shares of Cheesecake Factory by 3.7% during the third quarter. State Street Corp now owns 1,876,295 shares of the restaurant operator's stock valued at $76,084,000 after acquiring an additional 67,550 shares during the last quarter. Institutional investors own 94.48% of the company's stock.

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Wall Street Analyst Weigh In

A number of research analysts recently issued reports on CAKE shares. Oppenheimer upgraded Cheesecake Factory from a "market perform" rating to an "outperform" rating and set a $65.00 price target on the stock in a report on Tuesday, January 7th. Citigroup reissued a "buy" rating on shares of Cheesecake Factory in a research note on Tuesday, February 4th. Wells Fargo & Company raised their price target on Cheesecake Factory from $45.00 to $52.00 and gave the stock an "equal weight" rating in a research note on Thursday, February 20th. Stephens reissued an "overweight" rating and set a $60.00 price objective on shares of Cheesecake Factory in a research report on Thursday, February 20th. Finally, Piper Sandler raised their target price on shares of Cheesecake Factory from $47.00 to $51.00 and gave the stock a "neutral" rating in a research report 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. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $52.13.

Cheesecake Factory Stock Down 2.8 %

Cheesecake Factory stock traded down $1.28 during trading hours on Monday, hitting $44.40. The stock had a trading volume of 1,853,980 shares, compared to its average volume of 1,165,865. The stock's 50-day moving average price is $51.32 and its 200-day moving average price is $48.12. The Cheesecake Factory Incorporated has a 12-month low of $33.05 and a 12-month 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 stock has a market capitalization of $2.29 billion, a P/E ratio of 13.88, a price-to-earnings-growth ratio of 1.31 and a beta of 1.24.

Cheesecake Factory (NASDAQ:CAKE - Get Free Report) last released its quarterly earnings data on Wednesday, February 19th. The restaurant operator reported $1.04 EPS for the quarter, topping the consensus estimate of $0.91 by $0.13. Cheesecake Factory had a return on equity of 45.89% and a net margin of 4.38%. The company had revenue of $920.96 million during the quarter, compared to the consensus estimate of $912.67 million. Equities research analysts anticipate that The Cheesecake Factory Incorporated will post 3.71 EPS for the current fiscal year.

Cheesecake Factory Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 18th. Investors of record on Wednesday, March 5th were given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 2.43%. The ex-dividend date of this dividend was Wednesday, March 5th. Cheesecake Factory's dividend payout ratio (DPR) is presently 33.75%.

Insider Activity

In related news, Chairman David Overton sold 100,000 shares of the company'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 transaction, the chairman now owns 3,092,147 shares of the company's stock, valued at approximately $164,131,162.76. This represents a 3.13 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Matthew Eliot Clark sold 29,000 shares of the company's stock in a transaction dated 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 transaction, the chief financial officer now directly 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 position. The disclosure for this sale can be found here. Insiders own 8.10% of the company's stock.

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.