David Overton Sells 100,000 Shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE) Stock

The Cheesecake Factory Incorporated (NASDAQ:CAKE - Get Free Report) Chairman David Overton sold 100,000 shares of the business's stock in a transaction that occurred 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 transaction, the chairman now owns 3,092,147 shares of the company's stock, valued at $164,131,162.76. This trade represents a 3.13 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Cheesecake Factory Stock Performance

Shares of NASDAQ CAKE traded down $1.04 during mid-day trading on Tuesday, hitting $50.25. The stock had a trading volume of 2,292,554 shares, compared to its average volume of 1,656,392. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.33 and a current ratio of 0.44. The company has a 50 day moving average of $51.75 and a two-hundred day moving average of $46.43. The Cheesecake Factory Incorporated has a twelve month low of $33.05 and a twelve month high of $57.32. The firm has a market cap of $2.60 billion, a PE ratio of 15.70, a PEG ratio of 1.31 and a beta of 1.51.

Cheesecake Factory (NASDAQ:CAKE - Get Free Report) last released its earnings results on Wednesday, February 19th. The restaurant operator reported $1.04 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $920.96 million for the quarter, compared to the consensus estimate of $912.67 million. Research analysts predict that The Cheesecake Factory Incorporated will post 3.71 EPS for the current fiscal year.

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Cheesecake Factory Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 18th. Investors of record on Wednesday, March 5th will be given a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 2.15%. The ex-dividend date is Wednesday, March 5th. Cheesecake Factory's payout ratio is 33.75%.

Analyst Upgrades and Downgrades

CAKE has been the subject of a number of research reports. 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. The Goldman Sachs Group boosted their price objective 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. UBS Group boosted their price objective on shares of Cheesecake Factory from $41.00 to $45.00 and gave the stock a "sell" rating in a research note on Thursday, February 20th. Jefferies Financial Group boosted their price objective on shares of Cheesecake Factory from $49.00 to $58.00 and gave the stock a "buy" rating in a research note on Monday, December 16th. Finally, William Blair reissued 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 assigned a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $52.19.

Institutional Investors Weigh In On Cheesecake Factory

Several hedge funds have recently added to or reduced their stakes in the business. Lido Advisors LLC boosted its stake in shares of Cheesecake Factory by 2.0% during the 4th quarter. Lido Advisors LLC now owns 10,805 shares of the restaurant operator's stock worth $513,000 after acquiring an additional 215 shares in the last quarter. Summit Investment Advisors Inc. raised its position in shares of Cheesecake Factory by 4.7% during the 4th quarter. Summit Investment Advisors Inc. now owns 5,051 shares of the restaurant operator's stock worth $240,000 after purchasing an additional 228 shares during the last quarter. Truist Financial Corp raised its holdings in Cheesecake Factory by 3.3% in the 4th quarter. Truist Financial Corp now owns 8,045 shares of the restaurant operator's stock valued at $382,000 after acquiring an additional 257 shares during the last quarter. Blair William & Co. IL raised its holdings in Cheesecake Factory by 5.2% in the 4th quarter. Blair William & Co. IL now owns 5,772 shares of the restaurant operator's stock valued at $274,000 after acquiring an additional 283 shares during the last quarter. Finally, Versant Capital Management Inc raised its holdings in Cheesecake Factory by 108.1% in the 4th quarter. Versant Capital Management Inc now owns 616 shares of the restaurant operator's stock valued at $29,000 after acquiring an additional 320 shares during the last quarter. 94.48% of the stock is owned by hedge funds and other institutional investors.

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.