Proficio Capital Partners LLC Acquires Shares of 49,670 The Cheesecake Factory Incorporated (NASDAQ:CAKE)

Proficio Capital Partners LLC acquired a new stake in The Cheesecake Factory Incorporated (NASDAQ:CAKE - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 49,670 shares of the restaurant operator's stock, valued at approximately $2,356,000. Proficio Capital Partners LLC owned 0.10% of Cheesecake Factory as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Hussman Strategic Advisors Inc. purchased a new position in Cheesecake Factory during the fourth quarter worth about $797,000. New York State Common Retirement Fund raised its stake in shares of Cheesecake Factory by 2.3% during the 4th quarter. New York State Common Retirement Fund now owns 200,222 shares of the restaurant operator's stock worth $9,499,000 after buying an additional 4,516 shares in the last quarter. Venturi Wealth Management LLC lifted its holdings in shares of Cheesecake Factory by 1,149.5% in the 4th quarter. Venturi Wealth Management LLC now owns 1,312 shares of the restaurant operator's stock valued at $62,000 after buying an additional 1,207 shares during the period. Truist Financial Corp boosted its stake in shares of Cheesecake Factory by 3.3% in the fourth quarter. Truist Financial Corp now owns 8,045 shares of the restaurant operator's stock valued at $382,000 after buying an additional 257 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its stake in shares of Cheesecake Factory by 5.2% in the fourth quarter. Principal Financial Group Inc. now owns 268,830 shares of the restaurant operator's stock valued at $12,753,000 after buying an additional 13,235 shares in the last quarter. Institutional investors and hedge funds own 94.48% of the company's stock.

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Insider Activity at Cheesecake Factory

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

Cheesecake Factory Trading Up 1.9 %

Shares of CAKE traded up $0.94 during mid-day trading on Friday, reaching $49.16. The company had a trading volume of 2,007,610 shares, compared to its average volume of 1,657,595. The Cheesecake Factory Incorporated has a fifty-two week low of $33.05 and a fifty-two week high of $57.32. The firm has a fifty day simple moving average of $51.78 and a 200-day simple moving average of $46.47. The stock has a market cap of $2.54 billion, a price-to-earnings ratio of 15.36, a price-to-earnings-growth ratio of 1.31 and a beta of 1.55. The company has a current ratio of 0.44, a quick ratio of 0.33 and a debt-to-equity ratio of 1.19.

Cheesecake Factory (NASDAQ:CAKE - Get Free Report) last posted its quarterly earnings results on Wednesday, February 19th. The restaurant operator reported $1.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.91 by $0.13. The firm had revenue of $920.96 million during the quarter, compared to the consensus estimate of $912.67 million. Cheesecake Factory had a return on equity of 45.89% and a net margin of 4.38%. On average, sell-side analysts anticipate that The Cheesecake Factory Incorporated will post 3.71 EPS for the current fiscal year.

Cheesecake Factory Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 18th. Stockholders of record on Wednesday, March 5th will be paid a $0.27 dividend. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.20%. Cheesecake Factory's dividend payout ratio (DPR) is currently 33.75%.

Analysts Set New Price Targets

A number of research firms have commented on CAKE. Barclays raised their target price on Cheesecake Factory from $46.00 to $50.00 and gave the company an "underweight" rating in a report on Thursday, February 20th. William Blair reiterated an "outperform" rating on shares of Cheesecake Factory in a research note on Thursday, February 20th. Oppenheimer upgraded shares of Cheesecake Factory from a "market perform" rating to an "outperform" rating and set a $65.00 target price on the stock in a research report on Tuesday, January 7th. StockNews.com cut Cheesecake Factory from a "buy" rating to a "hold" rating in a report on Thursday, November 28th. Finally, Wells Fargo & Company lifted 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. Four analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, Cheesecake Factory has a consensus rating of "Hold" and a consensus target price of $52.19.

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.