Invesco Ltd. Purchases 155,614 Shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE)

Invesco Ltd. increased its position in shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE - Free Report) by 12.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,412,483 shares of the restaurant operator's stock after buying an additional 155,614 shares during the period. Invesco Ltd. owned 2.77% of Cheesecake Factory worth $67,008,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the company. Golden State Wealth Management LLC acquired a new position in Cheesecake Factory during the fourth quarter worth approximately $25,000. Versant Capital Management Inc increased its holdings in shares of Cheesecake Factory by 108.1% during the 4th quarter. Versant Capital Management Inc now owns 616 shares of the restaurant operator's stock worth $29,000 after acquiring an additional 320 shares during the last quarter. SBI Securities Co. Ltd. bought a new stake in Cheesecake Factory in the 4th quarter valued at $43,000. Venturi Wealth Management LLC lifted its holdings in Cheesecake Factory by 1,149.5% during the 4th 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 last quarter. Finally, KBC Group NV boosted its position in Cheesecake Factory by 46.9% during 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 period. 94.48% of the stock is currently owned by institutional investors and hedge funds.

Cheesecake Factory Stock Performance

Shares of CAKE traded up $1.06 on Friday, reaching $47.87. 867,660 shares of the company's stock traded hands, compared to its average volume of 1,182,488. The stock's 50 day simple moving average is $49.52 and its two-hundred day simple moving average is $48.44. The stock has a market cap of $2.47 billion, a PE ratio of 14.96, a PEG ratio of 1.31 and a beta of 1.24. The Cheesecake Factory Incorporated has a 52-week low of $33.44 and a 52-week high of $57.32. 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 announced its quarterly earnings data on Wednesday, February 19th. The restaurant operator reported $1.04 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.13. The company had revenue of $920.96 million during 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%. On average, analysts forecast that The Cheesecake Factory Incorporated will post 3.71 earnings per share for the current fiscal year.

Cheesecake Factory Announces Dividend

The firm also recently announced 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 annualized dividend and a yield of 2.26%. The ex-dividend date of this dividend was Wednesday, March 5th. Cheesecake Factory's payout ratio is 33.75%.

Insider Buying and Selling at Cheesecake Factory

In other news, CFO Matthew Eliot Clark sold 29,000 shares of the stock in a transaction on 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 transaction, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman David Overton sold 100,000 shares of Cheesecake Factory stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $53.08, for a total transaction of $5,308,000.00. Following the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders own 8.10% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently commented on CAKE shares. Stephens reaffirmed an "overweight" rating and issued a $60.00 target price on shares of Cheesecake Factory in a research report on Thursday, February 20th. UBS Group increased their price objective on Cheesecake Factory from $41.00 to $45.00 and gave the stock a "sell" rating in a research report on Thursday, February 20th. The Goldman Sachs Group boosted their target price on shares of Cheesecake Factory from $56.00 to $64.00 and gave the company a "buy" rating in a research report on Thursday, February 6th. Piper Sandler raised their price target 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. Finally, Oppenheimer raised shares of Cheesecake Factory from a "market perform" rating to an "outperform" rating and set a $65.00 price objective for the company in a report on Tuesday, January 7th. Four analysts have rated the stock with a sell rating, six have issued a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat, Cheesecake Factory currently has an average rating of "Hold" and an average target price of $52.75.

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.