LPL Financial LLC Has $1.61 Million Position in The Cheesecake Factory Incorporated (NASDAQ:CAKE)

LPL Financial LLC grew its position in The Cheesecake Factory Incorporated (NASDAQ:CAKE) by 57.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 33,954 shares of the restaurant operator’s stock after purchasing an additional 12,370 shares during the quarter. LPL Financial LLC owned approximately 0.07% of Cheesecake Factory worth $1,611,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in CAKE. State Street Corp boosted its position in shares of Cheesecake Factory by 3.7% during the 3rd quarter. State Street Corp now owns 1,876,295 shares of the restaurant operator’s stock worth $76,084,000 after purchasing an additional 67,550 shares in the last quarter. American Century Companies Inc. grew its holdings in Cheesecake Factory by 15.8% during the fourth quarter. American Century Companies Inc. now owns 1,363,051 shares of the restaurant operator’s stock valued at $64,663,000 after purchasing an additional 186,026 shares during the period. Hennessy Advisors Inc. purchased a new stake in Cheesecake Factory during the fourth quarter valued at about $63,114,000. Geode Capital Management LLC grew its stake in Cheesecake Factory by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 1,118,549 shares of the restaurant operator’s stock valued at $45,365,000 after buying an additional 12,493 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its stake in Cheesecake Factory by 166.9% in the 4th quarter. Victory Capital Management Inc. now owns 1,076,347 shares of the restaurant operator’s stock worth $51,062,000 after purchasing an additional 673,076 shares during the period. Institutional investors own 94.48% of the company’s stock.

Insider Activity

In other news, Chairman David Overton sold 100,000 shares of the company’s stock in a transaction dated Thursday, February 27th. The stock was 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 $164,131,162.76. This represents a 3.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Matthew Eliot Clark sold 29,000 shares of Cheesecake Factory stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $53.56, for a total transaction of $1,553,240.00. Following the sale, the chief financial officer now owns 39,856 shares in the company, valued at approximately $2,134,687.36. The trade was 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.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on CAKE shares. The Goldman Sachs Group lifted their price target on Cheesecake Factory from $56.00 to $64.00 and gave the company a “buy” rating in a research report on Thursday, February 6th. Citigroup dropped their price target on shares of Cheesecake Factory from $67.00 to $62.00 and set a “buy” rating for the company in a research report on Tuesday. Robert W. Baird dropped their price target on Cheesecake Factory from $50.00 to $46.00 and set a “neutral” rating for the company in a research note on Monday, April 7th. Morgan Stanley set a $39.00 price target on Cheesecake Factory and gave the company an “underweight” rating in a research report on Monday. Finally, Wells Fargo & Company boosted their price target on Cheesecake Factory from $45.00 to $52.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 20th. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Cheesecake Factory currently has an average rating of “Hold” and a consensus target price of $52.75.

Cheesecake Factory Trading Down 0.4 %

Shares of CAKE stock opened at $46.81 on Thursday. The Cheesecake Factory Incorporated has a 1 year low of $33.20 and a 1 year high of $57.32. The firm has a fifty day moving average price of $49.71 and a 200-day moving average price of $48.34. The company has a market cap of $2.42 billion, a price-to-earnings ratio of 14.63, a PEG ratio of 1.31 and a beta of 1.24. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.44 and a quick ratio of 0.33.

Cheesecake Factory (NASDAQ:CAKE) last released its quarterly 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 business had revenue of $920.96 million during the quarter, compared to analyst estimates of $912.67 million. As a group, equities analysts predict that The Cheesecake Factory Incorporated will post 3.71 earnings per share for the current year.

Cheesecake Factory Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Wednesday, March 5th were paid a $0.27 dividend. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.31%. Cheesecake Factory’s dividend payout ratio (DPR) is presently 33.75%.

Cheesecake Factory 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.