The Cheesecake Factory Incorporated (NASDAQ:CAKE) Shares Bought by Russell Investments Group Ltd.

Russell Investments Group Ltd. increased its holdings in shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE) by 68.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 38,417 shares of the restaurant operator’s stock after purchasing an additional 15,600 shares during the quarter. Russell Investments Group Ltd. owned 0.08% of Cheesecake Factory worth $1,823,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Truist Financial Corp boosted its position 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 buying an additional 257 shares during the period. Blair William & Co. IL boosted its stake in shares of Cheesecake Factory by 5.2% during the fourth quarter. Blair William & Co. IL now owns 5,772 shares of the restaurant operator’s stock worth $274,000 after buying an additional 283 shares during the period. Versant Capital Management Inc increased its stake 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 buying an additional 320 shares during the period. Golden State Wealth Management LLC acquired a new stake in Cheesecake Factory in the fourth quarter valued at about $25,000. Finally, Swiss National Bank boosted its holdings in Cheesecake Factory by 0.6% during the fourth quarter. Swiss National Bank now owns 95,100 shares of the restaurant operator’s stock worth $4,512,000 after buying an additional 600 shares in the last quarter. Hedge funds and other institutional investors own 94.48% of the company’s stock.

Insider Activity

In other Cheesecake Factory news, Chairman David Overton sold 100,000 shares of Cheesecake Factory stock in a transaction dated 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 transaction, the chairman now owns 3,092,147 shares of the company’s stock, valued at $164,131,162.76. The trade was a 3.13 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Matthew Eliot Clark sold 29,000 shares of the stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $53.56, for a total transaction of $1,553,240.00. Following the completion of the sale, the chief financial officer now owns 39,856 shares of the company’s stock, 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. 8.10% of the stock is owned by company insiders.

Cheesecake Factory Trading Up 2.3 %

Cheesecake Factory stock opened at $47.87 on Friday. The Cheesecake Factory Incorporated has a 1 year low of $33.44 and a 1 year high of $57.32. The firm’s 50 day moving average price is $49.52 and its two-hundred day moving average price is $48.49. The firm has a market cap of $2.37 billion, a price-to-earnings ratio of 14.96, a price-to-earnings-growth ratio of 1.31 and a beta of 1.24. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.33 and a current ratio of 0.44.

Cheesecake Factory (NASDAQ:CAKE) last announced its earnings results on Wednesday, February 19th. The restaurant operator reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $912.67 million. On average, research analysts predict that The Cheesecake Factory Incorporated will post 3.71 EPS for the current fiscal year.

Cheesecake Factory Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Wednesday, March 5th were given a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 2.26%. The ex-dividend date was Wednesday, March 5th. 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. The Goldman Sachs Group boosted their target price on Cheesecake Factory from $56.00 to $64.00 and gave the stock a “buy” rating in a research report on Thursday, February 6th. William Blair restated an “outperform” rating on shares of Cheesecake Factory in a report on Thursday, February 20th. Morgan Stanley set a $39.00 price target on Cheesecake Factory and gave the stock an “underweight” rating in a research note on Monday, April 14th. Piper Sandler lifted their target price on shares of Cheesecake Factory from $47.00 to $51.00 and gave the company a “neutral” rating in a report on Thursday, February 20th. Finally, Robert W. Baird dropped their price objective on shares of Cheesecake Factory from $50.00 to $46.00 and set a “neutral” rating on the stock in a research note on Monday, April 7th. Four analysts have rated the stock with a sell rating, six have given a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $52.75.

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.