Charles Schwab Investment Management Inc. Sells 7,908 Shares of The Cheesecake Factory Incorporated $CAKE

Charles Schwab Investment Management Inc. lowered its stake in The Cheesecake Factory Incorporated (NASDAQ:CAKE) by 1.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 610,762 shares of the restaurant operator’s stock after selling 7,908 shares during the period. Charles Schwab Investment Management Inc. owned approximately 1.24% of Cheesecake Factory worth $29,720,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of CAKE. USA Financial Formulas acquired a new position in shares of Cheesecake Factory in the first quarter worth approximately $49,000. Golden State Wealth Management LLC lifted its stake in shares of Cheesecake Factory by 100.0% in the first quarter. Golden State Wealth Management LLC now owns 1,060 shares of the restaurant operator’s stock worth $52,000 after acquiring an additional 530 shares during the period. SBI Securities Co. Ltd. lifted its stake in shares of Cheesecake Factory by 38.5% in the first quarter. SBI Securities Co. Ltd. now owns 1,244 shares of the restaurant operator’s stock worth $61,000 after acquiring an additional 346 shares during the period. Bayforest Capital Ltd acquired a new position in shares of Cheesecake Factory in the first quarter worth approximately $72,000. Finally, FORA Capital LLC acquired a new position in shares of Cheesecake Factory in the fourth quarter worth approximately $203,000. Institutional investors own 94.48% of the company’s stock.

Cheesecake Factory Trading Up 0.2%

Shares of Cheesecake Factory stock opened at $62.08 on Wednesday. The stock has a fifty day simple moving average of $62.56 and a 200 day simple moving average of $55.20. The Cheesecake Factory Incorporated has a 12-month low of $35.40 and a 12-month high of $69.70. The company has a market capitalization of $3.09 billion, a P/E ratio of 19.10, a price-to-earnings-growth ratio of 1.48 and a beta of 1.17. The company has a current ratio of 0.51, a quick ratio of 0.42 and a debt-to-equity ratio of 1.40.

Cheesecake Factory (NASDAQ:CAKE) last announced its quarterly earnings results on Tuesday, July 29th. The restaurant operator reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.10. The business had revenue of $955.83 million during the quarter, compared to the consensus estimate of $945.82 million. Cheesecake Factory had a return on equity of 45.92% and a net margin of 4.33%.Cheesecake Factory’s revenue was up 5.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.09 earnings per share. On average, sell-side analysts anticipate that The Cheesecake Factory Incorporated will post 3.71 earnings per share for the current fiscal year.

Cheesecake Factory Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 26th. Investors of record on Tuesday, August 12th will be issued a dividend of $0.27 per share. The ex-dividend date of this dividend is Tuesday, August 12th. This represents a $1.08 dividend on an annualized basis and a yield of 1.7%. Cheesecake Factory’s dividend payout ratio is 33.23%.

Insider Buying and Selling at Cheesecake Factory

In other Cheesecake Factory news, EVP Scarlett May sold 18,800 shares of the firm’s stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $58.82, for a total value of $1,105,816.00. Following the sale, the executive vice president owned 22,872 shares of the company’s stock, valued at $1,345,331.04. This trade represents a 45.11% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Matthew Eliot Clark sold 42,900 shares of the stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $56.00, for a total value of $2,402,400.00. Following the transaction, the chief financial officer owned 40,878 shares in the company, valued at $2,289,168. This trade represents a 51.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 188,723 shares of company stock worth $11,005,819 in the last three months. 8.10% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on CAKE shares. JPMorgan Chase & Co. lifted their price objective on Cheesecake Factory from $50.00 to $58.00 and gave the stock an “underweight” rating in a research note on Wednesday, June 25th. Barclays boosted their price target on Cheesecake Factory from $57.00 to $62.00 and gave the company an “underweight” rating in a research note on Wednesday, July 30th. Argus set a $60.00 price target on Cheesecake Factory in a research note on Wednesday, May 14th. Oppenheimer boosted their price target on Cheesecake Factory from $65.00 to $75.00 and gave the company an “outperform” rating in a research note on Friday, July 11th. Finally, Morgan Stanley boosted their price target on Cheesecake Factory from $45.00 to $47.00 and gave the company an “underweight” rating in a research note on Thursday, July 31st. Seven research analysts have rated the stock with a Buy rating, five have given a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $61.94.

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.