The Cheesecake Factory Incorporated (NASDAQ:CAKE) Stock Holdings Increased by Diametric Capital LP

Diametric Capital LP boosted its stake in shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE) by 271.3% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 48,461 shares of the restaurant operator’s stock after acquiring an additional 35,410 shares during the quarter. Cheesecake Factory makes up 1.6% of Diametric Capital LP’s investment portfolio, making the stock its 6th biggest position. Diametric Capital LP’s holdings in Cheesecake Factory were worth $2,299,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Golden State Wealth Management LLC acquired a new position in shares of Cheesecake Factory in the 4th quarter worth approximately $25,000. Versant Capital Management Inc raised its position in Cheesecake Factory by 108.1% in the fourth quarter. Versant Capital Management Inc now owns 616 shares of the restaurant operator’s stock valued at $29,000 after purchasing an additional 320 shares during the period. SBI Securities Co. Ltd. acquired a new position in Cheesecake Factory during the fourth quarter worth $43,000. Venturi Wealth Management LLC boosted its position in shares of Cheesecake Factory by 1,149.5% during the fourth quarter. Venturi Wealth Management LLC now owns 1,312 shares of the restaurant operator’s stock worth $62,000 after buying an additional 1,207 shares during the period. Finally, KBC Group NV grew its stake in shares of Cheesecake Factory by 46.9% in the fourth quarter. KBC Group NV now owns 2,321 shares of the restaurant operator’s stock valued at $110,000 after buying an additional 741 shares in the last quarter. 94.48% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Piper Sandler increased their target price on Cheesecake Factory from $47.00 to $51.00 and gave the stock a “neutral” rating in a research note on Thursday, February 20th. UBS Group increased their price target on shares of Cheesecake Factory from $41.00 to $45.00 and gave the stock a “sell” rating in a research report on Thursday, February 20th. Wells Fargo & Company lifted their price objective on shares of Cheesecake Factory from $45.00 to $52.00 and gave the company an “equal weight” rating in a report on Thursday, February 20th. Jefferies Financial Group upped their target price on shares of Cheesecake Factory from $49.00 to $58.00 and gave the stock a “buy” rating in a research note on Monday, December 16th. Finally, Morgan Stanley raised their price target on shares of Cheesecake Factory from $37.00 to $40.00 and gave the company an “underweight” rating in a research 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 company’s stock. According to MarketBeat.com, Cheesecake Factory currently has a consensus rating of “Hold” and a consensus price target of $52.38.

Insider Buying and Selling

In other Cheesecake Factory news, Chairman David Overton sold 100,000 shares of the firm’s 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 approximately $164,131,162.76. This trade represents a 3.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Matthew Eliot Clark sold 29,000 shares of Cheesecake Factory stock in a transaction dated Thursday, February 27th. The stock was 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 in the company, valued at $2,134,687.36. This trade represents 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 Down 2.1 %

NASDAQ:CAKE opened at $48.66 on Tuesday. The Cheesecake Factory Incorporated has a 1 year low of $33.05 and a 1 year high of $57.32. The stock has a market cap of $2.51 billion, a P/E ratio of 15.21, a P/E/G ratio of 1.31 and a beta of 1.55. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.33 and a current ratio of 0.44. The stock has a 50-day simple moving average of $51.68 and a 200-day simple moving average of $47.78.

Cheesecake Factory (NASDAQ:CAKE) last posted its earnings results 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 firm had revenue of $920.96 million during the quarter, compared to analysts’ expectations of $912.67 million. Cheesecake Factory had a return on equity of 45.89% and a net margin of 4.38%. As a group, 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 announced a quarterly dividend, which was paid on Tuesday, March 18th. Investors of record on Wednesday, March 5th were given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date was Wednesday, March 5th. Cheesecake Factory’s dividend payout ratio (DPR) is 33.75%.

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.