Wellington Management Group LLP Acquires Shares of 1,186,511 The Cheesecake Factory Incorporated (NASDAQ:CAKE)

Wellington Management Group LLP bought a new position in shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE) during the fourth quarter, according to its most recent filing with the SEC. The fund bought 1,186,511 shares of the restaurant operator’s stock, valued at approximately $56,288,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in Cheesecake Factory by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 5,443,458 shares of the restaurant operator’s stock valued at $258,238,000 after acquiring an additional 21,096 shares during the last quarter. State Street Corp raised its holdings in shares of Cheesecake Factory by 3.7% in 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 during the period. American Century Companies Inc. lifted its stake in Cheesecake Factory by 15.8% in 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 last quarter. Hennessy Advisors Inc. bought a new position in Cheesecake Factory during the fourth quarter valued at $63,114,000. Finally, Geode Capital Management LLC increased its position in Cheesecake Factory by 1.1% in the third quarter. Geode Capital Management LLC now owns 1,118,549 shares of the restaurant operator’s stock worth $45,365,000 after buying an additional 12,493 shares during the last quarter. 94.48% of the stock is owned by hedge funds and other institutional investors.

Cheesecake Factory Stock Down 2.4 %

Shares of NASDAQ CAKE opened at $45.68 on Friday. The company has a current ratio of 0.44, a quick ratio of 0.33 and a debt-to-equity ratio of 1.19. The business has a 50-day moving average of $51.47 and a 200-day moving average of $48.01. The firm has a market capitalization of $2.36 billion, a price-to-earnings ratio of 14.28, a PEG ratio of 1.31 and a beta of 1.24. The Cheesecake Factory Incorporated has a 12 month low of $33.05 and a 12 month high of $57.32.

Cheesecake Factory (NASDAQ:CAKE) last released its quarterly earnings results on Wednesday, February 19th. The restaurant operator reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.13. The business had revenue of $920.96 million during the quarter, compared to analysts’ expectations of $912.67 million. Cheesecake Factory had a net margin of 4.38% and a return on equity of 45.89%. Sell-side analysts expect that The Cheesecake Factory Incorporated will post 3.71 earnings per share for the current fiscal year.

Cheesecake Factory Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Investors of record on Wednesday, March 5th were paid a $0.27 dividend. The ex-dividend date was Wednesday, March 5th. This represents a $1.08 dividend on an annualized basis and a yield of 2.36%. Cheesecake Factory’s dividend payout ratio is presently 33.75%.

Insider Buying and Selling at Cheesecake Factory

In other Cheesecake Factory news, Chairman David Overton sold 100,000 shares of the stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $53.08, for a total transaction of $5,308,000.00. Following the transaction, the chairman now directly owns 3,092,147 shares in the company, valued at $164,131,162.76. This trade represents a 3.13 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, 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 stock was sold at an average price of $53.56, for a total transaction of $1,553,240.00. Following the transaction, the chief financial officer now directly owns 39,856 shares in the company, valued at $2,134,687.36. This trade represents a 42.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 8.10% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Citigroup reaffirmed a “buy” rating on shares of Cheesecake Factory in a research report on Tuesday, February 4th. Morgan Stanley increased their target price on shares of Cheesecake Factory from $37.00 to $40.00 and gave the stock an “underweight” rating in a research report on Thursday, February 20th. Wedbush boosted their price target on shares of Cheesecake Factory from $59.00 to $61.00 and gave the company an “outperform” rating in a research report on Thursday, February 20th. UBS Group raised their price objective on shares of Cheesecake Factory from $41.00 to $45.00 and gave the stock a “sell” rating in a report on Thursday, February 20th. Finally, William Blair reissued an “outperform” rating on shares of Cheesecake Factory in a report on Thursday, February 20th. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, Cheesecake Factory currently has an average rating of “Hold” and an average target price of $52.38.

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.