Proficio Capital Partners LLC Takes Position in The Cheesecake Factory Incorporated (NASDAQ:CAKE)

Proficio Capital Partners LLC bought a new position in shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 49,670 shares of the restaurant operator’s stock, valued at approximately $2,356,000. Proficio Capital Partners LLC owned about 0.10% of Cheesecake Factory as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of CAKE. Golden State Wealth Management LLC bought a new position in shares of Cheesecake Factory during the 4th quarter valued at about $25,000. Versant Capital Management Inc lifted its position in shares of Cheesecake Factory by 108.1% in the fourth quarter. Versant Capital Management Inc now owns 616 shares of the restaurant operator’s stock worth $29,000 after buying an additional 320 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in Cheesecake Factory during the fourth quarter valued at approximately $43,000. Venturi Wealth Management LLC grew its holdings in Cheesecake Factory by 1,149.5% during the 4th quarter. Venturi Wealth Management LLC now owns 1,312 shares of the restaurant operator’s stock valued at $62,000 after buying an additional 1,207 shares in the last quarter. Finally, KBC Group NV increased its stake in Cheesecake Factory by 46.9% in the 4th quarter. KBC Group NV now owns 2,321 shares of the restaurant operator’s stock worth $110,000 after acquiring an additional 741 shares during the last quarter. 94.48% of the stock is owned by hedge funds and other institutional investors.

Cheesecake Factory Stock Down 1.0 %

NASDAQ:CAKE opened at $46.81 on Wednesday. The stock has a fifty day simple moving average of $51.56 and a 200-day simple moving average of $47.01. 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 company has a market cap of $2.42 billion, a price-to-earnings ratio of 14.63, a price-to-earnings-growth ratio of 1.31 and a beta of 1.55. The Cheesecake Factory Incorporated has a twelve month low of $33.05 and a twelve month high of $57.32.

Cheesecake Factory (NASDAQ:CAKE) last announced its quarterly earnings data on Wednesday, February 19th. The restaurant operator reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.91 by $0.13. The company had revenue of $920.96 million during the quarter, compared to analyst estimates of $912.67 million. Cheesecake Factory had a net margin of 4.38% and a return on equity of 45.89%. Analysts anticipate that The Cheesecake Factory Incorporated will post 3.71 EPS for the current year.

Cheesecake Factory Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on CAKE shares. Wedbush increased their target price on Cheesecake Factory from $59.00 to $61.00 and gave the company an “outperform” rating in a research report on Thursday, February 20th. Piper Sandler increased their price objective on shares of Cheesecake Factory from $47.00 to $51.00 and gave the company a “neutral” rating in a research report on Thursday, February 20th. UBS Group boosted their target price 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. Morgan Stanley increased their price target on shares of Cheesecake Factory from $37.00 to $40.00 and gave the company an “underweight” rating in a report on Thursday, February 20th. Finally, Raymond James boosted their price objective on Cheesecake Factory from $51.00 to $56.00 and gave the stock an “outperform” rating in a research note on Monday, December 16th. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, Cheesecake Factory has a consensus rating of “Hold” and an average target price of $52.19.

Insider Buying and Selling

In other Cheesecake Factory news, CFO Matthew Eliot Clark sold 29,000 shares of the stock in a transaction dated 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 transaction, the chief financial officer now directly owns 39,856 shares in the company, valued at $2,134,687.36. This represents a 42.12 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman David Overton sold 100,000 shares of the business’s stock in a transaction dated 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 completion of the sale, the chairman now owns 3,092,147 shares of the company’s stock, valued at approximately $164,131,162.76. This represents a 3.13 % decrease in their position. The disclosure for this sale can be found here. 8.10% of the stock is owned by insiders.

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.