ExodusPoint Capital Management LP Invests $3.61 Million in The Cheesecake Factory Incorporated (NASDAQ:CAKE)

ExodusPoint Capital Management LP purchased a new stake in shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE) during the 4th quarter, Holdings Channel reports. The fund purchased 75,988 shares of the restaurant operator’s stock, valued at approximately $3,605,000.

A number of other institutional investors have also added to or reduced their stakes in the stock. Golden State Wealth Management LLC acquired a new stake in Cheesecake Factory in the fourth quarter valued at approximately $25,000. Versant Capital Management Inc lifted its stake in shares of 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 acquiring an additional 320 shares during the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of Cheesecake Factory during the 4th quarter valued at $43,000. Venturi Wealth Management LLC grew its position 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 worth $62,000 after acquiring an additional 1,207 shares during the last quarter. Finally, KBC Group NV raised its position in 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 purchasing an additional 741 shares during the last quarter. 94.48% of the stock is currently owned by institutional investors and hedge funds.

Cheesecake Factory Trading Down 2.4 %

NASDAQ CAKE opened at $45.68 on Monday. 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 fifty day simple moving average of $51.47 and a 200 day simple moving average of $48.08. The Cheesecake Factory Incorporated has a 12 month low of $33.05 and a 12 month high of $57.32. The firm has a market capitalization of $2.36 billion, a P/E ratio of 14.28, a PEG ratio of 1.31 and a beta of 1.24.

Cheesecake Factory (NASDAQ:CAKE) last released its quarterly earnings results 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. Cheesecake Factory had a net margin of 4.38% and a return on equity of 45.89%. The company had revenue of $920.96 million for the quarter, compared to analyst estimates of $912.67 million. On average, analysts predict that The Cheesecake Factory Incorporated will post 3.71 EPS for the current fiscal year.

Cheesecake Factory Dividend Announcement

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

Insider Activity at Cheesecake Factory

In related 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 completion of the transaction, the chief financial officer now owns 39,856 shares in the company, valued at approximately $2,134,687.36. This represents a 42.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 completion of the sale, the chairman now directly owns 3,092,147 shares in the company, 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 currently owned by company insiders.

Analysts Set New Price Targets

CAKE has been the subject of several recent analyst reports. Jefferies Financial Group raised their target price on Cheesecake Factory from $49.00 to $58.00 and gave the stock a “buy” rating in a research note on Monday, December 16th. Piper Sandler lifted their price objective on shares of Cheesecake Factory from $47.00 to $51.00 and gave the company a “neutral” rating in a research note on Thursday, February 20th. The Goldman Sachs Group increased their target price on shares of Cheesecake Factory from $56.00 to $64.00 and gave the stock a “buy” rating in a research note on Thursday, February 6th. Citigroup reaffirmed a “buy” rating on shares of Cheesecake Factory in a research note on Tuesday, February 4th. Finally, Oppenheimer raised shares of Cheesecake Factory from a “market perform” rating to an “outperform” rating and set a $65.00 price objective on the stock in a research report on Tuesday, January 7th. Four research analysts have rated the stock with a sell rating, six have given a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $52.38.

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.