Greenland Capital Management LP Makes New Investment in The Cheesecake Factory Incorporated (NASDAQ:CAKE)

Greenland Capital Management LP bought a new stake in The Cheesecake Factory Incorporated (NASDAQ:CAKE) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 50,718 shares of the restaurant operator’s stock, valued at approximately $2,406,000. Greenland Capital Management LP owned about 0.10% of Cheesecake Factory at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Golden State Wealth Management LLC bought a new position in Cheesecake Factory in the 4th quarter valued at $25,000. Versant Capital Management Inc raised its holdings 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 valued at $29,000 after buying an additional 320 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of Cheesecake Factory during the fourth quarter worth approximately $43,000. Venturi Wealth Management LLC lifted 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 worth $62,000 after buying an additional 1,207 shares in the last quarter. Finally, KBC Group NV raised its position in shares of Cheesecake Factory by 46.9% during the fourth 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 institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on CAKE. Wells Fargo & Company lifted their price objective on Cheesecake Factory from $45.00 to $52.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 20th. Stephens reiterated an “overweight” rating and set a $60.00 price target on shares of Cheesecake Factory in a research report on Thursday, February 20th. Jefferies Financial Group increased their price objective on shares of Cheesecake Factory from $49.00 to $58.00 and gave the company a “buy” rating in a report on Monday, December 16th. UBS Group raised their price objective on shares of Cheesecake Factory from $41.00 to $45.00 and gave the company a “sell” rating in a research note on Thursday, February 20th. Finally, Barclays upped their target price on shares of Cheesecake Factory from $46.00 to $50.00 and gave the company an “underweight” rating in a research report on Thursday, February 20th. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Cheesecake Factory has a consensus rating of “Hold” and an average price target of $52.13.

Cheesecake Factory Stock Down 2.8 %

Cheesecake Factory stock opened at $44.40 on Tuesday. The Cheesecake Factory Incorporated has a twelve month low of $33.05 and a twelve month high of $57.32. The company has a quick ratio of 0.33, a current ratio of 0.44 and a debt-to-equity ratio of 1.19. The company has a 50 day moving average of $51.32 and a 200-day moving average of $48.12. The stock has a market capitalization of $2.29 billion, a PE ratio of 13.88, a price-to-earnings-growth ratio of 1.31 and a beta of 1.24.

Cheesecake Factory (NASDAQ:CAKE) last released its earnings results on Wednesday, February 19th. The restaurant operator reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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%. On average, equities research analysts anticipate that The Cheesecake Factory Incorporated will post 3.71 EPS for the current fiscal year.

Cheesecake Factory Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Wednesday, March 5th were paid a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 2.43%. The ex-dividend date of this dividend was Wednesday, March 5th. Cheesecake Factory’s payout ratio is 33.75%.

Insiders Place Their Bets

In related news, Chairman David Overton sold 100,000 shares of the stock in a transaction 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 completion of the transaction, the chairman now owns 3,092,147 shares in the company, valued at approximately $164,131,162.76. This 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 the firm’s stock in a transaction on 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 directly owns 39,856 shares of the company’s stock, valued at approximately $2,134,687.36. This trade represents a 42.12 % decrease in their position. The disclosure for this sale can be found here. Insiders own 8.10% of the company’s stock.

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.