Stock Traders Buy High Volume of Call Options on Cheesecake Factory (NASDAQ:CAKE)

The Cheesecake Factory Incorporated (NASDAQ:CAKEGet Rating) was the target of some unusual options trading on Monday. Investors acquired 3,178 call options on the company. This is an increase of 189% compared to the average volume of 1,099 call options.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Wedbush lowered Cheesecake Factory from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from $37.00 to $35.00 in a report on Friday, December 2nd. Barclays dropped their target price on Cheesecake Factory from $31.00 to $28.00 and set an “underweight” rating on the stock in a report on Thursday, January 5th. Deutsche Bank Aktiengesellschaft raised their target price on Cheesecake Factory from $31.00 to $36.00 and gave the stock a “hold” rating in a report on Wednesday, November 2nd. Morgan Stanley raised their target price on Cheesecake Factory from $26.00 to $31.00 and gave the stock an “underweight” rating in a report on Wednesday, January 18th. Finally, StockNews.com began coverage on Cheesecake Factory in a report on Wednesday, October 12th. They issued a “hold” rating on the stock. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Cheesecake Factory currently has an average rating of “Hold” and an average target price of $34.40.

Cheesecake Factory Stock Performance

Shares of Cheesecake Factory stock opened at $40.93 on Tuesday. Cheesecake Factory has a one year low of $26.05 and a one year high of $44.65. The company has a market cap of $2.10 billion, a price-to-earnings ratio of 43.54, a PEG ratio of 2.68 and a beta of 1.36. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.42 and a current ratio of 0.52. The business’s 50 day moving average price is $34.77 and its 200 day moving average price is $32.57.

Cheesecake Factory (NASDAQ:CAKEGet Rating) last announced its quarterly earnings data on Tuesday, November 1st. The restaurant operator reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.31). Cheesecake Factory had a return on equity of 21.50% and a net margin of 1.52%. The company had revenue of $784.00 million for the quarter, compared to analysts’ expectations of $799.33 million. On average, research analysts predict that Cheesecake Factory will post 1.54 EPS for the current year.

Cheesecake Factory Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, November 28th. Shareholders of record on Tuesday, November 15th were paid a dividend of $0.27 per share. The ex-dividend date was Monday, November 14th. This represents a $1.08 annualized dividend and a yield of 2.64%. Cheesecake Factory’s dividend payout ratio (DPR) is 114.89%.

Insider Activity

In other news, Director Edie A. Ames acquired 4,000 shares of the business’s stock in a transaction dated Thursday, December 8th. The shares were acquired at an average cost of $32.25 per share, with a total value of $129,000.00. Following the completion of the acquisition, the director now owns 12,500 shares of the company’s stock, valued at $403,125. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 8.20% of the company’s stock.

Institutional Investors Weigh In On Cheesecake Factory

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CAKE. Millennium Management LLC increased its stake in Cheesecake Factory by 2,369.2% during the second quarter. Millennium Management LLC now owns 905,116 shares of the restaurant operator’s stock worth $23,913,000 after acquiring an additional 868,460 shares during the last quarter. Rockefeller Capital Management L.P. increased its stake in Cheesecake Factory by 52,812.3% during the third quarter. Rockefeller Capital Management L.P. now owns 656,642 shares of the restaurant operator’s stock worth $19,226,000 after acquiring an additional 655,401 shares during the last quarter. Samlyn Capital LLC acquired a new stake in Cheesecake Factory during the second quarter worth $10,018,000. Frontier Capital Management Co. LLC increased its stake in Cheesecake Factory by 20.7% during the second quarter. Frontier Capital Management Co. LLC now owns 2,192,835 shares of the restaurant operator’s stock worth $57,935,000 after acquiring an additional 376,046 shares during the last quarter. Finally, Cubist Systematic Strategies LLC grew its stake in shares of Cheesecake Factory by 411.7% in the second quarter. Cubist Systematic Strategies LLC now owns 378,692 shares of the restaurant operator’s stock valued at $10,005,000 after buying an additional 304,683 shares in the last quarter. Institutional investors and hedge funds own 88.67% of the company’s stock.

Cheesecake Factory Company Profile

(Get Rating)

The Cheesecake Factory Incorporated operates restaurants. It operates two bakeries that produces cheesecakes and other baked products for its restaurants, international licensees, third-party bakery customers, external foodservice operators, retailers, and distributors. As of October 27, 2022, the company owned and operated 312 restaurants in the United States and Canada under brands, including The Cheesecake Factory, North Italia, and a collection of Fox Restaurant Concepts, as well as 29 The Cheesecake Factory restaurants under licensing agreements internationally.

Further Reading

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