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Top Buys by Directors: Simon's $1.1M Bet on CAKE

By Dividend Channel Staff, Wednesday, December 6, 1:28 PM ET
Play Video: One Reason For Insiders to Buy


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The directors of a company tend to have a unique inside view into the business, so when directors make major buys, investors are wise to take notice. Presumably the only reason a director of a company would choose to take their hard-earned cash and use it to buy stock in the open market, is that they expect to make money maybe they find the stock very undervalued, or maybe they see exciting progress within the company, or maybe both. So in this series we look at the largest insider buys by company directors over the trailing six month period, one of which was a total of $1.1M by Herbert Simon, Director at Cheesecake Factory Inc. (NASDAQ:CAKE).

Simon bets big on CAKE:

Purchased Insider Title Shares Price/Share Value
11/06/2017 Herbert Simon Director 25,000 $43.50 $1,087,467.39

Simon's average cost works out to $43.50/share. Shares of Cheesecake Factory Inc. were changing hands at $48.59 at last check, trading off about 2% on Wednesday. The chart below shows the one year performance of CAKE shares, versus its 200 day moving average:

Cheesecake Factory Inc.  Chart

Looking at the chart above, CAKE's low point in its 52 week range is $38.34 per share, with $67.14 as the 52 week high point that compares with a last trade of $48.59.

The current annualized dividend paid by Cheesecake Factory Inc. is $1.16/share, currently paid in quarterly installments, and its most recent dividend ex-date was on 11/14/2017. Below is a long-term dividend history chart for CAKE, which can be of good help in judging whether the most recent dividend with approx. 2.3% annualized yield is likely to continue.

CAKE makes up 1.07% of the First Trust SMID Cap Rising Dividend Achievers ETF (NASDAQ:SDVY)


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