California State Teachers Retirement System lowered its stake in The Cheesecake Factory Incorporated (NASDAQ:CAKE – Free Report) by 2.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 58,692 shares of the restaurant operator’s stock after selling 1,564 shares during the quarter. California State Teachers Retirement System owned approximately 0.11% of Cheesecake Factory worth $2,057,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Schonfeld Strategic Advisors LLC grew its holdings in Cheesecake Factory by 0.9% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 33,188 shares of the restaurant operator’s stock worth $1,052,000 after purchasing an additional 291 shares during the period. American International Group Inc. grew its holdings in Cheesecake Factory by 1.2% during the second quarter. American International Group Inc. now owns 26,913 shares of the restaurant operator’s stock worth $711,000 after purchasing an additional 328 shares during the period. Arizona State Retirement System grew its holdings in Cheesecake Factory by 2.7% during the fourth quarter. Arizona State Retirement System now owns 13,263 shares of the restaurant operator’s stock worth $421,000 after purchasing an additional 353 shares during the period. LPL Financial LLC grew its holdings in Cheesecake Factory by 5.3% during the fourth quarter. LPL Financial LLC now owns 10,049 shares of the restaurant operator’s stock worth $319,000 after purchasing an additional 502 shares during the period. Finally, Simplicity Solutions LLC grew its holdings in Cheesecake Factory by 4.8% during the first quarter. Simplicity Solutions LLC now owns 12,103 shares of the restaurant operator’s stock worth $424,000 after purchasing an additional 558 shares during the period. Institutional investors own 93.58% of the company’s stock.
Analyst Ratings Changes
CAKE has been the subject of a number of research analyst reports. Barclays lifted their price target on Cheesecake Factory from $30.00 to $32.00 in a report on Thursday, May 11th. Wedbush boosted their price objective on Cheesecake Factory from $36.00 to $38.50 and gave the stock a “neutral” rating in a report on Thursday, August 3rd. Piper Sandler initiated coverage on Cheesecake Factory in a report on Monday, July 17th. They set a “neutral” rating and a $36.00 price objective for the company. Wells Fargo & Company initiated coverage on Cheesecake Factory in a report on Monday, June 26th. They set an “equal weight” rating and a $33.00 price objective for the company. Finally, Citigroup boosted their price objective on Cheesecake Factory from $36.00 to $37.00 and gave the stock a “neutral” rating in a report on Monday, July 24th. Four analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $36.25.
Cheesecake Factory Stock Down 1.8 %
Shares of CAKE opened at $31.61 on Monday. The Cheesecake Factory Incorporated has a one year low of $27.91 and a one year high of $41.28. The company has a market cap of $1.62 billion, a P/E ratio of 24.13, a P/E/G ratio of 2.30 and a beta of 1.45. The company has a debt-to-equity ratio of 1.44, a current ratio of 0.48 and a quick ratio of 0.38. The firm has a 50 day simple moving average of $34.86 and a two-hundred day simple moving average of $34.70.
Cheesecake Factory (NASDAQ:CAKE – Get Free Report) last announced its quarterly earnings data on Wednesday, August 2nd. The restaurant operator reported $0.88 EPS for the quarter, beating the consensus estimate of $0.81 by $0.07. Cheesecake Factory had a net margin of 1.91% and a return on equity of 32.08%. The business had revenue of $866.20 million during the quarter, compared to the consensus estimate of $880.15 million. During the same period in the previous year, the business earned $0.52 earnings per share. The company’s revenue was up 4.0% on a year-over-year basis. Research analysts forecast that The Cheesecake Factory Incorporated will post 2.75 EPS for the current fiscal year.
Cheesecake Factory Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 29th. Shareholders of record on Wednesday, August 16th will be given a dividend of $0.27 per share. The ex-dividend date of this dividend is Tuesday, August 15th. This represents a $1.08 annualized dividend and a yield of 3.42%. Cheesecake Factory’s dividend payout ratio is currently 82.44%.
About Cheesecake Factory
The Cheesecake Factory Incorporated engages in restaurant business. The company 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. It also operates restaurants in the United States and Canada under brands comprising The Cheesecake Factory, North Italia, and a collection of Fox Restaurant Concepts, as well as The Cheesecake Factory restaurants under licensing agreements internationally.
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