23,400 Shares in The Cheesecake Factory Incorporated (NASDAQ:CAKE) Purchased by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System acquired a new position in shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 23,400 shares of the restaurant operator’s stock, valued at approximately $819,000.

Other hedge funds have also recently bought and sold shares of the company. Studio Investment Management LLC bought a new position in Cheesecake Factory in the third quarter valued at approximately $25,000. DekaBank Deutsche Girozentrale bought a new position in shares of Cheesecake Factory in the 3rd quarter valued at $70,000. Hsbc Holdings PLC bought a new position in shares of Cheesecake Factory in the 3rd quarter valued at $211,000. Versor Investments LP acquired a new position in shares of Cheesecake Factory during the 3rd quarter worth $261,000. Finally, Seven Eight Capital LP bought a new stake in shares of Cheesecake Factory during the 3rd quarter worth $275,000. 94.48% of the stock is owned by institutional investors.

Cheesecake Factory Price Performance

Cheesecake Factory stock opened at $35.36 on Friday. The company has a current ratio of 0.46, a quick ratio of 0.37 and a debt-to-equity ratio of 1.48. The company has a market capitalization of $1.80 billion, a PE ratio of 17.16, a P/E/G ratio of 1.17 and a beta of 1.48. The Cheesecake Factory Incorporated has a 12 month low of $28.58 and a 12 month high of $38.19. The stock has a 50-day moving average price of $35.31 and a two-hundred day moving average price of $33.74.

Cheesecake Factory (NASDAQ:CAKE) last issued its quarterly earnings data on Wednesday, February 21st. The restaurant operator reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.73 by $0.07. Cheesecake Factory had a return on equity of 41.66% and a net margin of 2.95%. The company had revenue of $877.00 million during the quarter, compared to the consensus estimate of $876.17 million. During the same period last year, the company earned $0.56 earnings per share. The firm’s revenue was down 1.8% compared to the same quarter last year. Analysts expect that The Cheesecake Factory Incorporated will post 3.06 EPS for the current year.

Cheesecake Factory Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 19th. Stockholders of record on Wednesday, March 6th were given a dividend of $0.27 per share. The ex-dividend date of this dividend was Tuesday, March 5th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 3.05%. Cheesecake Factory’s dividend payout ratio (DPR) is 52.43%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on CAKE shares. Stephens restated an “overweight” rating and set a $44.00 price objective on shares of Cheesecake Factory in a research report on Friday, April 12th. JPMorgan Chase & Co. downgraded Cheesecake Factory from a “neutral” rating to an “underweight” rating and set a $33.00 price objective for the company. in a research report on Tuesday, January 23rd. Oppenheimer restated a “market perform” rating on shares of Cheesecake Factory in a research report on Thursday, February 22nd. Wedbush restated an “outperform” rating and set a $40.00 price objective on shares of Cheesecake Factory in a research report on Wednesday, April 10th. Finally, Piper Sandler upped their price objective on Cheesecake Factory from $33.00 to $37.00 and gave the stock a “neutral” rating in a research report on Thursday, February 22nd. Three analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $35.64.

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.