State of Alaska Department of Revenue Acquires 1,097 Shares of The Cheesecake Factory Incorporated $CAKE

State of Alaska Department of Revenue raised its position in The Cheesecake Factory Incorporated (NASDAQ:CAKE) by 4.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 27,116 shares of the restaurant operator’s stock after acquiring an additional 1,097 shares during the quarter. State of Alaska Department of Revenue owned approximately 0.05% of Cheesecake Factory worth $1,698,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in CAKE. USA Financial Formulas acquired a new stake in Cheesecake Factory in the first quarter valued at $49,000. Golden State Wealth Management LLC lifted its stake in Cheesecake Factory by 100.0% in the first quarter. Golden State Wealth Management LLC now owns 1,060 shares of the restaurant operator’s stock valued at $52,000 after acquiring an additional 530 shares during the last quarter. SBI Securities Co. Ltd. lifted its stake in Cheesecake Factory by 38.5% in the first quarter. SBI Securities Co. Ltd. now owns 1,244 shares of the restaurant operator’s stock valued at $61,000 after acquiring an additional 346 shares during the last quarter. Bayforest Capital Ltd acquired a new stake in Cheesecake Factory in the first quarter valued at $72,000. Finally, Smartleaf Asset Management LLC lifted its stake in Cheesecake Factory by 24.4% in the first quarter. Smartleaf Asset Management LLC now owns 3,268 shares of the restaurant operator’s stock valued at $162,000 after acquiring an additional 640 shares during the last quarter. Institutional investors and hedge funds own 94.48% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on CAKE shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Cheesecake Factory in a research note on Saturday, September 27th. Wells Fargo & Company raised their target price on shares of Cheesecake Factory from $60.00 to $65.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 30th. Raymond James Financial raised their target price on shares of Cheesecake Factory from $70.00 to $73.00 and gave the stock an “outperform” rating in a research note on Friday, August 15th. UBS Group raised their target price on shares of Cheesecake Factory from $45.00 to $50.00 and gave the stock a “sell” rating in a research note on Friday, July 18th. Finally, Oppenheimer raised their target price on shares of Cheesecake Factory from $65.00 to $75.00 and gave the stock an “outperform” rating in a research note on Friday, July 11th. Eight equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $61.94.

Cheesecake Factory Stock Up 0.6%

NASDAQ:CAKE opened at $55.50 on Friday. The company has a market cap of $2.76 billion, a PE ratio of 17.08, a P/E/G ratio of 1.31 and a beta of 1.06. The Cheesecake Factory Incorporated has a one year low of $38.40 and a one year high of $69.70. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.51 and a quick ratio of 0.42. The firm’s 50 day simple moving average is $59.75 and its 200 day simple moving average is $56.59.

Cheesecake Factory (NASDAQ:CAKE) last issued its quarterly earnings results on Tuesday, July 29th. The restaurant operator reported $1.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.10. Cheesecake Factory had a net margin of 4.33% and a return on equity of 45.92%. The firm had revenue of $955.83 million for the quarter, compared to the consensus estimate of $945.82 million. During the same quarter in the previous year, the company earned $1.09 EPS. The company’s revenue for the quarter was up 5.7% on a year-over-year basis. On average, research analysts anticipate that The Cheesecake Factory Incorporated will post 3.71 earnings per share for the current year.

Cheesecake Factory Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 26th. Investors of record on Tuesday, August 12th were given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date was Tuesday, August 12th. Cheesecake Factory’s payout ratio is presently 33.23%.

Insiders Place Their Bets

In related news, President David M. Gordon sold 43,335 shares of the business’s stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $63.06, for a total transaction of $2,732,705.10. Following the transaction, the president owned 24,532 shares in the company, valued at $1,546,987.92. The trade was a 63.85% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Alexander L. Cappello sold 12,388 shares of the business’s stock in a transaction on Thursday, July 31st. The shares were sold at an average price of $65.88, for a total transaction of $816,121.44. Following the transaction, the director owned 6,806 shares in the company, valued at $448,379.28. The trade was a 64.54% decrease in their position. The disclosure for this sale can be found here. 8.40% of the stock is owned by insiders.

Cheesecake Factory 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.