Mutual of America Capital Management LLC Lowers Position in The Cheesecake Factory Incorporated $CAKE

Mutual of America Capital Management LLC cut its position in shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE) by 14.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,853 shares of the restaurant operator’s stock after selling 985 shares during the period. Mutual of America Capital Management LLC’s holdings in Cheesecake Factory were worth $367,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Ameritas Advisory Services LLC purchased a new position in shares of Cheesecake Factory during the 2nd quarter valued at approximately $28,000. Golden State Wealth Management LLC raised its position in Cheesecake Factory by 100.0% during the first quarter. Golden State Wealth Management LLC now owns 1,060 shares of the restaurant operator’s stock worth $52,000 after acquiring an additional 530 shares during the period. SBI Securities Co. Ltd. lifted its holdings in Cheesecake Factory by 38.5% during the first quarter. SBI Securities Co. Ltd. now owns 1,244 shares of the restaurant operator’s stock valued at $61,000 after purchasing an additional 346 shares in the last quarter. Bayforest Capital Ltd purchased a new position in Cheesecake Factory during the first quarter valued at $72,000. Finally, Smartleaf Asset Management LLC grew its position in shares of 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 purchasing an additional 640 shares during the period. Institutional investors and hedge funds own 94.48% of the company’s stock.

Cheesecake Factory Trading Down 2.8%

Shares of CAKE stock opened at $54.33 on Wednesday. The Cheesecake Factory Incorporated has a 1-year low of $42.69 and a 1-year high of $69.70. The firm has a market cap of $2.71 billion, a PE ratio of 16.72, a price-to-earnings-growth ratio of 1.34 and a beta of 1.06. The company has a 50-day moving average of $56.89 and a two-hundred day moving average of $57.46. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.51 and a quick ratio of 0.42.

Cheesecake Factory (NASDAQ:CAKE) last released its quarterly earnings results on Tuesday, October 28th. The restaurant operator reported $0.68 EPS for the quarter, topping the consensus estimate of $0.60 by $0.08. The business had revenue of $907.23 million during the quarter, compared to analyst estimates of $912.95 million. Cheesecake Factory had a return on equity of 45.92% and a net margin of 4.33%.The company’s quarterly revenue was up 4.8% on a year-over-year basis. During the same period last year, the business posted $0.58 earnings per share. On average, analysts predict that The Cheesecake Factory Incorporated will post 3.71 EPS for the current year.

Insider Transactions at Cheesecake Factory

In other news, Director Alexander L. Cappello sold 12,388 shares of the stock in a transaction dated Thursday, July 31st. The stock was sold at an average price of $65.88, for a total value of $816,121.44. Following the transaction, the director owned 6,806 shares in the company, valued at approximately $448,379.28. This represents a 64.54% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, President David M. Gordon sold 43,335 shares of the firm’s stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $63.06, for a total transaction of $2,732,705.10. Following the sale, the president directly owned 24,532 shares in the company, valued at approximately $1,546,987.92. The trade was a 63.85% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 8.10% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on CAKE shares. UBS Group lifted their price objective on Cheesecake Factory from $45.00 to $50.00 and gave the stock a “sell” rating in a report on Friday, July 18th. Barclays lowered their price target on Cheesecake Factory from $62.00 to $50.00 and set an “underweight” rating on the stock in a research note on Wednesday, October 22nd. Citigroup dropped their price target on Cheesecake Factory from $75.00 to $68.00 and set a “buy” rating for the company in a research report on Tuesday, October 14th. Robert W. Baird set a $64.00 price objective on Cheesecake Factory and gave the company a “neutral” rating in a research note on Wednesday, July 30th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Cheesecake Factory in a research note on Wednesday, October 8th. Nine analysts have rated the stock with a Buy rating, five have given a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat.com, Cheesecake Factory has an average rating of “Hold” and an average price target of $62.35.

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.