New York State Common Retirement Fund Sells 47,458 Shares of The Cheesecake Factory Incorporated $CAKE

New York State Common Retirement Fund lowered its position in The Cheesecake Factory Incorporated (NASDAQ:CAKE) by 21.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 172,876 shares of the restaurant operator’s stock after selling 47,458 shares during the period. New York State Common Retirement Fund owned 0.35% of Cheesecake Factory worth $9,446,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CAKE. Ameritas Advisory Services LLC bought a new stake in Cheesecake Factory in the second quarter worth approximately $28,000. Parkside Financial Bank & Trust boosted its holdings in Cheesecake Factory by 39.2% in the second quarter. Parkside Financial Bank & Trust now owns 632 shares of the restaurant operator’s stock worth $40,000 after purchasing an additional 178 shares in the last quarter. CWM LLC boosted its holdings in Cheesecake Factory by 36.7% in the third quarter. CWM LLC now owns 1,357 shares of the restaurant operator’s stock worth $74,000 after purchasing an additional 364 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its position in Cheesecake Factory by 32.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,333 shares of the restaurant operator’s stock worth $83,000 after buying an additional 323 shares during the last quarter. Finally, Bayforest Capital Ltd raised its holdings in Cheesecake Factory by 16.4% during the third quarter. Bayforest Capital Ltd now owns 1,568 shares of the restaurant operator’s stock valued at $86,000 after buying an additional 221 shares in the last quarter. Institutional investors own 94.48% of the company’s stock.

Cheesecake Factory Price Performance

NASDAQ:CAKE opened at $59.82 on Wednesday. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.55 and a quick ratio of 0.47. The Cheesecake Factory Incorporated has a one year low of $42.69 and a one year high of $69.70. The company has a fifty day moving average price of $53.47 and a 200 day moving average price of $55.26. The stock has a market cap of $2.98 billion, a P/E ratio of 18.13, a PEG ratio of 1.48 and a beta of 1.02.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Bank of America reduced their price target on Cheesecake Factory from $61.00 to $56.00 and set a “neutral” rating for the company in a research report on Wednesday, October 29th. Robert W. Baird set a $57.00 target price on Cheesecake Factory in a report on Wednesday, October 29th. Jefferies Financial Group set a $70.00 target price on Cheesecake Factory and gave the stock a “buy” rating in a research report on Wednesday, October 29th. Citigroup dropped their price target on shares of Cheesecake Factory from $68.00 to $65.00 and set a “buy” rating on the stock in a research report on Wednesday, October 29th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Cheesecake Factory from $57.00 to $52.00 and set an “underweight” rating for the company in a report on Thursday, October 30th. Eight analysts have rated the stock with a Buy rating, seven have given a Hold rating and four have given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $59.41.

Cheesecake Factory Profile

The Cheesecake Factory Incorporated (NASDAQ:CAKE) is an American restaurant company and distributor renowned for its full-service casual-dining concept and specialty cheesecakes. Headquartered in Calabasas Hills, California, the company operates more than 200 restaurants under The Cheesecake Factory® brand across the United States, Puerto Rico and select international markets. In addition to sit-down dining, Cheesecake Factory franchised locations offer catering and take-out services, while a separate manufacturing arm supplies branded cheesecakes and desserts to supermarkets, hotels and other foodservice operators.

The origins of the brand trace back to a small cheesecake bakery founded in Detroit in the 1940s.