California State Teachers Retirement System Increases Position in The Cheesecake Factory Incorporated $CAKE

Key Points

• California State Teachers Retirement System increased its Cheesecake Factory stake by 24.9% in the first quarter, bringing its holdings to 55,576 shares valued at approximately $3.04 million. Institutional investors collectively own 94.48% of the company.
• Cheesecake Factory reported quarterly earnings of $1.44 per share, beating estimates of $1.18, while revenue rose 7.7% year over year to $1.03 billion. The company also declared a quarterly dividend of $0.30 per share, equivalent to a 1.1% annual yield.
• CAKE shares opened at $107.05, near their 52-week high, while analysts maintained a consensus “Hold” rating with an average price target of $81.00. Several insiders have recently sold shares, including an executive vice president’s $819,000 transaction.

California State Teachers Retirement System lifted its holdings in shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE - Free Report) by 24.9% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 55,576 shares of the restaurant operator's stock after buying an additional 11,088 shares during the period. California State Teachers Retirement System owned approximately 0.11% of Cheesecake Factory worth $3,043,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Salomon & Ludwin LLC increased its position in Cheesecake Factory by 226.5% in the 4th quarter. Salomon & Ludwin LLC now owns 604 shares of the restaurant operator's stock valued at $33,000 after acquiring an additional 419 shares during the period. NFSG Corp raised its stake in Cheesecake Factory by 115.8% during the 1st quarter. NFSG Corp now owns 682 shares of the restaurant operator's stock valued at $37,000 after acquiring an additional 366 shares during the last quarter. Global Retirement Partners LLC lifted its position in Cheesecake Factory by 661.7% during the 4th quarter. Global Retirement Partners LLC now owns 716 shares of the restaurant operator's stock worth $36,000 after acquiring an additional 622 shares during the period. Root Financial Partners LLC lifted its position in Cheesecake Factory by 973.2% during the 4th quarter. Root Financial Partners LLC now owns 880 shares of the restaurant operator's stock worth $44,000 after acquiring an additional 798 shares during the period. Finally, Arax Advisory Partners purchased a new position in shares of Cheesecake Factory in the 4th quarter valued at approximately $50,000. Hedge funds and other institutional investors own 94.48% of the company's stock.

Cheesecake Factory Price Performance

Shares of NASDAQ:CAKE opened at $107.05 on Monday. The Cheesecake Factory Incorporated has a 52 week low of $43.07 and a 52 week high of $107.95. The company has a 50-day moving average price of $81.78 and a 200 day moving average price of $67.83. The company has a market cap of $5.33 billion, a P/E ratio of 29.01, a PEG ratio of 1.94 and a beta of 1.00. The company has a quick ratio of 0.52, a current ratio of 0.59 and a debt-to-equity ratio of 1.08.

Cheesecake Factory (NASDAQ:CAKE - Get Free Report) last released its earnings results on Tuesday, July 28th. The restaurant operator reported $1.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.18 by $0.26. The company had revenue of $1.03 billion for the quarter, compared to analysts' expectations of $999.54 million. Cheesecake Factory had a return on equity of 43.97% and a net margin of 4.61%.The firm's quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.16 EPS. Research analysts predict that The Cheesecake Factory Incorporated will post 4.43 earnings per share for the current year.

Cheesecake Factory Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 25th. Investors of record on Tuesday, August 11th will be paid a $0.30 dividend. The ex-dividend date is Tuesday, August 11th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.1%. Cheesecake Factory's payout ratio is 32.52%.

Insider Activity

In other Cheesecake Factory news, Director Alexander L. Cappello sold 2,490 shares of the firm's stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $64.90, for a total value of $161,601.00. Following the completion of the sale, the director owned 6,171 shares of the company's stock, valued at approximately $400,497.90. This trade represents a 28.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Scarlett May sold 7,978 shares of the firm's stock in a transaction on Friday, July 31st. The shares were sold at an average price of $102.66, for a total value of $819,021.48. Following the completion of the sale, the executive vice president directly owned 18,241 shares of the company's stock, valued at approximately $1,872,621.06. This trade represents a 30.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 179,331 shares of company stock valued at $18,413,065 over the last three months. 8.00% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

CAKE has been the topic of a number of recent research reports. Bank of America boosted their target price on Cheesecake Factory from $66.00 to $79.00 and gave the company a "neutral" rating in a report on Thursday, July 2nd. Robert W. Baird increased their price target on Cheesecake Factory from $65.00 to $90.00 and gave the stock a "neutral" rating in a report on Wednesday, July 29th. Argus increased their price target on Cheesecake Factory from $72.00 to $110.00 and gave the stock a "buy" rating in a report on Thursday, July 30th. Wells Fargo & Company lifted their price objective on shares of Cheesecake Factory from $65.00 to $75.00 and gave the company an "equal weight" rating in a research report on Thursday, July 16th. Finally, Weiss Ratings cut shares of Cheesecake Factory from a "buy (b)" rating to a "buy (b-)" rating in a research note on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Cheesecake Factory currently has a consensus rating of "Hold" and an average target price of $81.00.

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.

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