New York State Common Retirement Fund Has $10.69 Million Stock Position in The Cheesecake Factory Incorporated (NASDAQ:CAKE)

New York State Common Retirement Fund grew its holdings in shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE - Free Report) by 9.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 219,581 shares of the restaurant operator's stock after buying an additional 19,359 shares during the quarter. New York State Common Retirement Fund owned 0.44% of Cheesecake Factory worth $10,685,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. USA Financial Formulas acquired a new stake in Cheesecake Factory in the first quarter valued at $49,000. Golden State Wealth Management LLC increased its holdings in shares of Cheesecake Factory by 100.0% in the 1st 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. FORA Capital LLC acquired a new stake in shares of Cheesecake Factory in the 4th quarter worth about $203,000. Mariner LLC bought a new position in Cheesecake Factory in the 4th quarter valued at about $213,000. Finally, Cibc World Markets Corp bought a new position in Cheesecake Factory in the 4th quarter valued at about $214,000. 94.48% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Cheesecake Factory

In other Cheesecake Factory news, CFO Matthew Eliot Clark sold 42,900 shares of the business's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $56.00, for a total value of $2,402,400.00. Following the sale, the chief financial officer owned 40,878 shares in the company, valued at approximately $2,289,168. The trade was a 51.21% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Scarlett May sold 20,800 shares of the company's stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $56.02, for a total value of $1,165,216.00. Following the sale, the executive vice president owned 22,872 shares in the company, valued at approximately $1,281,289.44. This represents a 47.63% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 133,000 shares of company stock worth $7,456,992. 8.40% of the stock is owned by company insiders.

Cheesecake Factory Price Performance

Shares of NASDAQ CAKE traded up $0.77 during midday trading on Friday, reaching $62.68. 1,408,480 shares of the company traded hands, compared to its average volume of 1,257,505. The firm has a market cap of $3.10 billion, a PE ratio of 19.65, a PEG ratio of 1.59 and a beta of 1.16. The stock's 50-day simple moving average is $58.78 and its 200-day simple moving average is $53.23. The Cheesecake Factory Incorporated has a 12 month low of $33.50 and a 12 month high of $65.99. The company has a debt-to-equity ratio of 1.85, a quick ratio of 0.43 and a current ratio of 0.53.

Cheesecake Factory (NASDAQ:CAKE - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The restaurant operator reported $0.93 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.12. The firm had revenue of $927.20 million during the quarter, compared to analysts' expectations of $927.17 million. Cheesecake Factory had a return on equity of 46.06% and a net margin of 4.33%. The company's quarterly revenue was up 4.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.73 EPS. As a group, equities analysts anticipate that The Cheesecake Factory Incorporated will post 3.71 earnings per share for the current fiscal year.

Cheesecake Factory Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 27th. Investors of record on Wednesday, May 14th were given a $0.27 dividend. The ex-dividend date of this dividend was Wednesday, May 14th. This represents a $1.08 annualized dividend and a dividend yield of 1.72%. Cheesecake Factory's dividend payout ratio is presently 33.86%.

Analyst Ratings Changes

Several brokerages have commented on CAKE. Barclays raised their target price on shares of Cheesecake Factory from $45.00 to $57.00 and gave the stock an "underweight" rating in a report on Thursday. Stephens reiterated an "overweight" rating and issued a $60.00 target price on shares of Cheesecake Factory in a report on Thursday, May 1st. Citigroup decreased their target price on shares of Cheesecake Factory from $67.00 to $62.00 and set a "buy" rating for the company in a report on Tuesday, April 15th. Robert W. Baird increased their price target on shares of Cheesecake Factory from $46.00 to $49.00 and gave the stock a "neutral" rating in a research report on Thursday, May 1st. Finally, The Goldman Sachs Group reissued a "neutral" rating and issued a $67.00 price target (up from $66.00) on shares of Cheesecake Factory in a research report on Thursday, July 10th. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $59.38.

About Cheesecake Factory

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.