Public Employees Retirement System of Ohio Lowers Position in The Cheesecake Factory Incorporated $CAKE

Public Employees Retirement System of Ohio reduced its stake in The Cheesecake Factory Incorporated (NASDAQ:CAKE - Free Report) by 16.9% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 31,845 shares of the restaurant operator's stock after selling 6,491 shares during the quarter. Public Employees Retirement System of Ohio owned approximately 0.06% of Cheesecake Factory worth $1,995,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of CAKE. Principal Financial Group Inc. increased its position in shares of Cheesecake Factory by 2.2% during the 1st quarter. Principal Financial Group Inc. now owns 274,877 shares of the restaurant operator's stock valued at $13,376,000 after purchasing an additional 6,047 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in shares of Cheesecake Factory during the 1st quarter valued at $5,559,000. Foundry Partners LLC purchased a new stake in shares of Cheesecake Factory during the 1st quarter valued at $299,000. Informed Momentum Co LLC purchased a new stake in shares of Cheesecake Factory during the 1st quarter valued at $3,023,000. Finally, Maverick Capital Ltd. increased its position in shares of Cheesecake Factory by 217.4% during the 1st quarter. Maverick Capital Ltd. now owns 27,894 shares of the restaurant operator's stock valued at $1,357,000 after purchasing an additional 19,105 shares during the last quarter. 94.48% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CAKE has been the subject of several research analyst reports. Robert W. Baird set a $64.00 target price on Cheesecake Factory and gave the company a "neutral" rating in a research report on Wednesday, July 30th. Piper Sandler raised their target price on Cheesecake Factory from $54.00 to $62.00 and gave the company a "neutral" rating in a research report on Monday, August 4th. Raymond James Financial raised their target price on Cheesecake Factory from $70.00 to $73.00 and gave the company an "outperform" rating in a research report on Friday, August 15th. The Goldman Sachs Group reissued a "neutral" rating and issued a $67.00 price objective (up previously from $66.00) on shares of Cheesecake Factory in a report on Thursday, July 10th. Finally, Barclays lifted their price objective on Cheesecake Factory from $57.00 to $62.00 and gave the stock an "underweight" rating in a report on Wednesday, July 30th. Seven equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $61.94.

Cheesecake Factory Stock Up 0.9%

Shares of NASDAQ CAKE opened at $55.17 on Friday. The Cheesecake Factory Incorporated has a 52 week low of $38.40 and a 52 week high of $69.70. The business has a 50-day simple moving average of $59.96 and a two-hundred day simple moving average of $56.53. The company has a quick ratio of 0.42, a current ratio of 0.51 and a debt-to-equity ratio of 1.40. The company has a market cap of $2.75 billion, a P/E ratio of 16.98, a P/E/G ratio of 1.30 and a beta of 1.06.

Cheesecake Factory (NASDAQ:CAKE - Get Free Report) last issued its earnings results on Tuesday, July 29th. The restaurant operator reported $1.16 EPS for the quarter, topping the consensus estimate of $1.06 by $0.10. Cheesecake Factory had a return on equity of 45.92% and a net margin of 4.33%.The business had revenue of $955.83 million during the quarter, compared to the consensus estimate of $945.82 million. During the same quarter last year, the company earned $1.09 EPS. The firm's revenue was up 5.7% compared to the same quarter last year. Research 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 declared a quarterly dividend, which was paid on Tuesday, August 26th. Stockholders 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 2.0%. The ex-dividend date was Tuesday, August 12th. Cheesecake Factory's dividend payout ratio (DPR) is 33.23%.

Insider Transactions at Cheesecake Factory

In other news, President David M. Gordon sold 43,335 shares of Cheesecake Factory stock in a transaction dated 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 completion of the sale, the president owned 24,532 shares in the company, valued at approximately $1,546,987.92. This trade represents a 63.85% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Alexander L. Cappello sold 12,388 shares of Cheesecake Factory stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $65.88, for a total value of $816,121.44. Following the sale, the director owned 6,806 shares of the company's stock, valued at approximately $448,379.28. This trade represents a 64.54% decrease in their position. The disclosure for this sale can be found here. Company insiders own 8.40% of the company's stock.

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.

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