Public Sector Pension Investment Board Acquires 31,715 Shares of The Cheesecake Factory Incorporated $CAKE

Key Points

• The Public Sector Pension Investment Board increased its stake in The Cheesecake Factory by 27%, bringing its total holdings to $7.25 million.
• Analysts have varied outlooks on the company's stock, with price targets ranging from $45.00 to $67.00, and a consensus rating of "Hold."
• Cheesecake Factory recently announced a quarterly dividend of $0.27 per share, representing an annualized yield of 1.7%.

Public Sector Pension Investment Board raised its position in The Cheesecake Factory Incorporated (NASDAQ:CAKE - Free Report) by 27.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 148,961 shares of the restaurant operator's stock after purchasing an additional 31,715 shares during the quarter. Public Sector Pension Investment Board owned approximately 0.30% of Cheesecake Factory worth $7,248,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CAKE. USA Financial Formulas acquired a new position in Cheesecake Factory in the first quarter worth approximately $49,000. Golden State Wealth Management LLC increased its stake in shares of Cheesecake Factory by 100.0% during the 1st quarter. Golden State Wealth Management LLC now owns 1,060 shares of the restaurant operator's stock worth $52,000 after purchasing an additional 530 shares during the last quarter. SBI Securities Co. Ltd. raised its holdings in shares of Cheesecake Factory by 38.5% during the 1st 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 acquired a new stake in shares of Cheesecake Factory in the 1st quarter valued at $72,000. Finally, FORA Capital LLC bought a new stake in Cheesecake Factory in the fourth quarter worth $203,000. 94.48% of the stock is owned by hedge funds and other institutional investors.

Cheesecake Factory Trading Up 0.6%

Shares of CAKE traded up $0.3560 on Tuesday, reaching $62.2960. 204,061 shares of the company's stock were exchanged, compared to its average volume of 1,465,083. The business has a 50 day moving average price of $62.47 and a two-hundred day moving average price of $55.15. The Cheesecake Factory Incorporated has a 12 month low of $35.40 and a 12 month high of $69.70. The stock has a market capitalization of $3.10 billion, a P/E ratio of 19.18, a price-to-earnings-growth ratio of 1.50 and a beta of 1.17. The company has a current ratio of 0.51, a quick ratio of 0.42 and a debt-to-equity ratio of 1.40.

Cheesecake Factory (NASDAQ:CAKE - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The restaurant operator reported $1.16 EPS for the quarter, topping analysts' consensus estimates 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 analysts' expectations of $945.82 million. During the same period in the previous year, the firm earned $1.09 earnings per share. The firm's quarterly 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 year.

Cheesecake Factory Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 26th. Investors of record on Tuesday, August 12th will be given a $0.27 dividend. The ex-dividend date is Tuesday, August 12th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.7%. Cheesecake Factory's dividend payout ratio is currently 33.23%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on CAKE shares. UBS Group upped their target price on Cheesecake Factory from $45.00 to $50.00 and gave the stock a "sell" rating in a research report on Friday, July 18th. Bank of America upped their price objective on shares of Cheesecake Factory from $61.00 to $67.00 and gave the stock a "neutral" rating in a report on Friday, July 18th. Argus set a $60.00 target price on shares of Cheesecake Factory in a report on Wednesday, May 14th. Piper Sandler raised their price target on Cheesecake Factory from $54.00 to $62.00 and gave the company a "neutral" rating in a research report on Monday, August 4th. Finally, Stephens reaffirmed an "overweight" rating and issued a $60.00 price target on shares of Cheesecake Factory in a research report on Thursday, May 1st. Seven analysts have rated the stock with a Buy rating, five have assigned a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat.com, Cheesecake Factory currently has a consensus rating of "Hold" and an average target price of $61.94.

Insider Buying and Selling

In related news, EVP Scarlett May sold 18,800 shares of the stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $58.82, for a total transaction of $1,105,816.00. Following the completion of the sale, the executive vice president directly owned 22,872 shares of the company's stock, valued at approximately $1,345,331.04. This represents a 45.11% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, President David M. Gordon sold 43,335 shares of the stock in a transaction 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 of the company's stock, valued at $1,546,987.92. This represents a 63.85% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 188,723 shares of company stock valued at $11,005,819. 8.10% of the stock is owned by company insiders.

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.