South Dakota Investment Council Buys Shares of 24,100 The Cheesecake Factory Incorporated (NASDAQ:CAKE)

South Dakota Investment Council acquired a new stake in The Cheesecake Factory Incorporated (NASDAQ:CAKE - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 24,100 shares of the restaurant operator's stock, valued at approximately $844,000.

A number of other institutional investors have also recently bought and sold shares of the business. Louisiana State Employees Retirement System bought a new position in Cheesecake Factory in the 4th quarter valued at $819,000. Sapient Capital LLC bought a new position in Cheesecake Factory in the 4th quarter valued at $6,838,000. Mirae Asset Global Investments Co. Ltd. grew its stake in Cheesecake Factory by 2.3% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 22,140 shares of the restaurant operator's stock valued at $775,000 after purchasing an additional 498 shares during the period. New York State Teachers Retirement System grew its stake in Cheesecake Factory by 0.9% in the 4th quarter. New York State Teachers Retirement System now owns 74,707 shares of the restaurant operator's stock valued at $2,615,000 after purchasing an additional 672 shares during the period. Finally, Advisors Preferred LLC bought a new position in Cheesecake Factory in the 4th quarter valued at $2,335,000. Institutional investors own 94.48% of the company's stock.

Cheesecake Factory Price Performance

Shares of NASDAQ:CAKE traded up $0.47 on Friday, hitting $35.36. The company's stock had a trading volume of 721,128 shares, compared to its average volume of 823,972. The company has a 50-day simple moving average of $35.30 and a 200 day simple moving average of $33.70. The Cheesecake Factory Incorporated has a 1 year low of $28.58 and a 1 year high of $38.19. The company has a market capitalization of $1.80 billion, a PE ratio of 17.16, a PEG ratio of 1.17 and a beta of 1.48. The company has a debt-to-equity ratio of 1.48, a current ratio of 0.46 and a quick ratio of 0.37.

Cheesecake Factory (NASDAQ:CAKE - Get Free Report) last released its quarterly earnings results on Wednesday, February 21st. The restaurant operator reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.07. Cheesecake Factory had a return on equity of 41.66% and a net margin of 2.95%. The firm had revenue of $877.00 million for the quarter, compared to analysts' expectations of $876.17 million. During the same quarter last year, the firm posted $0.56 EPS. The company's revenue was down 1.8% compared to the same quarter last year. Sell-side analysts forecast that The Cheesecake Factory Incorporated will post 3.06 EPS for the current fiscal year.

Cheesecake Factory Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 19th. Shareholders of record on Wednesday, March 6th were issued a $0.27 dividend. The ex-dividend date was Tuesday, March 5th. This represents a $1.08 annualized dividend and a dividend yield of 3.05%. Cheesecake Factory's payout ratio is currently 52.43%.

Analyst Ratings Changes

Several research firms have recently weighed in on CAKE. Stephens reiterated an "overweight" rating and set a $44.00 price target on shares of Cheesecake Factory in a research note on Friday, April 12th. Barclays increased their price target on Cheesecake Factory from $32.00 to $33.00 and gave the stock an "underweight" rating in a research note on Thursday, February 22nd. Piper Sandler increased their price target on Cheesecake Factory from $33.00 to $37.00 and gave the stock a "neutral" rating in a research note on Thursday, February 22nd. Oppenheimer reiterated a "market perform" rating on shares of Cheesecake Factory in a research note on Thursday, February 22nd. Finally, JPMorgan Chase & Co. downgraded Cheesecake Factory from a "neutral" rating to an "underweight" rating and set a $33.00 price target for the company. in a research note on Tuesday, January 23rd. Three analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, Cheesecake Factory has a consensus rating of "Hold" and a consensus price target of $35.64.

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.