Texas Permanent School Fund Corp Has $1.37 Million Position in The Cheesecake Factory Incorporated (NASDAQ:CAKE)

Texas Permanent School Fund Corp lessened its stake in shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE) by 14.5% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 34,962 shares of the restaurant operator’s stock after selling 5,919 shares during the quarter. Texas Permanent School Fund Corp owned about 0.07% of Cheesecake Factory worth $1,374,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of CAKE. Charles Schwab Investment Management Inc. increased its position in Cheesecake Factory by 2.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 559,492 shares of the restaurant operator’s stock worth $19,588,000 after acquiring an additional 13,352 shares during the period. Quadrant Capital Group LLC lifted its position in shares of Cheesecake Factory by 48.4% in the 4th quarter. Quadrant Capital Group LLC now owns 1,566 shares of the restaurant operator’s stock worth $55,000 after purchasing an additional 511 shares during the period. Norges Bank acquired a new position in shares of Cheesecake Factory during the 4th quarter valued at $11,729,000. Quest Partners LLC acquired a new position in shares of Cheesecake Factory during the 4th quarter valued at $418,000. Finally, 1492 Capital Management LLC increased its stake in Cheesecake Factory by 0.9% during the 4th quarter. 1492 Capital Management LLC now owns 32,015 shares of the restaurant operator’s stock valued at $1,121,000 after purchasing an additional 293 shares in the last quarter. Institutional investors and hedge funds own 94.48% of the company’s stock.

Analyst Ratings Changes

CAKE has been the subject of several recent analyst reports. Wells Fargo & Company upped their target price on shares of Cheesecake Factory from $36.00 to $38.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 1st. Stephens restated an “overweight” rating and issued a $50.00 price objective on shares of Cheesecake Factory in a research report on Thursday, August 1st. Wedbush reiterated an “outperform” rating and set a $45.00 price target on shares of Cheesecake Factory in a research report on Thursday, August 1st. Barclays raised their target price on shares of Cheesecake Factory from $32.00 to $35.00 and gave the stock an “underweight” rating in a report on Thursday, August 1st. Finally, Robert W. Baird raised their price target on Cheesecake Factory from $37.00 to $40.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $40.08.

Cheesecake Factory Price Performance

CAKE opened at $39.21 on Friday. The Cheesecake Factory Incorporated has a 1 year low of $28.58 and a 1 year high of $41.33. The stock has a 50-day moving average price of $37.85 and a 200-day moving average price of $37.22. The firm has a market cap of $2.00 billion, a PE ratio of 17.99, a P/E/G ratio of 1.04 and a beta of 1.50. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.43 and a quick ratio of 0.32.

Cheesecake Factory (NASDAQ:CAKE) last released its quarterly earnings results on Wednesday, July 31st. The restaurant operator reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.09. Cheesecake Factory had a return on equity of 43.62% and a net margin of 3.32%. The business had revenue of $904.04 million during the quarter, compared to the consensus estimate of $909.19 million. During the same period in the previous year, the company posted $0.88 EPS. The business’s quarterly revenue was up 4.4% compared to the same quarter last year. Sell-side analysts predict that The Cheesecake Factory Incorporated will post 3.21 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 27th. Investors of record on Wednesday, August 14th were issued a $0.27 dividend. The ex-dividend date was Wednesday, August 14th. This represents a $1.08 dividend on an annualized basis and a yield of 2.75%. Cheesecake Factory’s dividend payout ratio is presently 49.54%.

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.