Mutual of America Capital Management LLC Has $285,000 Stock Position in The Cheesecake Factory Incorporated (NASDAQ:CAKE)

Mutual of America Capital Management LLC decreased its stake in The Cheesecake Factory Incorporated (NASDAQ:CAKE) by 8.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,040 shares of the restaurant operator’s stock after selling 666 shares during the period. Mutual of America Capital Management LLC’s holdings in Cheesecake Factory were worth $285,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in CAKE. GAMMA Investing LLC lifted its holdings in shares of Cheesecake Factory by 276.4% during the 2nd quarter. GAMMA Investing LLC now owns 1,449 shares of the restaurant operator’s stock worth $57,000 after acquiring an additional 1,064 shares during the period. nVerses Capital LLC bought a new stake in Cheesecake Factory during the second quarter worth about $67,000. Wealth Alliance bought a new position in Cheesecake Factory in the 2nd quarter valued at $213,000. Foundations Investment Advisors LLC bought a new position in shares of Cheesecake Factory in the third quarter worth about $227,000. Finally, Commonwealth Equity Services LLC grew its stake in shares of Cheesecake Factory by 13.4% during the second quarter. Commonwealth Equity Services LLC now owns 6,771 shares of the restaurant operator’s stock valued at $266,000 after purchasing an additional 802 shares during the last quarter. Institutional investors own 94.48% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on CAKE. Barclays raised their price objective on shares of Cheesecake Factory from $38.00 to $44.00 and gave the company an “underweight” rating in a research note on Wednesday, October 30th. Robert W. Baird raised their price objective on shares of Cheesecake Factory from $40.00 to $47.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Stephens raised their price objective on shares of Cheesecake Factory from $50.00 to $51.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Wedbush raised their target price on shares of Cheesecake Factory from $52.00 to $59.00 and gave the company an “outperform” rating in a research report on Thursday, November 14th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Cheesecake Factory from $40.00 to $38.00 and set an “underweight” rating for the company in a research report on Tuesday, August 6th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $44.75.

Insider Activity at Cheesecake Factory

In other news, insider Keith Carango sold 13,095 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $49.88, for a total value of $653,178.60. Following the transaction, the insider now owns 14,977 shares in the company, valued at approximately $747,052.76. This trade represents a 46.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 8.10% of the stock is currently owned by insiders.

Cheesecake Factory Price Performance

CAKE stock opened at $49.74 on Friday. The company has a 50 day simple moving average of $43.59 and a 200 day simple moving average of $40.15. The stock has a market cap of $2.54 billion, a price-to-earnings ratio of 18.91, a P/E/G ratio of 1.34 and a beta of 1.47. The Cheesecake Factory Incorporated has a 1 year low of $30.96 and a 1 year high of $50.75. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.44 and a quick ratio of 0.33.

Cheesecake Factory (NASDAQ:CAKE) last released its quarterly earnings data on Tuesday, October 29th. The restaurant operator reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.11. The firm had revenue of $865.50 million for the quarter, compared to the consensus estimate of $866.13 million. Cheesecake Factory had a net margin of 3.63% and a return on equity of 43.90%. The business’s revenue was up 4.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.39 earnings per share. Research analysts anticipate that The Cheesecake Factory Incorporated will post 3.3 EPS for the current fiscal year.

Cheesecake Factory Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 26th. Stockholders of record on Wednesday, November 13th were given a $0.27 dividend. The ex-dividend date of this dividend was Wednesday, November 13th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.17%. Cheesecake Factory’s dividend payout ratio (DPR) is currently 41.06%.

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.