Arizona State Retirement System Purchases 337 Shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE)

Arizona State Retirement System boosted its position in The Cheesecake Factory Incorporated (NASDAQ:CAKE) by 2.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 13,593 shares of the restaurant operator’s stock after purchasing an additional 337 shares during the quarter. Arizona State Retirement System’s holdings in Cheesecake Factory were worth $534,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in CAKE. Norges Bank bought a new position in Cheesecake Factory in the fourth quarter worth $11,729,000. IPG Investment Advisors LLC grew its stake in shares of Cheesecake Factory by 104.7% in the fourth quarter. IPG Investment Advisors LLC now owns 151,695 shares of the restaurant operator’s stock worth $5,311,000 after acquiring an additional 77,575 shares during the last quarter. Campbell & CO Investment Adviser LLC purchased a new stake in shares of Cheesecake Factory in the fourth quarter worth $2,532,000. Duality Advisers LP purchased a new stake in shares of Cheesecake Factory in the first quarter worth $1,829,000. Finally, New Century Financial Group LLC purchased a new stake in shares of Cheesecake Factory in the first quarter worth $1,108,000. Institutional investors own 94.48% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on CAKE shares. Wells Fargo & Company increased their target price on Cheesecake Factory from $36.00 to $38.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 1st. Barclays increased their target price on Cheesecake Factory from $32.00 to $35.00 and gave the stock an “underweight” rating in a research note on Thursday, August 1st. Stephens reissued an “overweight” rating and issued a $50.00 target price on shares of Cheesecake Factory in a research note on Thursday, August 1st. JPMorgan Chase & Co. dropped their price objective on Cheesecake Factory from $40.00 to $38.00 and set an “underweight” rating on the stock in a research report on Tuesday, August 6th. Finally, Wedbush reaffirmed an “outperform” rating and set a $45.00 price objective on shares of Cheesecake Factory in a research report on Thursday, August 1st. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $40.08.

Cheesecake Factory Stock Up 0.6 %

Shares of CAKE opened at $37.58 on Tuesday. The business’s 50 day moving average is $37.81 and its 200 day moving average is $37.19. The company has a market capitalization of $1.92 billion, a PE ratio of 17.24, a price-to-earnings-growth ratio of 1.04 and a beta of 1.50. The Cheesecake Factory Incorporated has a 12-month low of $28.58 and a 12-month high of $41.33. The company has a current ratio of 0.43, a quick ratio of 0.32 and a debt-to-equity ratio of 1.26.

Cheesecake Factory (NASDAQ:CAKE) last issued its earnings results on Wednesday, July 31st. The restaurant operator reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.09. The company had revenue of $904.04 million for the quarter, compared to the consensus estimate of $909.19 million. Cheesecake Factory had a return on equity of 43.62% and a net margin of 3.32%. The firm’s quarterly revenue was up 4.4% on a year-over-year basis. During the same quarter last year, the company earned $0.88 EPS. Research analysts expect that The Cheesecake Factory Incorporated will post 3.21 earnings per share for the current fiscal year.

Cheesecake Factory Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 27th. Shareholders of record on Wednesday, August 14th were paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 2.87%. The ex-dividend date of this dividend was Wednesday, August 14th. Cheesecake Factory’s payout ratio is 49.54%.

Cheesecake Factory Company 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.