State Street Corp Buys 67,550 Shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE)

State Street Corp increased its stake in shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE) by 3.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,876,295 shares of the restaurant operator’s stock after buying an additional 67,550 shares during the quarter. State Street Corp’s holdings in Cheesecake Factory were worth $76,084,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Louisiana State Employees Retirement System grew its holdings in shares of Cheesecake Factory by 2.2% during the 2nd quarter. Louisiana State Employees Retirement System now owns 23,600 shares of the restaurant operator’s stock worth $927,000 after purchasing an additional 500 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Cheesecake Factory by 7.4% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,341 shares of the restaurant operator’s stock worth $406,000 after purchasing an additional 715 shares during the period. Commonwealth Equity Services LLC grew its stake in Cheesecake Factory by 13.4% during the second quarter. Commonwealth Equity Services LLC now owns 6,771 shares of the restaurant operator’s stock worth $266,000 after buying an additional 802 shares in the last quarter. nVerses Capital LLC bought a new position in Cheesecake Factory in the 2nd quarter valued at about $67,000. Finally, Natixis Advisors LLC raised its position in shares of Cheesecake Factory by 0.7% in the 2nd quarter. Natixis Advisors LLC now owns 530,497 shares of the restaurant operator’s stock valued at $20,843,000 after buying an additional 3,872 shares in the last quarter. Institutional investors own 94.48% of the company’s stock.

Cheesecake Factory Trading Down 1.9 %

CAKE opened at $50.39 on Wednesday. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.44 and a quick ratio of 0.33. The Cheesecake Factory Incorporated has a fifty-two week low of $31.24 and a fifty-two week high of $52.10. The company’s 50 day moving average price is $46.34 and its two-hundred day moving average price is $41.32. The firm has a market capitalization of $2.57 billion, a price-to-earnings ratio of 19.16, a PEG ratio of 1.37 and a beta of 1.48.

Cheesecake Factory (NASDAQ:CAKE) last issued 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 company had revenue of $865.50 million for the quarter, compared to analysts’ expectations of $866.13 million. Cheesecake Factory had a net margin of 3.63% and a return on equity of 43.90%. Cheesecake Factory’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.39 earnings per share. As a group, research analysts predict that The Cheesecake Factory Incorporated will post 3.31 earnings per share for the current year.

Cheesecake Factory Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 26th. Investors of record on Wednesday, November 13th were paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.14%. The ex-dividend date of this dividend was Wednesday, November 13th. Cheesecake Factory’s dividend payout ratio is currently 41.06%.

Analyst Ratings Changes

Several research firms recently issued reports on CAKE. Barclays increased their price target on shares of Cheesecake Factory from $38.00 to $44.00 and gave the stock an “underweight” rating in a research report on Wednesday, October 30th. Bank of America raised their target price on Cheesecake Factory from $47.00 to $49.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Wells Fargo & Company boosted their price target on Cheesecake Factory from $38.00 to $45.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. StockNews.com lowered Cheesecake Factory from a “buy” rating to a “hold” rating in a research note on Thursday, November 28th. Finally, The Goldman Sachs Group assumed coverage on Cheesecake Factory in a research note on Thursday, December 5th. They set a “buy” rating and a $56.00 target price for the company. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Cheesecake Factory currently has an average rating of “Hold” and a consensus target price of $47.93.

Insider Activity at Cheesecake Factory

In other Cheesecake Factory 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 transaction of $653,178.60. Following the completion of 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 8.10% of the stock is currently 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.