Louisiana State Employees Retirement System Sells 1,000 Shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE)

Louisiana State Employees Retirement System cut its position in The Cheesecake Factory Incorporated (NASDAQ:CAKE) by 4.2% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 22,600 shares of the restaurant operator’s stock after selling 1,000 shares during the period. Louisiana State Employees Retirement System’s holdings in Cheesecake Factory were worth $916,000 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. Allspring Global Investments Holdings LLC raised its position in Cheesecake Factory by 2,360.7% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 689 shares of the restaurant operator’s stock valued at $25,000 after buying an additional 661 shares during the last quarter. Texas Permanent School Fund Corp grew its holdings in Cheesecake Factory by 1.4% during the first quarter. Texas Permanent School Fund Corp now owns 40,881 shares of the restaurant operator’s stock worth $1,478,000 after purchasing an additional 547 shares during the period. Duality Advisers LP acquired a new position in shares of Cheesecake Factory during the 1st quarter worth approximately $1,829,000. Sciencast Management LP acquired a new stake in Cheesecake Factory during the 1st quarter valued at $400,000. Finally, SG Americas Securities LLC bought a new position in Cheesecake Factory during the first quarter worth $121,000. Institutional investors and hedge funds own 94.48% of the company’s stock.

Cheesecake Factory Stock Down 0.9 %

CAKE stock opened at $45.82 on Monday. The stock has a 50-day simple moving average of $40.27 and a two-hundred day simple moving average of $38.53. The company has a quick ratio of 0.32, a current ratio of 0.43 and a debt-to-equity ratio of 1.26. The firm has a market capitalization of $2.33 billion, a PE ratio of 17.42, a PEG ratio of 1.27 and a beta of 1.47. The Cheesecake Factory Incorporated has a twelve month low of $29.27 and a twelve month high of $49.75.

Cheesecake Factory (NASDAQ:CAKE) last announced its quarterly earnings data on Tuesday, October 29th. The restaurant operator reported $0.58 EPS for the quarter, beating the consensus estimate of $0.47 by $0.11. The firm had revenue of $865.50 million for the quarter, compared to analyst estimates of $866.13 million. Cheesecake Factory had a return on equity of 45.66% and a net margin of 3.63%. The company’s revenue was up 4.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.39 EPS. On average, equities analysts predict that The Cheesecake Factory Incorporated will post 3.29 EPS for the current fiscal year.

Cheesecake Factory Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 26th. Shareholders of record on Wednesday, November 13th will be given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 2.36%. The ex-dividend date is Wednesday, November 13th. Cheesecake Factory’s payout ratio is currently 41.06%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on CAKE shares. UBS Group boosted their price objective on Cheesecake Factory from $32.00 to $36.00 and gave the stock a “sell” rating in a report on Friday, October 25th. Wells Fargo & Company raised their target price on shares of Cheesecake Factory from $38.00 to $45.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Citigroup lifted their price target on Cheesecake Factory from $46.00 to $51.00 and gave the company a “buy” rating in a research note on Friday, October 4th. Bank of America lifted their price target on shares of Cheesecake Factory from $47.00 to $49.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Finally, Barclays increased 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. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $44.17.

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.