Public Sector Pension Investment Board Trims Position in The Cheesecake Factory Incorporated (NASDAQ:CAKE)

Public Sector Pension Investment Board lowered its position in The Cheesecake Factory Incorporated (NASDAQ:CAKE) by 3.8% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 99,252 shares of the restaurant operator’s stock after selling 3,900 shares during the quarter. Public Sector Pension Investment Board’s holdings in Cheesecake Factory were worth $4,025,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of CAKE. GAMMA Investing LLC lifted its position in shares of Cheesecake Factory by 276.4% in the second quarter. GAMMA Investing LLC now owns 1,449 shares of the restaurant operator’s stock valued at $57,000 after acquiring an additional 1,064 shares in the last quarter. nVerses Capital LLC purchased a new position in Cheesecake Factory in the 2nd quarter worth approximately $67,000. Wealth Alliance bought a new position in Cheesecake Factory in the 2nd quarter worth approximately $213,000. Glenmede Trust Co. NA bought a new position in shares of Cheesecake Factory during the third quarter worth $223,000. Finally, Foundations Investment Advisors LLC purchased a new position in shares of Cheesecake Factory during the third quarter valued at about $227,000. Institutional investors own 94.48% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on CAKE. 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 report on Thursday, November 14th. Wells Fargo & Company lifted their price objective on shares of Cheesecake Factory from $38.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Robert W. Baird boosted their target price 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. Barclays increased their price target on shares of Cheesecake Factory from $38.00 to $44.00 and gave the company an “underweight” rating in a report on Wednesday, October 30th. Finally, Citigroup boosted their price objective on Cheesecake Factory from $46.00 to $51.00 and gave the stock a “buy” rating in a research note on Friday, October 4th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $44.75.

Cheesecake Factory Stock Down 2.2 %

NASDAQ:CAKE opened at $49.55 on Tuesday. 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 1-year low of $31.24 and a 1-year high of $50.94. The company has a 50-day moving average of $44.04 and a 200 day moving average of $40.30. The firm has a market cap of $2.53 billion, a PE ratio of 19.27, a price-to-earnings-growth ratio of 1.39 and a beta of 1.47.

Cheesecake Factory (NASDAQ:CAKE) last issued its quarterly earnings data on Tuesday, October 29th. The restaurant operator reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.11. The company had revenue of $865.50 million during 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%. Cheesecake Factory’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.39 earnings per share. As a group, research analysts anticipate that The Cheesecake Factory Incorporated will post 3.3 EPS for the current fiscal year.

Cheesecake Factory Dividend Announcement

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. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date was Wednesday, November 13th. Cheesecake Factory’s payout ratio is currently 41.06%.

Insider Buying and Selling

In other news, insider Keith Carango sold 13,095 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $49.88, for a total transaction of $653,178.60. Following the completion of the sale, the insider now owns 14,977 shares in the company, valued at approximately $747,052.76. This represents a 46.65 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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.