Public Employees Retirement System of Ohio Takes Position in The Cheesecake Factory Incorporated $CAKE

Public Employees Retirement System of Ohio bought a new stake in The Cheesecake Factory Incorporated (NASDAQ:CAKE) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 29,763 shares of the restaurant operator’s stock, valued at approximately $2,367,000. Public Employees Retirement System of Ohio owned approximately 0.06% of Cheesecake Factory at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Oppenheimer Asset Management Inc. bought a new stake in shares of Cheesecake Factory during the second quarter valued at approximately $2,606,000. Fisher Asset Management LLC raised its position in shares of Cheesecake Factory by 7.2% during the fourth quarter. Fisher Asset Management LLC now owns 503,184 shares of the restaurant operator’s stock worth $25,401,000 after purchasing an additional 33,959 shares during the period. Lotus Technology Management LP bought a new position in shares of Cheesecake Factory in the 2nd quarter worth $1,870,000. Louisiana State Employees Retirement System acquired a new stake in Cheesecake Factory in the 1st quarter valued at $1,111,000. Finally, Deutsche Bank AG acquired a new stake in Cheesecake Factory in the 2nd quarter valued at $3,922,000. 94.48% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CAKE. Robert W. Baird upgraded shares of Cheesecake Factory to a “hold” rating in a report on Monday, August 24th. Citigroup lifted their price objective on shares of Cheesecake Factory from $76.00 to $90.00 and gave the company a “buy” rating in a report on Friday, July 10th. JPMorgan Chase & Co. upped their target price on shares of Cheesecake Factory from $92.00 to $105.00 and gave the stock a “neutral” rating in a report on Wednesday, August 26th. Northcoast Research cut shares of Cheesecake Factory from a “buy” rating to a “neutral” rating in a research report on Monday, June 15th. Finally, Stephens reiterated a “positive” rating on shares of Cheesecake Factory in a research note on Wednesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Cheesecake Factory presently has a consensus rating of “Hold” and an average price target of $83.47.

Cheesecake Factory Price Performance

CAKE opened at $107.58 on Friday. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.59 and a quick ratio of 0.52. The company has a market capitalization of $5.35 billion, a price-to-earnings ratio of 29.15, a P/E/G ratio of 1.82 and a beta of 1.01. The firm’s fifty day moving average price is $97.08 and its two-hundred day moving average price is $74.91. The Cheesecake Factory Incorporated has a 1 year low of $43.07 and a 1 year high of $118.46.

Cheesecake Factory (NASDAQ:CAKE) last announced its earnings results on Tuesday, July 28th. The restaurant operator reported $1.44 EPS for the quarter, beating the consensus estimate of $1.18 by $0.26. The company had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $999.54 million. Cheesecake Factory had a net margin of 4.61% and a return on equity of 43.97%. The firm’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.16 earnings per share. As a group, analysts anticipate that The Cheesecake Factory Incorporated will post 4.52 earnings per share for the current fiscal year.

Cheesecake Factory Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 25th. Shareholders of record on Tuesday, August 11th were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend was Tuesday, August 11th. Cheesecake Factory’s dividend payout ratio is presently 32.52%.

Insider Transactions at Cheesecake Factory

In other Cheesecake Factory news, EVP Scarlett May sold 7,978 shares of Cheesecake Factory stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $102.66, for a total transaction of $819,021.48. Following the transaction, the executive vice president owned 18,241 shares of the company’s stock, valued at $1,872,621.06. This trade represents a 30.43% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Edie Ames sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $106.95, for a total value of $320,850.00. Following the completion of the transaction, the director owned 10,000 shares in the company, valued at $1,069,500. The trade was a 23.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 213,749 shares of company stock worth $22,301,899. Company insiders own 8.00% of the company’s stock.

About Cheesecake Factory

The Cheesecake Factory Incorporated (NASDAQ:CAKE) is an American restaurant company and distributor renowned for its full-service casual-dining concept and specialty cheesecakes. Headquartered in Calabasas Hills, California, the company operates more than 200 restaurants under The Cheesecake Factory® brand across the United States, Puerto Rico and select international markets. In addition to sit-down dining, Cheesecake Factory franchised locations offer catering and take-out services, while a separate manufacturing arm supplies branded cheesecakes and desserts to supermarkets, hotels and other foodservice operators.

The origins of the brand trace back to a small cheesecake bakery founded in Detroit in the 1940s.