Public Employees Retirement System of Ohio Cuts Stake in The Cheesecake Factory Incorporated (NASDAQ:CAKE)

Public Employees Retirement System of Ohio reduced its position in The Cheesecake Factory Incorporated (NASDAQ:CAKE) by 0.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 68,395 shares of the restaurant operator’s stock after selling 53 shares during the period. Public Employees Retirement System of Ohio owned approximately 0.15% of The Cheesecake Factory worth $4,334,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank increased its position in The Cheesecake Factory by 32.2% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,621 shares of the restaurant operator’s stock valued at $103,000 after buying an additional 395 shares during the period. TrimTabs Asset Management LLC increased its position in The Cheesecake Factory by 89.0% in the first quarter. TrimTabs Asset Management LLC now owns 2,056 shares of the restaurant operator’s stock valued at $130,000 after buying an additional 968 shares during the period. Parallel Advisors LLC increased its position in The Cheesecake Factory by 13.5% in the first quarter. Parallel Advisors LLC now owns 1,974 shares of the restaurant operator’s stock valued at $132,000 after buying an additional 235 shares during the period. Tyers Asset Management LLC increased its position in The Cheesecake Factory by 1.1% in the first quarter. Tyers Asset Management LLC now owns 2,112 shares of the restaurant operator’s stock valued at $134,000 after buying an additional 22 shares during the period. Finally, Flinton Capital Management LLC increased its position in The Cheesecake Factory by 1.1% in the first quarter. Flinton Capital Management LLC now owns 2,688 shares of the restaurant operator’s stock valued at $170,000 after buying an additional 28 shares during the period. Institutional investors and hedge funds own 96.93% of the company’s stock.

The Cheesecake Factory Incorporated (NASDAQ CAKE) traded up 2.13% during mid-day trading on Friday, hitting $45.13. 1,889,752 shares of the stock traded hands. The Cheesecake Factory Incorporated has a 12-month low of $44.02 and a 12-month high of $67.14. The company has a market cap of $2.08 billion, a price-to-earnings ratio of 15.79 and a beta of 0.31. The firm’s 50-day moving average is $50.13 and its 200-day moving average is $58.36.

The Cheesecake Factory (NASDAQ:CAKE) last issued its quarterly earnings results on Wednesday, August 2nd. The restaurant operator reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.02. The business had revenue of $569.87 million during the quarter, compared to the consensus estimate of $573.12 million. The Cheesecake Factory had a net margin of 6.10% and a return on equity of 22.92%. The company’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.78 earnings per share. Equities research analysts expect that The Cheesecake Factory Incorporated will post $2.67 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 29th. Stockholders of record on Wednesday, August 16th will be issued a dividend of $0.29 per share. The ex-dividend date of this dividend is Monday, August 14th. This is an increase from The Cheesecake Factory’s previous quarterly dividend of $0.24. This represents a $1.16 dividend on an annualized basis and a dividend yield of 2.57%. The Cheesecake Factory’s payout ratio is 33.68%.

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Several research firms recently weighed in on CAKE. Zacks Investment Research upgraded shares of The Cheesecake Factory from a “sell” rating to a “hold” rating in a research report on Tuesday, April 25th. Maxim Group restated a “hold” rating and set a $65.00 price target (up previously from $59.00) on shares of The Cheesecake Factory in a research report on Monday, May 1st. Jefferies Group LLC upgraded shares of The Cheesecake Factory from an “underperform” rating to a “hold” rating and set a $52.00 price target for the company in a research report on Tuesday, June 13th. They noted that the move was a valuation call. Robert W. Baird restated a “neutral” rating and set a $57.00 price target (down previously from $60.00) on shares of The Cheesecake Factory in a research report on Wednesday, June 14th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $56.00 price objective (down previously from $62.00) on shares of The Cheesecake Factory in a research note on Wednesday, June 14th. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and five have given a buy rating to the company. The Cheesecake Factory presently has an average rating of “Hold” and a consensus price target of $55.18.

In other news, VP Debby R. Zurzolo sold 6,424 shares of The Cheesecake Factory stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $59.09, for a total transaction of $379,594.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 8.50% of the company’s stock.

About The Cheesecake Factory

The Cheesecake Factory Incorporated is engaged in the restaurant and bakery business. As of March 2, 2017, the Company operated 208 Company-owned restaurants: 194 under The Cheesecake Factory mark, 13 under the Grand Lux Cafe mark and one under the Rock Sugar Pan Asian Kitchen mark. The Company’s segments include The Cheesecake Factory restaurants, and other.

Institutional Ownership by Quarter for The Cheesecake Factory (NASDAQ:CAKE)

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