Public Sector Pension Investment Board Sells 3,900 Shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE)

Public Sector Pension Investment Board trimmed its position in shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE) by 3.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 99,252 shares of the restaurant operator’s stock after selling 3,900 shares during the period. Public Sector Pension Investment Board owned about 0.19% of Cheesecake Factory worth $4,025,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of CAKE. Earnest Partners LLC raised its position in Cheesecake Factory by 2.8% during the 2nd quarter. Earnest Partners LLC now owns 2,831,381 shares of the restaurant operator’s stock valued at $111,245,000 after purchasing an additional 76,578 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Cheesecake Factory by 3.6% during the second quarter. Dimensional Fund Advisors LP now owns 1,241,272 shares of the restaurant operator’s stock valued at $48,772,000 after acquiring an additional 43,128 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of Cheesecake Factory by 31.1% during the second quarter. American Century Companies Inc. now owns 942,694 shares of the restaurant operator’s stock valued at $37,038,000 after acquiring an additional 223,497 shares in the last quarter. William Blair Investment Management LLC lifted its stake in Cheesecake Factory by 8.0% in the second quarter. William Blair Investment Management LLC now owns 819,328 shares of the restaurant operator’s stock worth $32,191,000 after acquiring an additional 60,545 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Cheesecake Factory by 1.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 597,901 shares of the restaurant operator’s stock valued at $24,245,000 after acquiring an additional 6,872 shares in the last quarter. 94.48% of the stock is currently owned by hedge funds and other institutional investors.

Cheesecake Factory Stock Performance

Shares of CAKE stock opened at $49.55 on Tuesday. The company has a market capitalization of $2.53 billion, a price-to-earnings ratio of 19.27, a price-to-earnings-growth ratio of 1.39 and a beta of 1.47. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.33 and a current ratio of 0.44. The Cheesecake Factory Incorporated has a one year low of $31.24 and a one year high of $50.94. The company’s 50-day moving average is $44.04 and its 200 day moving average is $40.30.

Cheesecake Factory (NASDAQ:CAKE) last posted its quarterly earnings results on Tuesday, October 29th. The restaurant operator reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.11. The firm 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%. The business’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.39 earnings per share. Sell-side analysts expect that The Cheesecake Factory Incorporated will post 3.3 EPS for the current fiscal year.

Cheesecake Factory Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 26th. Stockholders of record on Wednesday, November 13th were issued a dividend of $0.27 per share. 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 presently 41.06%.

Analyst Upgrades and Downgrades

CAKE has been the subject of several research reports. Wells Fargo & Company upped their price objective on shares of Cheesecake Factory from $38.00 to $45.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Wedbush upped their target price on Cheesecake Factory from $52.00 to $59.00 and gave the stock an “outperform” rating in a report on Thursday, November 14th. Bank of America increased their target price on Cheesecake Factory from $47.00 to $49.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Robert W. Baird lifted their price target on Cheesecake Factory from $40.00 to $47.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Finally, UBS Group increased 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. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $44.75.

Insider Transactions at Cheesecake Factory

In related news, insider Keith Carango sold 13,095 shares of Cheesecake Factory stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $49.88, for a total value of $653,178.60. Following the completion of the sale, the insider now owns 14,977 shares of the company’s stock, valued at $747,052.76. The trade was a 46.65 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 8.10% of the company’s stock.

Cheesecake Factory Company 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.