California Public Employees Retirement System Purchases 16,106 Shares of Cheesecake Factory Inc (CAKE)

California Public Employees Retirement System boosted its position in Cheesecake Factory Inc (NASDAQ:CAKE) by 15.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 120,218 shares of the restaurant operator’s stock after acquiring an additional 16,106 shares during the period. California Public Employees Retirement System owned 0.26% of Cheesecake Factory worth $5,797,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in CAKE. BlackRock Inc. raised its stake in shares of Cheesecake Factory by 0.8% in the first quarter. BlackRock Inc. now owns 4,779,466 shares of the restaurant operator’s stock worth $230,465,000 after purchasing an additional 38,397 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its stake in shares of Cheesecake Factory by 5.5% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,690,151 shares of the restaurant operator’s stock worth $129,719,000 after purchasing an additional 141,443 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of Cheesecake Factory by 4.5% in the fourth quarter. Bank of New York Mellon Corp now owns 1,729,444 shares of the restaurant operator’s stock worth $83,324,000 after purchasing an additional 74,729 shares during the last quarter. Macquarie Group Ltd. raised its stake in shares of Cheesecake Factory by 2.4% in the fourth quarter. Macquarie Group Ltd. now owns 1,488,457 shares of the restaurant operator’s stock worth $71,714,000 after purchasing an additional 35,071 shares during the last quarter. Finally, Deutsche Bank AG raised its stake in shares of Cheesecake Factory by 62.3% in the fourth quarter. Deutsche Bank AG now owns 1,006,212 shares of the restaurant operator’s stock worth $48,478,000 after purchasing an additional 386,415 shares during the last quarter. Institutional investors and hedge funds own 97.55% of the company’s stock.

Shares of CAKE opened at $57.67 on Monday. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.48 and a quick ratio of 0.36. The company has a market cap of $2.73 billion, a P/E ratio of 22.18, a price-to-earnings-growth ratio of 1.55 and a beta of 0.27. Cheesecake Factory Inc has a 12 month low of $38.34 and a 12 month high of $60.08.

Cheesecake Factory (NASDAQ:CAKE) last issued its quarterly earnings results on Wednesday, April 25th. The restaurant operator reported $0.56 EPS for the quarter, missing the Zacks’ consensus estimate of $0.68 by ($0.12). The business had revenue of $590.69 million for the quarter, compared to analysts’ expectations of $583.76 million. Cheesecake Factory had a net margin of 6.49% and a return on equity of 19.01%. The business’s revenue was up 4.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.72 earnings per share. equities research analysts predict that Cheesecake Factory Inc will post 2.68 EPS for the current year.

Several analysts have recently commented on CAKE shares. Maxim Group increased their price objective on Cheesecake Factory from $57.00 to $60.00 and gave the stock a “buy” rating in a research note on Thursday, June 14th. Bank of America increased their price objective on Cheesecake Factory from $52.00 to $55.00 and gave the stock a “neutral” rating in a research note on Thursday, June 14th. Canaccord Genuity reissued a “hold” rating and issued a $57.00 price objective on shares of Cheesecake Factory in a research note on Friday, April 20th. Barclays increased their price objective on Cheesecake Factory from $48.00 to $52.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 26th. Finally, Telsey Advisory Group increased their price objective on Cheesecake Factory from $48.00 to $52.00 and gave the stock a “market perform” rating in a research note on Thursday, April 26th. Seventeen equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $50.09.

In related news, VP Debby R. Zurzolo sold 1,780 shares of the stock in a transaction that occurred on Thursday, May 31st. The stock was sold at an average price of $52.20, for a total transaction of $92,916.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman David Overton sold 93,300 shares of the stock in a transaction that occurred on Monday, April 30th. The shares were sold at an average price of $51.93, for a total value of $4,845,069.00. The disclosure for this sale can be found here. Insiders have sold 133,110 shares of company stock valued at $6,953,971 over the last ninety days. 8.80% of the stock is currently owned by company insiders.

Cheesecake Factory Company Profile

The Cheesecake Factory Incorporated operates restaurants in the United States. The company produces cheesecakes and other baked products for own restaurants and international licensees, as well as external foodservice operators, retailers, and distributors. As of February 28, 2018, it operated 214 company-owned restaurants, including 199 restaurants under The Cheesecake Factory brand; 13 restaurants under the Grand Lux Cafe brand; and 2 restaurants under the RockSugar Southeast Asian Kitchen brand, as well as 20 The Cheesecake Factory branded restaurants under licensing agreements internationally.

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

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