New York State Teachers Retirement System Has $2.62 Million Position in The Cheesecake Factory Incorporated (NASDAQ:CAKE)

New York State Teachers Retirement System increased its stake in shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE) by 0.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 74,707 shares of the restaurant operator’s stock after purchasing an additional 672 shares during the quarter. New York State Teachers Retirement System owned approximately 0.15% of Cheesecake Factory worth $2,615,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in CAKE. Studio Investment Management LLC bought a new position in Cheesecake Factory in the 3rd quarter valued at approximately $25,000. Tower Research Capital LLC TRC lifted its stake in Cheesecake Factory by 338.4% in the 1st quarter. Tower Research Capital LLC TRC now owns 982 shares of the restaurant operator’s stock valued at $34,000 after purchasing an additional 758 shares during the last quarter. State of Wyoming bought a new position in Cheesecake Factory in the 2nd quarter valued at approximately $59,000. DekaBank Deutsche Girozentrale bought a new position in Cheesecake Factory in the 3rd quarter valued at approximately $70,000. Finally, Quantbot Technologies LP lifted its stake in Cheesecake Factory by 356.8% in the 2nd quarter. Quantbot Technologies LP now owns 3,965 shares of the restaurant operator’s stock valued at $104,000 after purchasing an additional 3,097 shares during the last quarter. Institutional investors own 94.48% of the company’s stock.

Cheesecake Factory Trading Up 0.5 %

CAKE opened at $33.62 on Tuesday. The Cheesecake Factory Incorporated has a twelve month low of $28.58 and a twelve month high of $38.19. The company has a quick ratio of 0.37, a current ratio of 0.46 and a debt-to-equity ratio of 1.48. The company has a fifty day moving average of $35.33 and a 200-day moving average of $33.48. The stock has a market cap of $1.72 billion, a PE ratio of 16.32, a price-to-earnings-growth ratio of 1.06 and a beta of 1.48.

Cheesecake Factory (NASDAQ:CAKE) last posted its quarterly earnings data on Wednesday, February 21st. The restaurant operator reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.07. The company had revenue of $877.00 million during the quarter, compared to analysts’ expectations of $876.17 million. Cheesecake Factory had a net margin of 2.95% and a return on equity of 41.66%. Cheesecake Factory’s revenue for the quarter was down 1.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.56 earnings per share. On average, sell-side analysts predict that The Cheesecake Factory Incorporated will post 3.07 EPS for the current year.

Cheesecake Factory Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 19th. Shareholders of record on Wednesday, March 6th were issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 3.21%. The ex-dividend date of this dividend was Tuesday, March 5th. Cheesecake Factory’s payout ratio is 52.43%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Oppenheimer reissued a “market perform” rating on shares of Cheesecake Factory in a research note on Thursday, February 22nd. Barclays raised their price target on shares of Cheesecake Factory from $32.00 to $33.00 and gave the company an “underweight” rating in a research note on Thursday, February 22nd. Stephens reaffirmed an “overweight” rating and set a $44.00 price target on shares of Cheesecake Factory in a research note on Friday. Piper Sandler raised their price target on shares of Cheesecake Factory from $33.00 to $37.00 and gave the company a “neutral” rating in a research note on Thursday, February 22nd. Finally, JPMorgan Chase & Co. downgraded shares of Cheesecake Factory from a “neutral” rating to an “underweight” rating and set a $33.00 price target for the company. in a research note on Tuesday, January 23rd. Three analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, Cheesecake Factory currently has an average rating of “Hold” and a consensus target price of $35.64.

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.