Public Sector Pension Investment Board Acquires 7,408 Shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE)

Public Sector Pension Investment Board lifted its holdings in shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE) by 7.7% during the 2nd quarter, Holdings Channel.com reports. The firm owned 103,152 shares of the restaurant operator’s stock after buying an additional 7,408 shares during the quarter. Public Sector Pension Investment Board’s holdings in Cheesecake Factory were worth $4,053,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. Norges Bank bought a new position in shares of Cheesecake Factory during the fourth quarter valued at about $11,729,000. Capstone Investment Advisors LLC purchased a new stake in Cheesecake Factory during the 4th quarter valued at about $727,000. Campbell & CO Investment Adviser LLC bought a new position in Cheesecake Factory during the 4th quarter worth approximately $2,532,000. Seven Eight Capital LP increased its stake in Cheesecake Factory by 231.4% in the 4th quarter. Seven Eight Capital LP now owns 30,086 shares of the restaurant operator’s stock worth $1,053,000 after purchasing an additional 21,007 shares during the period. Finally, Ables Iannone Moore & Associates Inc. bought a new stake in Cheesecake Factory in the fourth quarter valued at approximately $26,000. Hedge funds and other institutional investors own 94.48% of the company’s stock.

Cheesecake Factory Trading Up 2.5 %

NASDAQ CAKE opened at $41.13 on Friday. The firm has a market capitalization of $2.10 billion, a PE ratio of 18.87, a P/E/G ratio of 1.14 and a beta of 1.50. The stock’s 50 day moving average is $37.94 and its 200 day moving average is $37.36. The Cheesecake Factory Incorporated has a twelve month low of $28.58 and a twelve month high of $41.33. The company has a quick ratio of 0.32, a current ratio of 0.43 and a debt-to-equity ratio of 1.26.

Cheesecake Factory (NASDAQ:CAKE) last announced its earnings results on Wednesday, July 31st. The restaurant operator reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $1.00 by $0.09. The firm had revenue of $904.04 million for the quarter, compared to analysts’ expectations of $909.19 million. Cheesecake Factory had a net margin of 3.32% and a return on equity of 43.62%. The company’s quarterly revenue was up 4.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.88 EPS. Research analysts forecast that The Cheesecake Factory Incorporated will post 3.21 earnings per share for the current fiscal year.

Cheesecake Factory Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 27th. Shareholders of record on Wednesday, August 14th were paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.63%. The ex-dividend date of this dividend was Wednesday, August 14th. Cheesecake Factory’s dividend payout ratio is 49.54%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on CAKE shares. Barclays raised their target price on shares of Cheesecake Factory from $32.00 to $35.00 and gave the stock an “underweight” rating in a report on Thursday, August 1st. JPMorgan Chase & Co. cut their price target on shares of Cheesecake Factory from $40.00 to $38.00 and set an “underweight” rating on the stock in a report on Tuesday, August 6th. Wells Fargo & Company upped their price objective on shares of Cheesecake Factory from $36.00 to $38.00 and gave the company an “equal weight” rating in a research note on Thursday, August 1st. Stephens reissued an “overweight” rating and issued a $50.00 target price on shares of Cheesecake Factory in a research note on Thursday, August 1st. Finally, Robert W. Baird upped their price target on Cheesecake Factory from $37.00 to $40.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $40.08.

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.