Mutual of America Capital Management LLC Lowers Holdings in The Cheesecake Factory Incorporated (NASDAQ:CAKE)

Mutual of America Capital Management LLC lowered its stake in shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE) by 8.6% during the 3rd quarter, Holdings Channel.com reports. The fund owned 7,040 shares of the restaurant operator’s stock after selling 666 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Cheesecake Factory were worth $285,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of CAKE. GAMMA Investing LLC lifted its stake in shares of Cheesecake Factory by 276.4% in the 2nd quarter. GAMMA Investing LLC now owns 1,449 shares of the restaurant operator’s stock worth $57,000 after purchasing an additional 1,064 shares during the period. nVerses Capital LLC purchased a new position in shares of Cheesecake Factory in the second quarter valued at $67,000. Wealth Alliance bought a new stake in Cheesecake Factory in the second quarter worth $213,000. Foundations Investment Advisors LLC bought a new stake in Cheesecake Factory in the third quarter worth $227,000. Finally, Commonwealth Equity Services LLC lifted its position in shares of Cheesecake Factory by 13.4% during the second quarter. Commonwealth Equity Services LLC now owns 6,771 shares of the restaurant operator’s stock worth $266,000 after purchasing an additional 802 shares during the last quarter. Institutional investors own 94.48% of the company’s stock.

Cheesecake Factory Stock Up 1.8 %

Cheesecake Factory stock opened at $49.74 on Friday. The Cheesecake Factory Incorporated has a twelve month low of $30.96 and a twelve month high of $50.75. The firm’s 50 day moving average price is $43.59 and its two-hundred day moving average price is $40.15. 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 firm has a market cap of $2.54 billion, a PE ratio of 18.91, a P/E/G ratio of 1.34 and a beta of 1.47.

Cheesecake Factory (NASDAQ:CAKE) last issued its 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. Cheesecake Factory had a return on equity of 43.90% and a net margin of 3.63%. The business had revenue of $865.50 million during the quarter, compared to analyst estimates of $866.13 million. During the same period in the prior year, the company posted $0.39 earnings per share. Cheesecake Factory’s revenue was up 4.3% on a year-over-year basis. On average, research analysts predict that The Cheesecake Factory Incorporated will post 3.3 EPS for the current fiscal year.

Cheesecake Factory Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 26th. Shareholders of record on Wednesday, November 13th were paid a $0.27 dividend. The ex-dividend date of this dividend was Wednesday, November 13th. This represents a $1.08 dividend on an annualized basis and a yield of 2.17%. Cheesecake Factory’s payout ratio is presently 41.06%.

Analyst Upgrades and Downgrades

CAKE has been the topic of several research reports. Citigroup raised their price target on Cheesecake Factory from $46.00 to $51.00 and gave the company a “buy” rating in a research note on Friday, October 4th. Robert W. Baird lifted their target price on Cheesecake Factory from $40.00 to $47.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Wedbush upped their price target on shares of Cheesecake Factory from $52.00 to $59.00 and gave the stock an “outperform” rating in a research report on Thursday, November 14th. UBS Group boosted their price target on shares of Cheesecake Factory from $32.00 to $36.00 and gave the company a “sell” rating in a research report on Friday, October 25th. Finally, Wells Fargo & Company upped their price target on Cheesecake Factory from $38.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $44.75.

Insiders Place Their Bets

In other Cheesecake Factory news, insider Keith Carango sold 13,095 shares of the stock in a transaction on Wednesday, November 6th. The shares were 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 in the company, valued at $747,052.76. This trade represents a 46.65 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 8.10% of the company’s stock.

About Cheesecake Factory

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.