Louisiana State Employees Retirement System decreased its position in The Cheesecake Factory Inc. (NASDAQ:CAKE) by 4.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,900 shares of the company’s stock after selling 600 shares during the period. Louisiana State Employees Retirement System’s holdings in The Cheesecake Factory were worth $573,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of CAKE. BlackRock Japan Co. Ltd increased its position in shares of The Cheesecake Factory by 28.8% in the first quarter. BlackRock Japan Co. Ltd now owns 2,128 shares of the company’s stock worth $113,000 after buying an additional 476 shares during the period. Bessemer Group Inc. boosted its stake in The Cheesecake Factory by 2,510.0% in the first quarter. Bessemer Group Inc. now owns 2,610 shares of the company’s stock worth $139,000 after buying an additional 2,510 shares in the last quarter. LS Investment Advisors LLC boosted its stake in The Cheesecake Factory by 66.1% in the second quarter. LS Investment Advisors LLC now owns 2,740 shares of the company’s stock worth $132,000 after buying an additional 1,090 shares in the last quarter. M&T Bank Corp purchased a new stake in The Cheesecake Factory during the first quarter worth $209,000. Finally, Parametrica Management Ltd purchased a new stake in The Cheesecake Factory during the second quarter worth $207,000. 89.43% of the stock is owned by institutional investors and hedge funds.
Shares of The Cheesecake Factory Inc. (NASDAQ:CAKE) traded down 0.33% on Monday, hitting $51.13. The company had a trading volume of 358,249 shares. The company has a 50 day moving average of $50.76 and a 200-day moving average of $50.73. The company has a market cap of $2.37 billion, a price-to-earnings ratio of 20.39 and a beta of 0.35. The Cheesecake Factory Inc. has a 12-month low of $44.16 and a 12-month high of $54.13.
The Cheesecake Factory (NASDAQ:CAKE) last announced its earnings results on Wednesday, July 27th. The company reported $0.78 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.07. The Cheesecake Factory had a return on equity of 22.04% and a net margin of 5.81%. The firm had revenue of $558.86 million for the quarter, compared to analysts’ expectations of $562.96 million. During the same quarter in the previous year, the company earned $0.69 earnings per share. The firm’s quarterly revenue was up 5.6% compared to the same quarter last year. On average, analysts forecast that The Cheesecake Factory Inc. will post $2.75 earnings per share for the current year.
A number of equities research analysts recently weighed in on the company. Zacks Investment Research upgraded The Cheesecake Factory from a “hold” rating to a “buy” rating and set a $58.00 price target on the stock in a report on Tuesday, September 27th. Robert W. Baird restated a “neutral” rating on shares of The Cheesecake Factory in a report on Thursday, September 8th. Canaccord Genuity assumed coverage on The Cheesecake Factory in a report on Monday, August 22nd. They issued a “hold” rating and a $54.00 price target on the stock. Barclays PLC upped their price target on The Cheesecake Factory from $53.00 to $54.00 and gave the stock an “equal weight” rating in a report on Thursday, July 28th. Finally, Stifel Nicolaus cut The Cheesecake Factory from a “buy” rating to a “sell” rating and lowered their price target for the stock from $65.00 to $43.00 in a report on Tuesday, July 26th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $54.73.
In other The Cheesecake Factory news, CFO Doug Benn sold 6,512 shares of the company’s stock in a transaction on Monday, July 25th. The stock was sold at an average price of $53.00, for a total value of $345,136.00. Following the transaction, the chief financial officer now owns 51,344 shares of the company’s stock, valued at $2,721,232. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 8.50% of the company’s stock.
About The Cheesecake Factory
The Cheesecake Factory Incorporated is engaged in the restaurant and bakery business. The Company operates approximately 200 Company-owned restaurants, including approximately 190 restaurants under The Cheesecake Factory mark and approximately 10 restaurants under the Grand Lux Cafe mark. The Company’s segments include The Cheesecake Factory restaurants, and other, which includes Grand Lux Cafe, RockSugar Pan Asian Kitchen, bakery and international licensing.
Want to see what other hedge funds are holding CAKE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Cheesecake Factory Inc. (NASDAQ:CAKE).
Receive News & Ratings for The Cheesecake Factory Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Cheesecake Factory Inc. and related companies with MarketBeat.com's FREE daily email newsletter.