Tower Research Capital LLC TRC increased its position in The Cheesecake Factory Inc. (NASDAQ:CAKE) by 295.2% during the second quarter, Holdings Channel reports. The institutional investor owned 6,055 shares of the company’s stock after buying an additional 4,523 shares during the period. Tower Research Capital LLC TRC’s holdings in The Cheesecake Factory were worth $292,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of The Cheesecake Factory by 5.0% in the second quarter. Vanguard Group Inc. now owns 3,344,266 shares of the company’s stock worth $160,992,000 after buying an additional 159,860 shares in the last quarter. State Street Corp increased its stake in shares of The Cheesecake Factory by 1.3% in the first quarter. State Street Corp now owns 1,511,119 shares of the company’s stock worth $80,223,000 after buying an additional 19,751 shares in the last quarter. BlackRock Institutional Trust Company N.A. increased its stake in shares of The Cheesecake Factory by 5.7% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,489,463 shares of the company’s stock worth $79,076,000 after buying an additional 80,134 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of The Cheesecake Factory by 0.8% in the second quarter. Dimensional Fund Advisors LP now owns 1,233,310 shares of the company’s stock worth $59,371,000 after buying an additional 9,901 shares in the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC increased its stake in shares of The Cheesecake Factory by 1.3% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,197,622 shares of the company’s stock worth $57,653,000 after buying an additional 15,466 shares in the last quarter. 89.48% of the stock is currently owned by institutional investors and hedge funds.

The Cheesecake Factory Inc. (NASDAQ:CAKE) opened at 49.37 on Wednesday. The company has a market capitalization of $2.29 billion, a price-to-earnings ratio of 19.69 and a beta of 0.45. The Cheesecake Factory Inc. has a 52-week low of $44.16 and a 52-week high of $55.58. The stock has a 50 day moving average price of $51.19 and a 200 day moving average price of $50.99.

The Cheesecake Factory (NASDAQ:CAKE) last announced its earnings results on Wednesday, July 27th. The company reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.07. The Cheesecake Factory had a net margin of 5.81% and a return on equity of 22.04%. The company earned $558.86 million during the quarter, compared to analyst estimates of $562.96 million. During the same period in the previous year, the business earned $0.69 earnings per share. The firm’s quarterly revenue was up 5.6% compared to the same quarter last year. Equities research analysts forecast that The Cheesecake Factory Inc. will post $2.75 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 23rd. Investors of record on Wednesday, August 10th were given a $0.24 dividend. The ex-dividend date was Monday, August 8th. This is a positive change from The Cheesecake Factory’s previous quarterly dividend of $0.20. This represents a $0.96 annualized dividend and a yield of 1.94%. The Cheesecake Factory’s payout ratio is 38.10%.

CAKE has been the topic of a number of analyst reports. Zacks Investment Research raised The Cheesecake Factory from a “sell” rating to a “hold” rating in a report on Monday, July 25th. Stifel Nicolaus downgraded The Cheesecake Factory from a “buy” rating to a “sell” rating and reduced their target price for the company from $65.00 to $43.00 in a report on Tuesday, July 26th. Robert W. Baird reaffirmed a “neutral” rating on shares of The Cheesecake Factory in a report on Thursday, September 8th. Canaccord Genuity initiated coverage on The Cheesecake Factory in a report on Monday, August 22nd. They issued a “hold” rating and a $54.00 target price on the stock. Finally, Barclays PLC raised their target price on The Cheesecake Factory from $53.00 to $54.00 and gave the company an “equal weight” rating in a report on Thursday, July 28th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. The Cheesecake Factory presently has a consensus 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 dated Monday, July 25th. The shares were sold at an average price of $53.00, for a total transaction of $345,136.00. Following the completion of the sale, the chief financial officer now directly owns 51,344 shares in the company, valued at $2,721,232. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 8.50% of the stock is currently owned by corporate insiders.

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.

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