Texas Permanent School Fund increased its position in The Cheesecake Factory Incorporated (NASDAQ:CAKE) by 1.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,567 shares of the restaurant operator’s stock after buying an additional 431 shares during the period. Texas Permanent School Fund’s holdings in The Cheesecake Factory were worth $1,638,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of CAKE. Cookson Peirce & Co. Inc. raised its stake in The Cheesecake Factory by 96.7% in the first quarter. Cookson Peirce & Co. Inc. now owns 8,535 shares of the restaurant operator’s stock worth $541,000 after buying an additional 4,195 shares in the last quarter. BB&T Corp raised its stake in The Cheesecake Factory by 29.9% in the first quarter. BB&T Corp now owns 55,433 shares of the restaurant operator’s stock worth $3,512,000 after buying an additional 12,747 shares in the last quarter. Oregon Public Employees Retirement Fund raised its stake in The Cheesecake Factory by 1.3% in the first quarter. Oregon Public Employees Retirement Fund now owns 15,631 shares of the restaurant operator’s stock worth $990,000 after buying an additional 200 shares in the last quarter. Wesbanco Bank Inc. bought a new stake in The Cheesecake Factory during the first quarter worth $206,000. Finally, Sawgrass Asset Management LLC raised its stake in The Cheesecake Factory by 48.8% in the first quarter. Sawgrass Asset Management LLC now owns 5,445 shares of the restaurant operator’s stock worth $345,000 after buying an additional 1,785 shares in the last quarter. 95.16% of the stock is currently owned by institutional investors and hedge funds.

The Cheesecake Factory Incorporated (CAKE) opened at 44.96 on Tuesday. The Cheesecake Factory Incorporated has a 52 week low of $44.02 and a 52 week high of $67.14. The company’s 50 day moving average is $48.48 and its 200-day moving average is $57.42. The firm has a market cap of $2.07 billion, a P/E ratio of 15.73 and a beta of 0.31.

The Cheesecake Factory (NASDAQ:CAKE) last released its quarterly earnings results on Wednesday, August 2nd. The restaurant operator reported $0.78 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.76 by $0.02. The Cheesecake Factory had a net margin of 6.10% and a return on equity of 22.92%. The firm had revenue of $569.87 million for the quarter, compared to the consensus estimate of $573.12 million. During the same quarter in the previous year, the firm posted $0.78 EPS. The firm’s quarterly revenue was up 2.0% on a year-over-year basis. Equities analysts expect that The Cheesecake Factory Incorporated will post $2.67 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 29th. Investors of record on Wednesday, August 16th will be paid a dividend of $0.29 per share. This is an increase from The Cheesecake Factory’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Monday, August 14th. This represents a $1.16 annualized dividend and a yield of 2.58%. The Cheesecake Factory’s payout ratio is 33.68%.

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A number of analysts have recently weighed in on the company. Zacks Investment Research raised The Cheesecake Factory from a “sell” rating to a “hold” rating in a research report on Tuesday, April 25th. Maxim Group reaffirmed a “hold” rating and set a $65.00 price objective (up previously from $59.00) on shares of The Cheesecake Factory in a research report on Monday, May 1st. Jefferies Group LLC raised The Cheesecake Factory from an “underperform” rating to a “hold” rating and set a $52.00 price objective on the stock in a research report on Tuesday, June 13th. They noted that the move was a valuation call. Robert W. Baird reaffirmed a “neutral” rating and set a $57.00 price objective (down previously from $60.00) on shares of The Cheesecake Factory in a research report on Wednesday, June 14th. Finally, Bank of America Corporation reaffirmed a “neutral” rating and set a $62.00 price objective (down previously from $67.00) on shares of The Cheesecake Factory in a research report on Wednesday, June 14th. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and five have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $54.78.

In other news, VP Debby R. Zurzolo sold 6,424 shares of the business’s stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $59.09, for a total value of $379,594.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 8.50% of the stock is currently owned by insiders.

The Cheesecake Factory Company Profile

The Cheesecake Factory Incorporated is engaged in the restaurant and bakery business. As of March 2, 2017, the Company operated 208 Company-owned restaurants: 194 under The Cheesecake Factory mark, 13 under the Grand Lux Cafe mark and one under the Rock Sugar Pan Asian Kitchen mark. The Company’s segments include The Cheesecake Factory restaurants, and other.

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Institutional Ownership by Quarter for The Cheesecake Factory (NASDAQ:CAKE)

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