State Treasurer State of Michigan decreased its stake in shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE) by 10.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 16,399 shares of the restaurant operator’s stock after selling 2,000 shares during the period. State Treasurer State of Michigan’s holdings in The Cheesecake Factory were worth $691,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. Alps Advisors Inc. increased its stake in The Cheesecake Factory by 0.3% during the 2nd quarter. Alps Advisors Inc. now owns 7,791 shares of the restaurant operator’s stock valued at $392,000 after buying an additional 20 shares during the period. Bank of Montreal Can increased its stake in The Cheesecake Factory by 0.5% during the 2nd quarter. Bank of Montreal Can now owns 5,152 shares of the restaurant operator’s stock valued at $259,000 after buying an additional 24 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in The Cheesecake Factory by 0.4% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 6,510 shares of the restaurant operator’s stock valued at $327,000 after buying an additional 26 shares during the period. Northwestern Mutual Investment Management Company LLC increased its stake in The Cheesecake Factory by 0.7% during the 2nd quarter. Northwestern Mutual Investment Management Company LLC now owns 7,704 shares of the restaurant operator’s stock valued at $371,000 after buying an additional 55 shares during the period. Finally, PNC Financial Services Group Inc. grew its stake in shares of The Cheesecake Factory by 3.3% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,420 shares of the restaurant operator’s stock worth $218,000 after purchasing an additional 109 shares during the last quarter. 97.76% of the stock is currently owned by hedge funds and other institutional investors.

CAKE has been the topic of several recent research reports. Maxim Group reaffirmed a “buy” rating and issued a $57.00 price objective (down previously from $65.00) on shares of The Cheesecake Factory in a research note on Wednesday, August 9th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $49.00 price objective on shares of The Cheesecake Factory in a research note on Thursday, August 3rd. BTIG Research reaffirmed a “buy” rating and issued a $50.00 price objective on shares of The Cheesecake Factory in a research note on Wednesday, September 20th. TheStreet cut shares of The Cheesecake Factory from a “b-” rating to a “c+” rating in a research note on Friday, August 25th. Finally, Barclays PLC reaffirmed an “equal weight” rating and issued a $48.00 price objective (down previously from $53.00) on shares of The Cheesecake Factory in a research note on Thursday, August 3rd. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have issued a buy rating to the company. The Cheesecake Factory has a consensus rating of “Hold” and an average price target of $49.24.

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In other news, Director Herbert Simon purchased 25,000 shares of the company’s stock in a transaction dated Monday, November 6th. The shares were bought at an average price of $43.50 per share, with a total value of $1,087,500.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last three months, insiders bought 25,730 shares of company stock worth $1,119,535. Insiders own 8.40% of the company’s stock.

Shares of The Cheesecake Factory Incorporated (NASDAQ CAKE) opened at $44.31 on Friday. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.51 and a quick ratio of 0.52. The stock has a market cap of $2,028.75, a P/E ratio of 16.23, a price-to-earnings-growth ratio of 1.18 and a beta of 0.29. The Cheesecake Factory Incorporated has a one year low of $38.34 and a one year high of $67.14.

The Cheesecake Factory (NASDAQ:CAKE) last posted its earnings results on Wednesday, November 1st. The restaurant operator reported $0.56 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.60 by ($0.04). The business had revenue of $555.40 million during the quarter, compared to analyst estimates of $566.09 million. The Cheesecake Factory had a net margin of 5.76% and a return on equity of 21.65%. The Cheesecake Factory’s revenue was down .8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.70 earnings per share. equities research analysts predict that The Cheesecake Factory Incorporated will post 2.61 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 28th. Stockholders of record on Wednesday, November 15th will be given a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 2.62%. The ex-dividend date is Tuesday, November 14th. The Cheesecake Factory’s dividend payout ratio is 42.80%.

About The Cheesecake Factory

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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