The Cheesecake Factory Incorporated (NASDAQ:CAKE) Stake Increased by Texas Permanent School Fund

Texas Permanent School Fund increased its stake in The Cheesecake Factory Incorporated (NASDAQ:CAKEGet Rating) by 2.9% in the second quarter, Holdings Channel reports. The institutional investor owned 35,406 shares of the restaurant operator’s stock after acquiring an additional 1,010 shares during the quarter. Texas Permanent School Fund’s holdings in Cheesecake Factory were worth $935,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. increased its stake in shares of Cheesecake Factory by 2.0% in the first quarter. Vanguard Group Inc. now owns 5,387,902 shares of the restaurant operator’s stock worth $214,385,000 after buying an additional 107,399 shares during the last quarter. Frontier Capital Management Co. LLC boosted its holdings in Cheesecake Factory by 20.7% in the second quarter. Frontier Capital Management Co. LLC now owns 2,192,835 shares of the restaurant operator’s stock worth $57,935,000 after purchasing an additional 376,046 shares during the period. State Street Corp boosted its holdings in Cheesecake Factory by 4.0% in the first quarter. State Street Corp now owns 1,721,492 shares of the restaurant operator’s stock worth $68,498,000 after purchasing an additional 65,774 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Cheesecake Factory by 4.3% in the first quarter. Dimensional Fund Advisors LP now owns 1,044,691 shares of the restaurant operator’s stock worth $41,565,000 after purchasing an additional 42,901 shares during the period. Finally, William Blair Investment Management LLC boosted its holdings in Cheesecake Factory by 2.2% in the first quarter. William Blair Investment Management LLC now owns 586,964 shares of the restaurant operator’s stock worth $23,355,000 after purchasing an additional 12,679 shares during the period. Institutional investors own 84.62% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Wedbush decreased their price objective on shares of Cheesecake Factory from $38.00 to $37.00 and set an “outperform” rating for the company in a report on Friday, October 28th. StockNews.com assumed coverage on shares of Cheesecake Factory in a report on Wednesday, October 12th. They issued a “hold” rating for the company. Stephens assumed coverage on shares of Cheesecake Factory in a report on Thursday, September 22nd. They issued an “overweight” rating and a $38.00 price objective for the company. UBS Group decreased their price objective on shares of Cheesecake Factory from $42.00 to $30.00 and set a “neutral” rating for the company in a report on Tuesday, July 26th. Finally, Citigroup boosted their price target on shares of Cheesecake Factory from $36.00 to $39.00 and gave the company a “buy” rating in a report on Wednesday, November 2nd. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $35.00.

Cheesecake Factory Stock Performance

Shares of CAKE opened at $36.52 on Friday. The company has a market cap of $1.88 billion, a price-to-earnings ratio of 38.85, a price-to-earnings-growth ratio of 2.60 and a beta of 1.39. The firm has a fifty day moving average of $32.79 and a 200-day moving average of $31.28. The Cheesecake Factory Incorporated has a 1 year low of $26.05 and a 1 year high of $44.65. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.42 and a current ratio of 0.52.

Cheesecake Factory Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 28th. Investors of record on Tuesday, November 15th will be issued a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 2.96%. The ex-dividend date is Monday, November 14th. Cheesecake Factory’s payout ratio is currently 114.89%.

Cheesecake Factory Profile

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The Cheesecake Factory Incorporated operates restaurants. It operates two bakeries that produces cheesecakes and other baked products for its restaurants, international licensees, third-party bakery customers, external foodservice operators, retailers, and distributors. The company owns and operates 306 restaurants throughout the United States and Canada under brands, including 208 The Cheesecake Factory and 29 North Italia; and a collection of Fox Restaurant Concepts, as well as 29 The Cheesecake Factory restaurants under licensing agreements internationally.

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

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