The Cheesecake Factory Incorporated (NASDAQ:CAKE) Stock Position Reduced by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC lessened its stake in The Cheesecake Factory Incorporated (NASDAQ:CAKE) by 3.9% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 6,838 shares of the restaurant operator’s stock after selling 275 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Cheesecake Factory were worth $333,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Westwood Holdings Group Inc. purchased a new position in shares of Cheesecake Factory during the 1st quarter valued at $75,795,000. Wellington Management Group LLP purchased a new stake in shares of Cheesecake Factory during the fourth quarter worth $56,288,000. Victory Capital Management Inc. boosted its position in Cheesecake Factory by 64.1% during the first quarter. Victory Capital Management Inc. now owns 1,766,131 shares of the restaurant operator’s stock valued at $85,940,000 after purchasing an additional 689,784 shares during the last quarter. Junto Capital Management LP purchased a new position in Cheesecake Factory in the fourth quarter valued at about $21,827,000. Finally, JCP Investment Management LLC increased its position in Cheesecake Factory by 181.3% in the 4th quarter. JCP Investment Management LLC now owns 667,210 shares of the restaurant operator’s stock worth $31,652,000 after purchasing an additional 430,000 shares during the last quarter. Hedge funds and other institutional investors own 94.48% of the company’s stock.

Insider Buying and Selling at Cheesecake Factory

In related news, EVP Scarlett May sold 18,800 shares of the company’s stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $58.82, for a total value of $1,105,816.00. Following the sale, the executive vice president owned 22,872 shares of the company’s stock, valued at $1,345,331.04. The trade was a 45.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Matthew Eliot Clark sold 42,900 shares of the stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $56.00, for a total transaction of $2,402,400.00. Following the completion of the transaction, the chief financial officer directly owned 40,878 shares of the company’s stock, valued at $2,289,168. This trade represents a 51.21% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 145,388 shares of company stock worth $8,273,113. Corporate insiders own 8.10% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Morgan Stanley raised their price target on Cheesecake Factory from $45.00 to $47.00 and gave the stock an “underweight” rating in a research note on Thursday, July 31st. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $67.00 price objective (up previously from $66.00) on shares of Cheesecake Factory in a research report on Thursday, July 10th. Barclays boosted their target price on shares of Cheesecake Factory from $57.00 to $62.00 and gave the stock an “underweight” rating in a research report on Wednesday, July 30th. Oppenheimer raised their price target on shares of Cheesecake Factory from $65.00 to $75.00 and gave the company an “outperform” rating in a report on Friday, July 11th. Finally, Argus set a $60.00 price objective on shares of Cheesecake Factory in a report on Wednesday, May 14th. Four research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $61.75.

Cheesecake Factory Trading Up 1.3%

Shares of Cheesecake Factory stock opened at $62.36 on Wednesday. The Cheesecake Factory Incorporated has a 1 year low of $35.12 and a 1 year high of $69.70. The company’s fifty day simple moving average is $62.01 and its 200-day simple moving average is $54.89. The company has a market cap of $3.11 billion, a price-to-earnings ratio of 19.19, a PEG ratio of 1.47 and a beta of 1.17. The company has a current ratio of 0.51, a quick ratio of 0.42 and a debt-to-equity ratio of 1.40.

Cheesecake Factory (NASDAQ:CAKE) last posted its quarterly earnings data on Tuesday, July 29th. The restaurant operator reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.10. The company had revenue of $955.83 million for the quarter, compared to the consensus estimate of $945.82 million. Cheesecake Factory had a net margin of 4.33% and a return on equity of 45.92%. The business’s revenue was up 5.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.09 EPS. As a group, sell-side analysts expect that The Cheesecake Factory Incorporated will post 3.71 EPS for the current year.

Cheesecake Factory Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 26th. Shareholders of record on Tuesday, August 12th will be issued a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Tuesday, August 12th. Cheesecake Factory’s payout ratio is 33.23%.

About Cheesecake Factory

The Cheesecake Factory Incorporated operates and licenses restaurants in the United States and Canada. The company operates bakeries that produce cheesecakes and other baked products for its restaurants, international licensees, third-party bakery customers, external foodservice operators, retailers, and distributors.