New York State Teachers Retirement System Sells 369 Shares of The Cheesecake Factory Incorporated $CAKE

New York State Teachers Retirement System lowered its position in shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE) by 0.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 76,791 shares of the restaurant operator’s stock after selling 369 shares during the period. New York State Teachers Retirement System owned 0.16% of Cheesecake Factory worth $4,812,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC increased its stake in shares of Cheesecake Factory by 32.1% during the second quarter. Allspring Global Investments Holdings LLC now owns 144,353 shares of the restaurant operator’s stock worth $9,195,000 after purchasing an additional 35,058 shares during the period. Vanguard Personalized Indexing Management LLC bought a new position in shares of Cheesecake Factory during the second quarter worth approximately $246,000. IFP Advisors Inc increased its stake in shares of Cheesecake Factory by 392,466.7% during the second quarter. IFP Advisors Inc now owns 11,777 shares of the restaurant operator’s stock worth $743,000 after purchasing an additional 11,774 shares during the period. Callan Family Office LLC bought a new position in Cheesecake Factory during the 2nd quarter worth $637,000. Finally, Blair William & Co. IL increased its stake in Cheesecake Factory by 105.7% during the 2nd quarter. Blair William & Co. IL now owns 10,639 shares of the restaurant operator’s stock worth $667,000 after acquiring an additional 5,466 shares during the period. Institutional investors own 94.48% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on CAKE shares. Raymond James Financial restated an “outperform” rating and set a $70.00 price objective (down previously from $73.00) on shares of Cheesecake Factory in a research note on Thursday, October 16th. Barclays raised their price objective on Cheesecake Factory from $57.00 to $62.00 and gave the stock an “underweight” rating in a research note on Wednesday, July 30th. Citigroup lowered their price objective on Cheesecake Factory from $75.00 to $68.00 and set a “buy” rating on the stock in a research note on Tuesday, October 14th. Robert W. Baird set a $64.00 price objective on Cheesecake Factory and gave the stock a “neutral” rating in a research note on Wednesday, July 30th. Finally, Bank of America raised their price objective on Cheesecake Factory from $61.00 to $67.00 and gave the stock a “neutral” rating in a research note on Friday, July 18th. Eight investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $62.44.

Insiders Place Their Bets

In related news, President David M. Gordon sold 43,335 shares of the business’s stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $63.06, for a total transaction of $2,732,705.10. Following the sale, the president owned 24,532 shares in the company, valued at $1,546,987.92. The trade was a 63.85% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Alexander L. Cappello sold 12,388 shares of Cheesecake Factory stock in a transaction dated Thursday, July 31st. The stock was sold at an average price of $65.88, for a total value of $816,121.44. Following the transaction, the director directly owned 6,806 shares in the company, valued at $448,379.28. The trade was a 64.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 8.10% of the company’s stock.

Cheesecake Factory Trading Up 0.8%

Shares of CAKE stock opened at $54.40 on Tuesday. The firm has a market capitalization of $2.71 billion, a P/E ratio of 16.74, a P/E/G ratio of 1.28 and a beta of 1.06. The Cheesecake Factory Incorporated has a twelve month low of $40.72 and a twelve month high of $69.70. The company has a quick ratio of 0.42, a current ratio of 0.51 and a debt-to-equity ratio of 1.40. The stock’s fifty day simple moving average is $57.75 and its 200 day simple moving average is $57.04.

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

Cheesecake Factory Company Profile

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.