Maryland State Retirement & Pension System Sells 311 Shares of The Cheesecake Factory Incorporated $CAKE

Maryland State Retirement & Pension System lowered its stake in shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE) by 2.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,391 shares of the restaurant operator’s stock after selling 311 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Cheesecake Factory were worth $839,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently added to or reduced their stakes in the company. Principal Financial Group Inc. boosted its position in Cheesecake Factory by 2.2% during the first quarter. Principal Financial Group Inc. now owns 274,877 shares of the restaurant operator’s stock valued at $13,376,000 after purchasing an additional 6,047 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new stake in Cheesecake Factory during the first quarter valued at about $5,559,000. Foundry Partners LLC bought a new stake in Cheesecake Factory during the first quarter valued at about $299,000. Informed Momentum Co LLC bought a new stake in Cheesecake Factory during the first quarter valued at about $3,023,000. Finally, Maverick Capital Ltd. boosted its position in Cheesecake Factory by 217.4% during the first quarter. Maverick Capital Ltd. now owns 27,894 shares of the restaurant operator’s stock valued at $1,357,000 after purchasing an additional 19,105 shares in the last quarter. Institutional investors own 94.48% of the company’s stock.

Cheesecake Factory Trading Down 2.9%

Shares of NASDAQ:CAKE opened at $52.08 on Monday. The Cheesecake Factory Incorporated has a 52-week low of $38.47 and a 52-week high of $69.70. The stock has a market cap of $2.59 billion, a price-to-earnings ratio of 16.02, a PEG ratio of 1.24 and a beta of 1.06. 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 business has a 50-day moving average price of $58.66 and a 200-day moving average price of $56.81.

Cheesecake Factory (NASDAQ:CAKE) last announced 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. Cheesecake Factory had a return on equity of 45.92% and a net margin of 4.33%.The firm had revenue of $955.83 million during the quarter, compared to analysts’ expectations of $945.82 million. During the same period last year, the business posted $1.09 earnings per share. The company’s revenue for the quarter was up 5.7% compared to the same quarter last year. Equities analysts predict that The Cheesecake Factory Incorporated will post 3.71 EPS for the current year.

Wall Street Analyst Weigh In

CAKE has been the subject of a number of research analyst reports. Piper Sandler increased their price target on Cheesecake Factory from $54.00 to $62.00 and gave the company a “neutral” rating in a research note on Monday, August 4th. Weiss Ratings reiterated a “buy (b)” rating on shares of Cheesecake Factory in a research note on Wednesday, October 8th. Raymond James Financial increased their price target on Cheesecake Factory from $70.00 to $73.00 and gave the company an “outperform” rating in a research note on Friday, August 15th. Bank of America increased their price target on Cheesecake Factory from $61.00 to $67.00 and gave the company a “neutral” rating in a research note on Friday, July 18th. Finally, Wells Fargo & Company increased their price target on Cheesecake Factory from $60.00 to $65.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 30th. Eight equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat.com, Cheesecake Factory currently has a consensus rating of “Hold” and a consensus price target of $61.94.

Insider Activity

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

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.