Oregon Public Employees Retirement Fund increased its holdings in Cheesecake Factory Inc (NASDAQ:CAKE) by 109.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 32,176 shares of the restaurant operator’s stock after acquiring an additional 16,800 shares during the period. Oregon Public Employees Retirement Fund owned about 0.07% of Cheesecake Factory worth $737,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in the company. New York State Teachers Retirement System grew its holdings in shares of Cheesecake Factory by 18.1% in the second quarter. New York State Teachers Retirement System now owns 108,146 shares of the restaurant operator’s stock valued at $2,479,000 after acquiring an additional 16,544 shares in the last quarter. BBVA USA Bancshares Inc. lifted its stake in Cheesecake Factory by 16.9% in the second quarter. BBVA USA Bancshares Inc. now owns 34,145 shares of the restaurant operator’s stock valued at $783,000 after purchasing an additional 4,928 shares during the last quarter. SG Americas Securities LLC lifted its stake in Cheesecake Factory by 191.5% in the second quarter. SG Americas Securities LLC now owns 81,098 shares of the restaurant operator’s stock valued at $1,859,000 after purchasing an additional 53,275 shares during the last quarter. Parallel Advisors LLC purchased a new position in Cheesecake Factory in the second quarter valued at approximately $48,000. Finally, Louisiana State Employees Retirement System purchased a new position in Cheesecake Factory in the second quarter valued at approximately $261,000. 90.92% of the stock is owned by institutional investors.
Several equities analysts recently commented on CAKE shares. ValuEngine upgraded Cheesecake Factory from a “hold” rating to a “buy” rating in a research note on Thursday, June 4th. Oppenheimer restated a “hold” rating on shares of Cheesecake Factory in a research report on Thursday. Deutsche Bank restated a “hold” rating and set a $26.00 target price on shares of Cheesecake Factory in a research report on Monday, April 20th. JPMorgan Chase & Co. downgraded Cheesecake Factory from a “neutral” rating to an “underweight” rating and set a $23.00 target price on the stock. in a research report on Wednesday, June 24th. Finally, Wells Fargo & Co increased their target price on Cheesecake Factory from $26.00 to $31.00 and gave the stock an “overweight” rating in a research report on Friday, June 5th. Four investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have issued a buy rating to the stock. Cheesecake Factory has a consensus rating of “Hold” and an average target price of $27.11.
Cheesecake Factory (NASDAQ:CAKE) last released its earnings results on Wednesday, July 29th. The restaurant operator reported ($0.87) EPS for the quarter, beating the Zacks’ consensus estimate of ($1.07) by $0.20. The business had revenue of $295.85 million for the quarter, compared to analysts’ expectations of $309.57 million. Cheesecake Factory had a return on equity of 1.43% and a net margin of 0.20%. The firm’s revenue was down 50.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.82 earnings per share. As a group, equities analysts anticipate that Cheesecake Factory Inc will post -1.72 earnings per share for the current year.
About Cheesecake Factory
The Cheesecake Factory Incorporated engages in the operation of restaurants. The company produces cheesecakes and other baked products for own restaurants and international licensees, as well as external foodservice operators, retailers, and distributors. As of April 16, 2019, it owned and operated 219 full-service casual-dining restaurants in the United States, including Puerto Rico and Canada comprising 202 restaurants under The Cheesecake Factory name; 14 restaurants under the Grand Lux Café name; and 2 restaurants under the RockSugar Southeast Asian Kitchen name, as well as 22 The Cheesecake Factory restaurants under licensing agreements internationally.
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