Schwab Charles Investment Management Inc. increased its holdings in shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE) by 3.7% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 304,130 shares of the restaurant operator’s stock after purchasing an additional 10,866 shares during the period. Schwab Charles Investment Management Inc. owned 0.66% of The Cheesecake Factory worth $15,298,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of The Cheesecake Factory by 32.2% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,621 shares of the restaurant operator’s stock valued at $103,000 after purchasing an additional 395 shares in the last quarter. Parallel Advisors LLC boosted its stake in The Cheesecake Factory by 13.5% in the first quarter. Parallel Advisors LLC now owns 1,974 shares of the restaurant operator’s stock valued at $132,000 after acquiring an additional 235 shares in the last quarter. LS Investment Advisors LLC boosted its stake in The Cheesecake Factory by 17.0% in the second quarter. LS Investment Advisors LLC now owns 4,231 shares of the restaurant operator’s stock valued at $213,000 after acquiring an additional 615 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in The Cheesecake Factory by 3.3% in the first quarter. PNC Financial Services Group Inc. now owns 3,420 shares of the restaurant operator’s stock valued at $218,000 after acquiring an additional 109 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. acquired a new stake in The Cheesecake Factory in the first quarter valued at approximately $254,000. Hedge funds and other institutional investors own 96.22% of the company’s stock.

The Cheesecake Factory Incorporated (NASDAQ CAKE) opened at 41.60 on Tuesday. The stock has a market cap of $1.91 billion, a PE ratio of 14.55 and a beta of 0.34. The Cheesecake Factory Incorporated has a 12-month low of $38.34 and a 12-month high of $67.14. The firm has a 50 day moving average of $42.34 and a 200-day moving average of $53.85.

The Cheesecake Factory (NASDAQ:CAKE) last issued its earnings results on Wednesday, August 2nd. The restaurant operator reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.02. The Cheesecake Factory had a net margin of 6.10% and a return on equity of 22.92%. The business had revenue of $569.87 million during the quarter, compared to analysts’ expectations of $573.12 million. During the same quarter in the prior year, the business posted $0.78 EPS. The company’s revenue for the quarter was up 2.0% on a year-over-year basis. On average, analysts expect that The Cheesecake Factory Incorporated will post $2.66 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 29th. Stockholders of record on Wednesday, August 16th were issued a $0.29 dividend. This is a boost from The Cheesecake Factory’s previous quarterly dividend of $0.24. The ex-dividend date was Monday, August 14th. This represents a $1.16 annualized dividend and a dividend yield of 2.79%. The Cheesecake Factory’s dividend payout ratio is presently 40.70%.

Several brokerages have weighed in on CAKE. Jefferies Group LLC upgraded shares of The Cheesecake Factory from an “underperform” rating to a “hold” rating and set a $52.00 target price for the company in a research note on Tuesday, June 13th. They noted that the move was a valuation call. Robert W. Baird restated a “neutral” rating and issued a $57.00 target price (down from $60.00) on shares of The Cheesecake Factory in a research note on Wednesday, June 14th. Morgan Stanley restated an “equal weight” rating and issued a $56.00 target price (down from $62.00) on shares of The Cheesecake Factory in a research note on Wednesday, June 14th. Bank of America Corporation restated a “neutral” rating and issued a $62.00 target price (down from $67.00) on shares of The Cheesecake Factory in a research note on Wednesday, June 14th. Finally, Argus downgraded shares of The Cheesecake Factory from a “buy” rating to a “hold” rating in a research note on Tuesday, June 20th. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $53.44.

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About The Cheesecake Factory

The Cheesecake Factory Incorporated is engaged in the restaurant and bakery business. As of March 2, 2017, the Company operated 208 Company-owned restaurants: 194 under The Cheesecake Factory mark, 13 under the Grand Lux Cafe mark and one under the Rock Sugar Pan Asian Kitchen mark. The Company’s segments include The Cheesecake Factory restaurants, and other.

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

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