BlackRock Inc. raised its stake in The Cheesecake Factory Incorporated (NASDAQ:CAKE) by 21,381.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,842,308 shares of the restaurant operator’s stock after buying an additional 4,819,766 shares during the period. BlackRock Inc. owned approximately 10.57% of The Cheesecake Factory worth $306,812,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the company. Waratah Capital Advisors Ltd. bought a new position in shares of The Cheesecake Factory during the first quarter worth approximately $4,628,000. Nordea Investment Management AB raised its stake in The Cheesecake Factory by 15.5% in the first quarter. Nordea Investment Management AB now owns 25,505 shares of the restaurant operator’s stock worth $1,616,000 after buying an additional 3,419 shares during the period. Louisiana State Employees Retirement System raised its stake in The Cheesecake Factory by 2.8% in the first quarter. Louisiana State Employees Retirement System now owns 11,200 shares of the restaurant operator’s stock worth $710,000 after buying an additional 300 shares during the period. Mutual of America Capital Management LLC raised its stake in The Cheesecake Factory by 3.9% in the first quarter. Mutual of America Capital Management LLC now owns 35,790 shares of the restaurant operator’s stock worth $2,268,000 after buying an additional 1,336 shares during the period. Finally, Marshall Wace North America L.P. purchased a new stake in shares of The Cheesecake Factory during the first quarter worth approximately $1,644,000. 96.93% of the stock is owned by hedge funds and other institutional investors.

The Cheesecake Factory Incorporated (NASDAQ:CAKE) traded down 6.24% during trading on Thursday, reaching $44.19. The company’s stock had a trading volume of 3,408,954 shares. The Cheesecake Factory Incorporated has a one year low of $44.12 and a one year high of $67.14. The company has a 50-day moving average of $50.13 and a 200 day moving average of $58.36. The firm has a market cap of $2.12 billion, a PE ratio of 15.45 and a beta of 0.32.

The Cheesecake Factory (NASDAQ:CAKE) last posted its quarterly earnings results on Wednesday, August 2nd. The restaurant operator reported $0.78 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.76 by $0.02. The Cheesecake Factory had a return on equity of 23.35% and a net margin of 6.15%. The business had revenue of $569.87 million for the quarter, compared to analyst estimates of $573.12 million. During the same period in the prior year, the company posted $0.78 EPS. The business’s revenue was up 2.0% compared to the same quarter last year. Analysts expect that The Cheesecake Factory Incorporated will post $2.82 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 29th. Shareholders of record on Wednesday, August 16th will be given a $0.29 dividend. The ex-dividend date of this dividend is Monday, August 14th. This is a positive change from The Cheesecake Factory’s previous quarterly dividend of $0.24. This represents a $1.16 annualized dividend and a yield of 2.63%. The Cheesecake Factory’s dividend payout ratio (DPR) is currently 33.68%.

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A number of brokerages have commented on CAKE. Barclays PLC reiterated an “equal weight” rating and issued a $48.00 price objective (down previously from $53.00) on shares of The Cheesecake Factory in a research report on Thursday. Nomura cut their target price on The Cheesecake Factory from $50.00 to $44.00 and set a “neutral” rating for the company in a research report on Thursday. Piper Jaffray Companies restated a “buy” rating and set a $49.00 target price on shares of The Cheesecake Factory in a research report on Thursday. Maxim Group restated a “buy” rating and set a $57.00 target price (down previously from $65.00) on shares of The Cheesecake Factory in a research report on Thursday. Finally, BidaskClub downgraded The Cheesecake Factory from a “sell” rating to a “strong sell” rating in a research report on Thursday, July 27th. Three analysts have rated the stock with a sell rating, twelve have given a hold rating and five have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $56.00.

In other news, VP Debby R. Zurzolo sold 6,000 shares of the stock in a transaction on Thursday, May 25th. The stock was sold at an average price of $59.15, for a total value of $354,900.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 8.50% of the stock is owned by company insiders.

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.

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

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