Arcadia Investment Management Corp MI cut its stake in The Cheesecake Factory Incorporated (NASDAQ:CAKE) by 20.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,550 shares of the restaurant operator’s stock after selling 7,474 shares during the period. Arcadia Investment Management Corp MI owned about 0.06% of The Cheesecake Factory worth $1,436,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in the company. BlackRock Inc. raised its stake in The Cheesecake Factory by 21,381.3% in the first quarter. BlackRock Inc. now owns 4,842,308 shares of the restaurant operator’s stock valued at $306,812,000 after buying an additional 4,819,766 shares in the last quarter. Vanguard Group Inc. increased its position in shares of The Cheesecake Factory by 5.5% in the first quarter. Vanguard Group Inc. now owns 4,025,161 shares of the restaurant operator’s stock valued at $255,034,000 after buying an additional 210,618 shares during the last quarter. Neuberger Berman Group LLC increased its position in shares of The Cheesecake Factory by 15.7% in the first quarter. Neuberger Berman Group LLC now owns 2,141,608 shares of the restaurant operator’s stock valued at $135,692,000 after buying an additional 291,097 shares during the last quarter. Wellington Management Group LLP increased its position in shares of The Cheesecake Factory by 3.9% in the first quarter. Wellington Management Group LLP now owns 1,846,350 shares of the restaurant operator’s stock valued at $116,985,000 after buying an additional 69,832 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of The Cheesecake Factory by 2.1% in the first quarter. Bank of New York Mellon Corp now owns 1,693,864 shares of the restaurant operator’s stock valued at $107,324,000 after buying an additional 34,923 shares during the last quarter. Institutional investors and hedge funds own 95.16% of the company’s stock.

The Cheesecake Factory Incorporated (NASDAQ CAKE) opened at 44.68 on Tuesday. The Cheesecake Factory Incorporated has a 1-year low of $44.02 and a 1-year high of $67.14. The stock’s 50 day moving average is $48.48 and its 200-day moving average is $57.42. The firm has a market cap of $2.06 billion, a P/E ratio of 15.63 and a beta of 0.31.

The Cheesecake Factory (NASDAQ:CAKE) last announced its quarterly earnings data on Wednesday, August 2nd. The restaurant operator reported $0.78 EPS for the quarter, topping the Zacks’ consensus estimate of $0.76 by $0.02. The Cheesecake Factory had a return on equity of 22.92% and a net margin of 6.10%. The firm had revenue of $569.87 million during the quarter, compared to analyst estimates of $573.12 million. During the same period last year, the company posted $0.78 EPS. The business’s quarterly revenue was up 2.0% compared to the same quarter last year. Analysts forecast that The Cheesecake Factory Incorporated will post $2.67 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 29th. Shareholders of record on Wednesday, August 16th will be given a dividend of $0.29 per share. The ex-dividend date 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 dividend on an annualized basis and a yield of 2.58%. The Cheesecake Factory’s dividend payout ratio (DPR) is presently 33.68%.

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CAKE has been the subject of several analyst reports. BidaskClub downgraded shares of The Cheesecake Factory from a “sell” rating to a “strong sell” rating in a research note on Thursday, July 27th. Robert W. Baird reissued a “neutral” rating and issued a $57.00 target price (down previously from $60.00) on shares of The Cheesecake Factory in a research note on Wednesday, June 14th. Jefferies Group LLC raised 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. Bank of America Corporation reissued a “neutral” rating and issued a $62.00 target price (down previously from $67.00) on shares of The Cheesecake Factory in a research note on Wednesday, June 14th. Finally, Nomura cut their target price on shares of The Cheesecake Factory from $50.00 to $44.00 and set a “neutral” rating for the company in a research note on Thursday, August 3rd. Three analysts have rated the stock with a sell rating, twelve have given a hold rating and five have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $54.78.

In other The Cheesecake Factory news, VP Debby R. Zurzolo sold 6,000 shares of the firm’s stock in a transaction dated Thursday, May 25th. The stock was sold at an average price of $59.15, for a total transaction of $354,900.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 8.50% of the company’s stock.

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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