Fisher Asset Management LLC Sells 307 Shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE)

Fisher Asset Management LLC trimmed its position in shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE) by 0.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 402,602 shares of the restaurant operator’s stock after selling 307 shares during the quarter. Fisher Asset Management LLC owned 0.79% of Cheesecake Factory worth $16,326,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Pathstone Holdings LLC boosted its position in shares of Cheesecake Factory by 0.9% during the third quarter. Pathstone Holdings LLC now owns 37,540 shares of the restaurant operator’s stock worth $1,522,000 after purchasing an additional 329 shares in the last quarter. Arizona State Retirement System boosted its position in shares of Cheesecake Factory by 2.5% during the second quarter. Arizona State Retirement System now owns 13,593 shares of the restaurant operator’s stock worth $534,000 after purchasing an additional 337 shares in the last quarter. Louisiana State Employees Retirement System boosted its position in shares of Cheesecake Factory by 2.2% during the second quarter. Louisiana State Employees Retirement System now owns 23,600 shares of the restaurant operator’s stock worth $927,000 after purchasing an additional 500 shares in the last quarter. Harbor Capital Advisors Inc. lifted its position in Cheesecake Factory by 2.4% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 23,110 shares of the restaurant operator’s stock valued at $937,000 after acquiring an additional 532 shares in the last quarter. Finally, Atria Investments Inc lifted its position in Cheesecake Factory by 8.2% in the 3rd quarter. Atria Investments Inc now owns 9,074 shares of the restaurant operator’s stock valued at $368,000 after acquiring an additional 689 shares in the last quarter. 94.48% of the stock is owned by institutional investors.

Insider Activity at Cheesecake Factory

In related news, insider Keith Carango sold 13,095 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $49.88, for a total value of $653,178.60. Following the transaction, the insider now owns 14,977 shares in the company, valued at approximately $747,052.76. This represents a 46.65 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 8.10% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Citigroup boosted their price objective on shares of Cheesecake Factory from $46.00 to $51.00 and gave the company a “buy” rating in a research report on Friday, October 4th. JPMorgan Chase & Co. cut their price objective on shares of Cheesecake Factory from $40.00 to $38.00 and set an “underweight” rating on the stock in a research report on Tuesday, August 6th. Wells Fargo & Company boosted their price objective on shares of Cheesecake Factory from $38.00 to $45.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. StockNews.com cut shares of Cheesecake Factory from a “buy” rating to a “hold” rating in a research report on Thursday. Finally, UBS Group boosted their price objective on shares of Cheesecake Factory from $32.00 to $36.00 and gave the company a “sell” rating in a research report on Friday, October 25th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $44.75.

Cheesecake Factory Stock Up 1.8 %

Cheesecake Factory stock opened at $49.74 on Thursday. The firm has a market capitalization of $2.54 billion, a PE ratio of 18.91, a P/E/G ratio of 1.34 and a beta of 1.47. The company’s 50-day moving average is $43.36 and its 200-day moving average is $40.09. The Cheesecake Factory Incorporated has a fifty-two week low of $30.96 and a fifty-two week high of $50.75. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.44 and a quick ratio of 0.33.

Cheesecake Factory (NASDAQ:CAKE) last released its quarterly earnings data on Tuesday, October 29th. The restaurant operator reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.11. The company had revenue of $865.50 million for the quarter, compared to analyst estimates of $866.13 million. Cheesecake Factory had a net margin of 3.63% and a return on equity of 43.90%. Cheesecake Factory’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.39 EPS. Sell-side analysts anticipate that The Cheesecake Factory Incorporated will post 3.3 earnings per share for the current year.

Cheesecake Factory Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 26th. Investors of record on Wednesday, November 13th were paid a $0.27 dividend. The ex-dividend date of this dividend was Wednesday, November 13th. This represents a $1.08 dividend on an annualized basis and a yield of 2.17%. Cheesecake Factory’s dividend payout ratio (DPR) is currently 41.06%.

About Cheesecake Factory

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.