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

Fisher Asset Management LLC lowered its holdings in The Cheesecake Factory Incorporated (NASDAQ:CAKE) by 0.1% in the third quarter, HoldingsChannel.com reports. The firm owned 402,602 shares of the restaurant operator’s stock after selling 307 shares during the quarter. Fisher Asset Management LLC’s holdings in Cheesecake Factory were worth $16,326,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the business. Pathstone Holdings LLC boosted its holdings in Cheesecake Factory by 0.9% in the 3rd quarter. Pathstone Holdings LLC now owns 37,540 shares of the restaurant operator’s stock valued at $1,522,000 after purchasing an additional 329 shares during the period. Arizona State Retirement System boosted its holdings in Cheesecake Factory by 2.5% in the 2nd quarter. Arizona State Retirement System now owns 13,593 shares of the restaurant operator’s stock valued at $534,000 after purchasing an additional 337 shares during the period. Louisiana State Employees Retirement System boosted its holdings in Cheesecake Factory by 2.2% in the 2nd quarter. Louisiana State Employees Retirement System now owns 23,600 shares of the restaurant operator’s stock valued at $927,000 after purchasing an additional 500 shares during the period. Harbor Capital Advisors Inc. boosted its holdings 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 purchasing an additional 532 shares during the period. Finally, Atria Investments Inc boosted its holdings 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 purchasing an additional 689 shares during the period. Institutional investors own 94.48% of the company’s stock.

Cheesecake Factory Trading Up 1.8 %

CAKE opened at $49.74 on Thursday. The Cheesecake Factory Incorporated has a twelve month low of $30.96 and a twelve month high of $50.75. The company has a quick ratio of 0.33, a current ratio of 0.44 and a debt-to-equity ratio of 1.19. The company has a fifty day moving average of $43.36 and a 200-day moving average of $40.09. The stock has a market cap of $2.54 billion, a PE ratio of 18.91, a price-to-earnings-growth ratio of 1.34 and a beta of 1.47.

Cheesecake Factory (NASDAQ:CAKE) last posted 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. Cheesecake Factory had a net margin of 3.63% and a return on equity of 43.90%. The company had revenue of $865.50 million during the quarter, compared to analysts’ expectations of $866.13 million. During the same period in the prior year, the company posted $0.39 earnings per share. Cheesecake Factory’s revenue for the quarter was up 4.3% compared to the same quarter last year. On average, sell-side analysts predict that The Cheesecake Factory Incorporated will post 3.3 EPS for the current year.

Cheesecake Factory Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 26th. Stockholders of record on Wednesday, November 13th were given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 2.17%. The ex-dividend date was Wednesday, November 13th. Cheesecake Factory’s dividend payout ratio (DPR) is presently 41.06%.

Wall Street Analysts Forecast Growth

CAKE has been the subject of a number of recent analyst reports. Wells Fargo & Company upped their price target on shares of Cheesecake Factory from $38.00 to $45.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Bank of America upped their price target on shares of Cheesecake Factory from $47.00 to $49.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. UBS Group upped their price target on shares of Cheesecake Factory from $32.00 to $36.00 and gave the stock a “sell” rating in a report on Friday, October 25th. Barclays upped their price objective on shares of Cheesecake Factory from $38.00 to $44.00 and gave the stock an “underweight” rating in a research report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Cheesecake Factory from $40.00 to $38.00 and set an “underweight” rating for the company in a research report on Tuesday, August 6th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $44.75.

Insider Buying and Selling

In other Cheesecake Factory news, insider Keith Carango sold 13,095 shares of the firm’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $49.88, for a total value of $653,178.60. Following the completion of the sale, the insider now directly owns 14,977 shares in the company, valued at approximately $747,052.76. This trade represents a 46.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 8.10% of the stock is owned by insiders.

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.