Fisher Asset Management LLC Has $19.54 Million Stake in The Cheesecake Factory Incorporated (NASDAQ:CAKE)

Fisher Asset Management LLC grew its stake in The Cheesecake Factory Incorporated (NASDAQ:CAKE - Free Report) by 2.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 411,854 shares of the restaurant operator's stock after purchasing an additional 9,252 shares during the period. Fisher Asset Management LLC owned about 0.81% of Cheesecake Factory worth $19,538,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. Hennessy Advisors Inc. bought a new position in Cheesecake Factory during the fourth quarter valued at about $63,114,000. Victory Capital Management Inc. increased its position in shares of Cheesecake Factory by 32.7% during the third quarter. Victory Capital Management Inc. now owns 403,271 shares of the restaurant operator's stock valued at $16,353,000 after purchasing an additional 99,341 shares during the period. State Street Corp increased its position in shares of Cheesecake Factory by 3.7% during the third quarter. State Street Corp now owns 1,876,295 shares of the restaurant operator's stock valued at $76,084,000 after purchasing an additional 67,550 shares during the period. Fred Alger Management LLC raised its stake in shares of Cheesecake Factory by 159.6% in the third quarter. Fred Alger Management LLC now owns 97,765 shares of the restaurant operator's stock valued at $3,964,000 after purchasing an additional 60,100 shares in the last quarter. Finally, Proficio Capital Partners LLC bought a new position in Cheesecake Factory in the fourth quarter worth $2,356,000. Institutional investors and hedge funds own 94.48% of the company's stock.

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Analysts Set New Price Targets

A number of brokerages have recently issued reports on CAKE. Robert W. Baird increased their price objective on shares of Cheesecake Factory from $52.00 to $57.00 and gave the company a "neutral" rating in a research note on Thursday, February 20th. Morgan Stanley raised their price target on shares of Cheesecake Factory from $37.00 to $40.00 and gave the stock an "underweight" rating in a research note on Thursday, February 20th. UBS Group upped their price objective on Cheesecake Factory from $41.00 to $45.00 and gave the company a "sell" rating in a research note on Thursday, February 20th. Wedbush raised their target price on Cheesecake Factory from $59.00 to $61.00 and gave the stock an "outperform" rating in a research report on Thursday, February 20th. Finally, Jefferies Financial Group upped their price target on Cheesecake Factory from $49.00 to $58.00 and gave the company a "buy" rating in a research report on Monday, December 16th. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $52.19.

Insider Activity

In other Cheesecake Factory news, CFO Matthew Eliot Clark sold 29,000 shares of Cheesecake Factory stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $53.56, for a total value of $1,553,240.00. Following the transaction, the chief financial officer now owns 39,856 shares of the company's stock, valued at approximately $2,134,687.36. The trade was a 42.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman David Overton sold 100,000 shares of the stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $53.08, for a total transaction of $5,308,000.00. Following the sale, the chairman now directly owns 3,092,147 shares of the company's stock, valued at $164,131,162.76. This represents a 3.13 % decrease in their position. The disclosure for this sale can be found here. 8.10% of the stock is owned by company insiders.

Cheesecake Factory Trading Up 1.9 %

Shares of NASDAQ:CAKE traded up $0.94 during midday trading on Friday, hitting $49.16. The company had a trading volume of 2,007,562 shares, compared to its average volume of 1,657,594. The firm has a fifty day simple moving average of $51.78 and a 200 day simple moving average of $46.47. The stock has a market cap of $2.54 billion, a price-to-earnings ratio of 15.36, a PEG ratio of 1.31 and a beta of 1.55. The company has a current ratio of 0.44, a quick ratio of 0.33 and a debt-to-equity ratio of 1.19. The Cheesecake Factory Incorporated has a 12 month low of $33.05 and a 12 month high of $57.32.

Cheesecake Factory (NASDAQ:CAKE - Get Free Report) last posted its earnings results on Wednesday, February 19th. The restaurant operator reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.13. Cheesecake Factory had a return on equity of 45.89% and a net margin of 4.38%. The company had revenue of $920.96 million during the quarter, compared to analyst estimates of $912.67 million. On average, analysts predict that The Cheesecake Factory Incorporated will post 3.71 EPS for the current year.

Cheesecake Factory Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 18th. Stockholders of record on Wednesday, March 5th will be issued a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 2.20%. The ex-dividend date of this dividend is Wednesday, March 5th. Cheesecake Factory's dividend payout ratio (DPR) is 33.75%.

Cheesecake Factory Profile

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.