Fred Alger Management LLC Has $3.96 Million Holdings in The Cheesecake Factory Incorporated (NASDAQ:CAKE)

Fred Alger Management LLC boosted its holdings in The Cheesecake Factory Incorporated (NASDAQ:CAKE - Free Report) by 159.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 97,765 shares of the restaurant operator's stock after purchasing an additional 60,100 shares during the period. Fred Alger Management LLC owned about 0.19% of Cheesecake Factory worth $3,964,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Cheesecake Factory by 7.2% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,090 shares of the restaurant operator's stock worth $450,000 after purchasing an additional 749 shares in the last quarter. Glenmede Trust Co. NA bought a new position in Cheesecake Factory during the 3rd quarter valued at approximately $223,000. Charles Schwab Investment Management Inc. raised its position in Cheesecake Factory by 1.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 597,901 shares of the restaurant operator's stock valued at $24,245,000 after purchasing an additional 6,872 shares during the last quarter. Intech Investment Management LLC bought a new position in shares of Cheesecake Factory in the 3rd quarter worth approximately $723,000. Finally, Pathstone Holdings LLC raised its position in shares of Cheesecake Factory by 0.9% in the 3rd quarter. Pathstone Holdings LLC now owns 37,540 shares of the restaurant operator's stock worth $1,522,000 after acquiring an additional 329 shares in the last quarter. 94.48% of the stock is currently owned by institutional investors.

Cheesecake Factory Trading Up 1.8 %

NASDAQ:CAKE traded up $0.90 during trading hours on Friday, reaching $50.64. 502,153 shares of the company were exchanged, compared to its average volume of 1,076,821. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.44 and a quick ratio of 0.33. The firm has a market cap of $2.58 billion, a price-to-earnings ratio of 19.25, a PEG ratio of 1.39 and a beta of 1.47. The Cheesecake Factory Incorporated has a 52-week low of $30.96 and a 52-week high of $50.94. The stock has a 50 day simple moving average of $44.04 and a 200 day simple moving average of $40.30.

Cheesecake Factory (NASDAQ:CAKE - Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The restaurant operator reported $0.58 earnings per share for the quarter, beating analysts' consensus estimates of $0.47 by $0.11. The business had revenue of $865.50 million during 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%. The business's revenue was up 4.3% on a year-over-year basis. During the same period last year, the business earned $0.39 EPS. As a group, analysts predict that The Cheesecake Factory Incorporated will post 3.3 EPS for the current year.

Cheesecake Factory Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 26th. Shareholders of record on Wednesday, November 13th were given a dividend of $0.27 per share. The ex-dividend date was Wednesday, November 13th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.13%. Cheesecake Factory's dividend payout ratio (DPR) is 41.06%.

Analyst Ratings Changes

A number of research firms have recently issued reports on CAKE. Stephens raised their target price on Cheesecake Factory from $50.00 to $51.00 and gave the stock an "overweight" rating in a report on Wednesday, October 30th. Robert W. Baird boosted their price objective on shares of Cheesecake Factory from $40.00 to $47.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 30th. Wedbush increased their price target on Cheesecake Factory from $52.00 to $59.00 and gave the stock an "outperform" rating in a research report on Thursday, November 14th. Barclays raised their target price on Cheesecake Factory from $38.00 to $44.00 and gave the company an "underweight" rating in a research report on Wednesday, October 30th. Finally, Citigroup lifted their price objective on Cheesecake Factory from $46.00 to $51.00 and gave the stock a "buy" rating in a report on Friday, October 4th. 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 stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $44.75.

Insider Transactions at Cheesecake Factory

In related news, insider Keith Carango sold 13,095 shares of the business's stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $49.88, for a total transaction of $653,178.60. Following the transaction, the insider now directly owns 14,977 shares of the company's stock, valued at approximately $747,052.76. The trade was a 46.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 8.10% of the company's stock.

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.