The Cheesecake Factory Incorporated (NASDAQ:CAKE) Stock Position Lowered by Rockefeller Capital Management L.P.

Rockefeller Capital Management L.P. trimmed its stake in The Cheesecake Factory Incorporated (NASDAQ:CAKE - Free Report) by 45.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 108,050 shares of the restaurant operator's stock after selling 89,283 shares during the quarter. Rockefeller Capital Management L.P. owned about 0.21% of Cheesecake Factory worth $4,381,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of CAKE. American Century Companies Inc. increased its holdings in Cheesecake Factory by 31.1% in the 2nd quarter. American Century Companies Inc. now owns 942,694 shares of the restaurant operator's stock valued at $37,038,000 after purchasing an additional 223,497 shares in the last quarter. JCP Investment Management LLC acquired a new position in Cheesecake Factory during the 2nd quarter worth approximately $5,149,000. Victory Capital Management Inc. boosted its holdings in Cheesecake Factory by 32.7% in the 3rd quarter. Victory Capital Management Inc. now owns 403,271 shares of the restaurant operator's stock worth $16,353,000 after acquiring an additional 99,341 shares during the period. Earnest Partners LLC raised its stake in shares of Cheesecake Factory by 2.8% during the second quarter. Earnest Partners LLC now owns 2,831,381 shares of the restaurant operator's stock valued at $111,245,000 after purchasing an additional 76,578 shares during the period. Finally, William Blair Investment Management LLC lifted its position in shares of Cheesecake Factory by 8.0% during the second quarter. William Blair Investment Management LLC now owns 819,328 shares of the restaurant operator's stock worth $32,191,000 after purchasing an additional 60,545 shares in the last quarter. Institutional investors and hedge funds own 94.48% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have commented on CAKE. Stephens boosted their price objective on shares of Cheesecake Factory from $50.00 to $51.00 and gave the stock an "overweight" rating in a report on Wednesday, October 30th. UBS Group raised their price objective on Cheesecake Factory from $32.00 to $36.00 and gave the company a "sell" rating in a research note on Friday, October 25th. Bank of America increased their target price on Cheesecake Factory from $47.00 to $49.00 and gave the company a "neutral" rating in a research note on Wednesday, October 30th. Wells Fargo & Company lifted their price target on shares of Cheesecake Factory from $38.00 to $45.00 and gave the stock an "equal weight" rating in a research note on Wednesday, October 30th. Finally, The Goldman Sachs Group assumed coverage on shares of Cheesecake Factory in a research report on Thursday. They issued a "buy" rating and a $56.00 target price for the company. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $45.62.

Cheesecake Factory Stock Performance

NASDAQ:CAKE traded up $1.06 during midday trading on Thursday, reaching $51.17. 1,133,013 shares of the company traded hands, compared to its average volume of 1,102,377. The Cheesecake Factory Incorporated has a twelve month low of $31.24 and a twelve month high of $51.23. 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 company has a fifty day moving average price of $44.66 and a 200 day moving average price of $40.52. The firm has a market capitalization of $2.61 billion, a price-to-earnings ratio of 19.46, a price-to-earnings-growth ratio of 1.37 and a beta of 1.48.

Cheesecake Factory (NASDAQ:CAKE - Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The restaurant operator reported $0.58 EPS 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 business had revenue of $865.50 million during the quarter, compared to analyst estimates of $866.13 million. During the same quarter in the prior year, the firm earned $0.39 earnings per share. The company's quarterly revenue was up 4.3% on a year-over-year basis. On average, analysts expect that The Cheesecake Factory Incorporated will post 3.3 EPS for the current fiscal year.

Cheesecake Factory Dividend Announcement

The firm 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 of this dividend was Wednesday, November 13th. This represents a $1.08 dividend on an annualized basis and a yield of 2.11%. Cheesecake Factory's dividend payout ratio (DPR) is presently 41.06%.

Insider Transactions at Cheesecake Factory

In other news, insider Keith Carango sold 13,095 shares of the firm's stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $49.88, for a total transaction of $653,178.60. Following the completion of the transaction, the insider now owns 14,977 shares in the company, valued at approximately $747,052.76. This trade represents a 46.65 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 8.10% of the company's stock.

Cheesecake Factory Company 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.