Victory Capital Management Inc. Acquires 99,341 Shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE)

Victory Capital Management Inc. lifted its position in shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE - Free Report) by 32.7% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 403,271 shares of the restaurant operator's stock after acquiring an additional 99,341 shares during the quarter. Victory Capital Management Inc. owned approximately 0.79% of Cheesecake Factory worth $16,353,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in CAKE. GSA Capital Partners LLP acquired a new position in Cheesecake Factory in the third quarter valued at about $395,000. Atria Investments Inc boosted its position in shares of Cheesecake Factory by 8.2% during the third quarter. Atria Investments Inc now owns 9,074 shares of the restaurant operator's stock worth $368,000 after buying an additional 689 shares during the period. Principal Financial Group Inc. boosted its position in shares of Cheesecake Factory by 9.6% during the third quarter. Principal Financial Group Inc. now owns 255,595 shares of the restaurant operator's stock worth $10,364,000 after buying an additional 22,416 shares during the period. Harbor Capital Advisors Inc. boosted its position in shares of Cheesecake Factory by 2.4% during the third quarter. Harbor Capital Advisors Inc. now owns 23,110 shares of the restaurant operator's stock worth $937,000 after buying an additional 532 shares during the period. Finally, Oak Harvest Investment Services acquired a new position in shares of Cheesecake Factory during the third quarter worth about $345,000. Institutional investors own 94.48% of the company's stock.

Insider Buying and Selling at Cheesecake Factory

In other news, insider Keith Carango sold 13,095 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $49.88, for a total value of $653,178.60. Following the completion of the transaction, the insider now directly 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 8.10% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CAKE. StockNews.com raised Cheesecake Factory from a "hold" rating to a "buy" rating in a research report on Wednesday. Stephens upped their price objective on Cheesecake Factory from $50.00 to $51.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 30th. UBS Group upped their target price on Cheesecake Factory from $32.00 to $36.00 and gave the stock a "sell" rating in a report on Friday, October 25th. Wedbush upped their target price on Cheesecake Factory from $52.00 to $59.00 and gave the stock an "outperform" rating in a report on Thursday, November 14th. Finally, Barclays upped their target price on Cheesecake Factory from $38.00 to $44.00 and gave the stock an "underweight" rating in a report on Wednesday, October 30th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $44.75.

Cheesecake Factory Price Performance

NASDAQ:CAKE traded up $0.06 during trading hours on Wednesday, reaching $46.63. 705,220 shares of the company were exchanged, compared to its average volume of 970,577. The company has a market capitalization of $2.38 billion, a P/E ratio of 17.73, a P/E/G ratio of 1.32 and a beta of 1.47. The Cheesecake Factory Incorporated has a 1-year low of $30.96 and a 1-year 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. The business has a 50 day moving average of $42.54 and a 200 day moving average of $39.70.

Cheesecake Factory (NASDAQ:CAKE - Get Free Report) last issued its quarterly earnings results on Tuesday, October 29th. The restaurant operator reported $0.58 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.47 by $0.11. The business had revenue of $865.50 million for the quarter, compared to the consensus estimate of $866.13 million. Cheesecake Factory had a return on equity of 43.90% and a net margin of 3.63%. The firm's quarterly revenue was up 4.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.39 earnings per share. Research analysts forecast that The Cheesecake Factory Incorporated will post 3.3 EPS for the current year.

Cheesecake Factory Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 26th. Shareholders of record on Wednesday, November 13th will be issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date of this dividend is Wednesday, November 13th. Cheesecake Factory's dividend payout ratio is presently 41.06%.

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.