The Cheesecake Factory Incorporated (NASDAQ:CAKE) Shares Sold by Bamco Inc. NY

Bamco Inc. NY trimmed its holdings in The Cheesecake Factory Incorporated (NASDAQ:CAKE - Free Report) by 9.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,000,000 shares of the restaurant operator's stock after selling 200,000 shares during the period. Bamco Inc. NY owned 3.92% of Cheesecake Factory worth $81,100,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CAKE. GAMMA Investing LLC boosted its position in shares of Cheesecake Factory by 276.4% in the second quarter. GAMMA Investing LLC now owns 1,449 shares of the restaurant operator's stock worth $57,000 after acquiring an additional 1,064 shares during the last quarter. nVerses Capital LLC purchased a new stake in shares of Cheesecake Factory during the 2nd quarter valued at $67,000. Wealth Alliance acquired a new stake in shares of Cheesecake Factory during the 2nd quarter worth $213,000. Glenmede Trust Co. NA purchased a new position in shares of Cheesecake Factory in the 3rd quarter worth $223,000. Finally, Foundations Investment Advisors LLC acquired a new position in Cheesecake Factory in the third quarter valued at $227,000. Hedge funds and other institutional investors own 94.48% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on CAKE shares. UBS Group raised their price objective on Cheesecake Factory from $32.00 to $36.00 and gave the stock a "sell" rating in a report on Friday, October 25th. StockNews.com downgraded shares of Cheesecake Factory from a "buy" rating to a "hold" rating in a research note on Thursday. Citigroup raised their target price on shares of Cheesecake Factory from $46.00 to $51.00 and gave the company a "buy" rating in a research note on Friday, October 4th. 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 research report on Wednesday, October 30th. Finally, Barclays raised their price objective on Cheesecake Factory from $38.00 to $44.00 and gave the company an "underweight" rating in a research report on Wednesday, October 30th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $44.75.

Insider Activity at Cheesecake Factory

In other Cheesecake Factory 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 value of $653,178.60. Following the transaction, the insider now owns 14,977 shares of the company's stock, valued at $747,052.76. This trade represents a 46.65 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 8.10% of the company's stock.

Cheesecake Factory Stock Down 2.4 %

Shares of NASDAQ:CAKE traded down $1.23 during midday trading on Monday, reaching $49.41. The company had a trading volume of 844,775 shares, compared to its average volume of 970,452. The stock has a market capitalization of $2.52 billion, a P/E ratio of 19.27, a PEG ratio of 1.39 and a beta of 1.47. The stock's fifty day moving average price is $44.04 and its 200-day moving average price is $40.30. 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 Cheesecake Factory Incorporated has a one year low of $31.24 and a one year high of $50.94.

Cheesecake Factory (NASDAQ:CAKE - Get Free Report) last issued its earnings results on Tuesday, October 29th. The restaurant operator reported $0.58 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.47 by $0.11. The business had revenue of $865.50 million for 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 company's revenue for the quarter was up 4.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.39 EPS. Equities research analysts expect that The Cheesecake Factory Incorporated will post 3.3 earnings per share for the current fiscal year.

Cheesecake Factory Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 26th. Stockholders of record on Wednesday, November 13th were issued a $0.27 dividend. The ex-dividend date was Wednesday, November 13th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.19%. Cheesecake Factory's dividend payout ratio (DPR) is 41.06%.

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.