Neuberger Berman Group LLC decreased its position in The Cheesecake Factory Inc. (NASDAQ:CAKE) by 2.4% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 1,388,958 shares of the company’s stock after selling 33,786 shares during the period. Neuberger Berman Group LLC owned approximately 2.99% of The Cheesecake Factory worth $69,531,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of CAKE. Victory Capital Management Inc. raised its position in shares of The Cheesecake Factory by 77.3% in the second quarter. Victory Capital Management Inc. now owns 2,191 shares of the company’s stock valued at $105,000 after buying an additional 955 shares during the period. Huntington National Bank raised its position in shares of The Cheesecake Factory by 93.1% in the second quarter. Huntington National Bank now owns 2,346 shares of the company’s stock valued at $113,000 after buying an additional 1,131 shares during the period. LS Investment Advisors LLC raised its position in shares of The Cheesecake Factory by 66.1% in the second quarter. LS Investment Advisors LLC now owns 2,740 shares of the company’s stock valued at $132,000 after buying an additional 1,090 shares during the period. Wagner Bowman Management Corp raised its position in shares of The Cheesecake Factory by 0.8% in the second quarter. Wagner Bowman Management Corp now owns 4,240 shares of the company’s stock valued at $204,000 after buying an additional 35 shares during the period. Finally, Parametrica Management Ltd purchased a new position in shares of The Cheesecake Factory during the second quarter valued at approximately $207,000. 91.83% of the stock is currently owned by institutional investors and hedge funds.

Institutional Ownership by Quarter for The Cheesecake Factory (NASDAQ:CAKE)

Shares of The Cheesecake Factory Inc. (NASDAQ:CAKE) opened at 59.13 on Wednesday. The firm has a 50 day moving average price of $54.02 and a 200-day moving average price of $51.36. The Cheesecake Factory Inc. has a 12-month low of $44.16 and a 12-month high of $60.19. The company has a market cap of $2.71 billion, a price-to-earnings ratio of 21.92 and a beta of 0.15.

The Cheesecake Factory (NASDAQ:CAKE) last posted its earnings results on Wednesday, October 26th. The company reported $0.70 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.61 by $0.09. The Cheesecake Factory had a net margin of 6.11% and a return on equity of 22.76%. The firm earned $560 million during the quarter, compared to the consensus estimate of $356.58 million. During the same quarter last year, the firm earned $0.59 EPS. The firm’s revenue for the quarter was up 6.3% on a year-over-year basis. On average, equities analysts expect that The Cheesecake Factory Inc. will post $2.84 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 22nd. Investors of record on Wednesday, November 9th were issued a $0.24 dividend. The ex-dividend date was Monday, November 7th. This represents a $0.96 annualized dividend and a yield of 1.62%. The Cheesecake Factory’s dividend payout ratio (DPR) is presently 35.56%.

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Several brokerages have recently commented on CAKE. Stephens lowered The Cheesecake Factory from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, November 16th. Argus upgraded The Cheesecake Factory from a “hold” rating to a “buy” rating and set a $69.00 price objective on the stock in a research report on Tuesday, November 15th. They noted that the move was a valuation call. Maxim Group lowered The Cheesecake Factory from a “buy” rating to a “hold” rating and set a $59.00 price objective on the stock. in a research report on Tuesday, November 15th. Telsey Advisory Group upgraded The Cheesecake Factory from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $56.00 to $61.00 in a research report on Wednesday, November 9th. Finally, Jefferies Group restated a “hold” rating and set a $51.00 price target (up from $49.00) on shares of The Cheesecake Factory in a research report on Friday, October 28th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. The Cheesecake Factory has an average rating of “Hold” and a consensus price target of $56.26.

In related news, insider Cheryl Slomann sold 1,000 shares of The Cheesecake Factory stock in a transaction that occurred on Tuesday, November 29th. The shares were sold at an average price of $59.38, for a total value of $59,380.00. Following the completion of the sale, the insider now owns 11,089 shares in the company, valued at approximately $658,464.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Doug Benn sold 13,004 shares of The Cheesecake Factory stock in a transaction that occurred on Thursday, November 10th. The shares were sold at an average price of $55.75, for a total transaction of $724,973.00. Following the completion of the sale, the chief financial officer now owns 52,332 shares of the company’s stock, valued at approximately $2,917,509. The disclosure for this sale can be found here. 8.50% of the stock is currently owned by corporate insiders.

About The Cheesecake Factory

The Cheesecake Factory Incorporated is engaged in the restaurant and bakery business. The Company operates approximately 200 Company-owned restaurants, including approximately 190 restaurants under The Cheesecake Factory mark and approximately 10 restaurants under the Grand Lux Cafe mark. The Company’s segments include The Cheesecake Factory restaurants, and other, which includes Grand Lux Cafe, RockSugar Pan Asian Kitchen, bakery and international licensing.

5 Day Chart for NASDAQ:CAKE

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