ARGA Investment Management LP bought a new stake in shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE) in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 20,700 shares of the restaurant operator’s stock, valued at approximately $872,000.

A number of other hedge funds have also added to or reduced their stakes in the business. Kayne Anderson Rudnick Investment Management LLC grew its position in shares of The Cheesecake Factory by 54.8% during the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,457,364 shares of the restaurant operator’s stock worth $103,504,000 after acquiring an additional 869,579 shares during the last quarter. First Trust Advisors LP grew its position in shares of The Cheesecake Factory by 750.5% during the third quarter. First Trust Advisors LP now owns 580,508 shares of the restaurant operator’s stock worth $24,451,000 after acquiring an additional 512,255 shares during the last quarter. Renaissance Technologies LLC bought a new position in shares of The Cheesecake Factory during the second quarter worth about $25,369,000. Marshall Wace North America L.P. grew its position in shares of The Cheesecake Factory by 1,407.1% during the second quarter. Marshall Wace North America L.P. now owns 393,218 shares of the restaurant operator’s stock worth $19,661,000 after acquiring an additional 367,127 shares during the last quarter. Finally, Koch Industries Inc. bought a new position in shares of The Cheesecake Factory during the second quarter worth about $353,000. Hedge funds and other institutional investors own 99.31% of the company’s stock.

Shares of The Cheesecake Factory Incorporated (CAKE) traded down $0.29 during midday trading on Thursday, reaching $44.92. 1,662,500 shares of the company’s stock were exchanged, compared to its average volume of 1,100,477. The Cheesecake Factory Incorporated has a 52 week low of $38.34 and a 52 week high of $67.14. The company has a quick ratio of 0.37, a current ratio of 0.51 and a debt-to-equity ratio of 0.05. The firm has a market cap of $2,069.95, a P/E ratio of 16.56, a price-to-earnings-growth ratio of 1.21 and a beta of 0.29.

The Cheesecake Factory (NASDAQ:CAKE) last issued its quarterly earnings results on Wednesday, November 1st. The restaurant operator reported $0.56 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.60 by ($0.04). The business had revenue of $555.40 million during the quarter, compared to analyst estimates of $566.09 million. The Cheesecake Factory had a net margin of 5.76% and a return on equity of 21.65%. The Cheesecake Factory’s revenue was down .8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.70 earnings per share. sell-side analysts anticipate that The Cheesecake Factory Incorporated will post 2.61 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 28th. Stockholders of record on Wednesday, November 15th will be issued a $0.29 dividend. The ex-dividend date is Tuesday, November 14th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 2.58%. The Cheesecake Factory’s dividend payout ratio is 42.80%.

Several equities analysts have recently commented on CAKE shares. Piper Jaffray Companies restated a “buy” rating and set a $65.00 price target on shares of The Cheesecake Factory in a research report on Wednesday, July 26th. BidaskClub lowered shares of The Cheesecake Factory from a “sell” rating to a “strong sell” rating in a research report on Thursday, July 27th. Maxim Group restated a “buy” rating and set a $57.00 price target (down previously from $65.00) on shares of The Cheesecake Factory in a research report on Thursday, August 3rd. Nomura lowered their price target on shares of The Cheesecake Factory from $50.00 to $44.00 and set a “neutral” rating for the company in a research report on Thursday, August 3rd. Finally, Barclays PLC restated an “equal weight” rating and set a $48.00 price target (down previously from $53.00) on shares of The Cheesecake Factory in a research report on Thursday, August 3rd. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have issued a buy rating to the stock. The Cheesecake Factory presently has a consensus rating of “Hold” and an average target price of $48.00.

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In other The Cheesecake Factory news, Director Herbert Simon bought 25,000 shares of the company’s stock in a transaction dated Monday, November 6th. The shares were bought at an average price of $43.50 per share, for a total transaction of $1,087,500.00. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Debby R. Zurzolo sold 2,415 shares of the company’s stock in a transaction dated Thursday, November 9th. The shares were sold at an average price of $44.20, for a total value of $106,743.00. The disclosure for this sale can be found here. 8.40% of the stock is owned by corporate insiders.

About The Cheesecake Factory

The Cheesecake Factory Incorporated is engaged in the restaurant and bakery business. As of March 2, 2017, the Company operated 208 Company-owned restaurants: 194 under The Cheesecake Factory mark, 13 under the Grand Lux Cafe mark and one under the Rock Sugar Pan Asian Kitchen mark. The Company’s segments include The Cheesecake Factory restaurants, and other.

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

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