UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 11,001 Shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lessened its stake in shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE) by 11.2% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 87,530 shares of the restaurant operator’s stock after selling 11,001 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Cheesecake Factory were worth $3,549,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Quest Partners LLC bought a new position in shares of Cheesecake Factory during the 3rd quarter valued at about $973,000. Principal Financial Group Inc. increased 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 acquiring an additional 22,416 shares during the period. Victory Capital Management Inc. increased its position in shares of Cheesecake Factory by 32.7% during the third 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. Dimensional Fund Advisors LP increased its position in shares of Cheesecake Factory by 3.6% during the second quarter. Dimensional Fund Advisors LP now owns 1,241,272 shares of the restaurant operator’s stock worth $48,772,000 after acquiring an additional 43,128 shares during the period. Finally, Earnest Partners LLC increased its position 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 worth $111,245,000 after acquiring an additional 76,578 shares during the period. Institutional investors own 94.48% of the company’s stock.

Cheesecake Factory Stock Performance

NASDAQ:CAKE opened at $49.96 on Friday. The company’s 50-day moving average is $45.77 and its two-hundred day moving average is $41.01. 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 1-year low of $31.24 and a 1-year high of $52.10. The firm has a market capitalization of $2.55 billion, a price-to-earnings ratio of 19.00, a PEG ratio of 1.36 and a beta of 1.48.

Cheesecake Factory (NASDAQ:CAKE) last issued its quarterly earnings data on Tuesday, October 29th. The restaurant operator reported $0.58 EPS for the quarter, topping the consensus estimate of $0.47 by $0.11. The firm 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 business’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.39 EPS. Analysts forecast that The Cheesecake Factory Incorporated will post 3.31 EPS for the current year.

Cheesecake Factory Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 26th. Shareholders of record on Wednesday, November 13th were issued 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 2.16%. Cheesecake Factory’s dividend payout ratio (DPR) is presently 41.06%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on CAKE shares. Barclays increased their price objective on shares of Cheesecake Factory from $38.00 to $44.00 and gave the company an “underweight” rating in a research note on Wednesday, October 30th. 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. Wedbush lifted their price objective on shares of Cheesecake Factory from $52.00 to $59.00 and gave the stock an “outperform” rating in a research note on Thursday, November 14th. The Goldman Sachs Group assumed coverage on shares of Cheesecake Factory in a report on Thursday, December 5th. They set a “buy” rating and a $56.00 target price for the company. Finally, Robert W. Baird raised their target price on shares of Cheesecake Factory from $40.00 to $47.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Cheesecake Factory currently has a consensus rating of “Hold” and an average price target of $46.08.

Insider Activity

In related news, insider Keith Carango sold 13,095 shares of the stock in a transaction on 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 directly owns 14,977 shares of the company’s stock, valued at $747,052.76. This trade represents a 46.65 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 8.10% of the company’s stock.

About Cheesecake Factory

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.