Creative Planning Sells 1,045 Shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE)

Creative Planning decreased its position in shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE) by 10.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,090 shares of the restaurant operator’s stock after selling 1,045 shares during the quarter. Creative Planning’s holdings in Cheesecake Factory were worth $369,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Earnest Partners LLC increased its holdings 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 valued at $111,245,000 after acquiring an additional 76,578 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings 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 valued at $48,772,000 after acquiring an additional 43,128 shares in the last quarter. American Century Companies Inc. increased its holdings in shares of Cheesecake Factory by 31.1% during the second quarter. American Century Companies Inc. now owns 942,694 shares of the restaurant operator’s stock valued at $37,038,000 after acquiring an additional 223,497 shares in the last quarter. William Blair Investment Management LLC increased its holdings in shares of Cheesecake Factory by 8.0% during the second quarter. William Blair Investment Management LLC now owns 819,328 shares of the restaurant operator’s stock valued at $32,191,000 after acquiring an additional 60,545 shares in the last quarter. Finally, Natixis Advisors LLC increased its holdings in shares of Cheesecake Factory by 0.7% during the second quarter. Natixis Advisors LLC now owns 530,497 shares of the restaurant operator’s stock valued at $20,843,000 after acquiring an additional 3,872 shares in the last quarter. Institutional investors own 94.48% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Robert W. Baird boosted their price objective on Cheesecake Factory from $40.00 to $47.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Wells Fargo & Company lifted their target price on Cheesecake Factory from $38.00 to $45.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Bank of America lifted their target price on Cheesecake Factory from $47.00 to $49.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. UBS Group lifted their target price on Cheesecake Factory from $32.00 to $36.00 and gave the company a “sell” rating in a research report on Friday, October 25th. Finally, JPMorgan Chase & Co. cut their target price on Cheesecake Factory from $40.00 to $38.00 and set an “underweight” rating on the stock in a research report on Tuesday, August 6th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Cheesecake Factory currently has a consensus rating of “Hold” and an average target price of $44.17.

Cheesecake Factory Stock Down 4.3 %

CAKE stock opened at $47.30 on Friday. The stock’s fifty day simple moving average is $40.84 and its two-hundred day simple moving average is $38.87. The company has a current ratio of 0.43, a quick ratio of 0.32 and a debt-to-equity ratio of 1.26. The Cheesecake Factory Incorporated has a 1-year low of $30.04 and a 1-year high of $50.75. The stock has a market cap of $2.41 billion, a P/E ratio of 17.98, a P/E/G ratio of 1.25 and a beta of 1.47.

Cheesecake Factory (NASDAQ:CAKE) last issued its earnings results on Tuesday, October 29th. The restaurant operator reported $0.58 earnings per share (EPS) for the quarter, beating 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 return on equity of 45.66% and a net margin of 3.63%. The business’s revenue was up 4.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.39 earnings per share. Analysts expect that The Cheesecake Factory Incorporated will post 3.3 EPS for the current year.

Cheesecake Factory Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 26th. Shareholders of record on Wednesday, November 13th will be paid a $0.27 dividend. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $1.08 annualized dividend and a dividend yield of 2.28%. Cheesecake Factory’s 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.