Envestnet Asset Management Inc. Sells 42,636 Shares of The Cheesecake Factory Incorporated $CAKE

Envestnet Asset Management Inc. lowered its stake in shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE) by 11.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 339,847 shares of the restaurant operator’s stock after selling 42,636 shares during the quarter. Envestnet Asset Management Inc. owned 0.68% of Cheesecake Factory worth $18,569,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Campbell & CO Investment Adviser LLC purchased a new position in shares of Cheesecake Factory in the 3rd quarter worth about $2,743,000. Osaic Holdings Inc. grew its position in shares of Cheesecake Factory by 1,041.1% during the 2nd quarter. Osaic Holdings Inc. now owns 28,515 shares of the restaurant operator’s stock valued at $1,786,000 after acquiring an additional 26,016 shares during the period. AlphaQuest LLC grew its position in shares of Cheesecake Factory by 186.9% during the 3rd quarter. AlphaQuest LLC now owns 43,226 shares of the restaurant operator’s stock valued at $2,362,000 after acquiring an additional 28,159 shares during the period. Intech Investment Management LLC increased its stake in shares of Cheesecake Factory by 131.8% during the 2nd quarter. Intech Investment Management LLC now owns 97,055 shares of the restaurant operator’s stock worth $6,081,000 after purchasing an additional 55,185 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC purchased a new stake in shares of Cheesecake Factory during the 2nd quarter worth approximately $246,000. 94.48% of the stock is currently owned by institutional investors.

Cheesecake Factory Trading Down 0.0%

NASDAQ:CAKE opened at $58.67 on Friday. The firm has a market capitalization of $2.92 billion, a P/E ratio of 17.78, a P/E/G ratio of 1.49 and a beta of 1.02. The company has a quick ratio of 0.47, a current ratio of 0.55 and a debt-to-equity ratio of 1.32. The company has a fifty day moving average of $55.66 and a 200 day moving average of $55.10. The Cheesecake Factory Incorporated has a 52 week low of $42.69 and a 52 week high of $69.70.

Wall Street Analysts Forecast Growth

CAKE has been the topic of a number of research reports. Bank of America lowered their price objective on Cheesecake Factory from $61.00 to $56.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 29th. Stephens lowered their price target on shares of Cheesecake Factory from $70.00 to $64.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 29th. JPMorgan Chase & Co. cut their price objective on shares of Cheesecake Factory from $57.00 to $52.00 and set an “underweight” rating for the company in a report on Thursday, October 30th. Weiss Ratings lowered shares of Cheesecake Factory from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, January 15th. Finally, Jefferies Financial Group set a $70.00 target price on Cheesecake Factory and gave the stock a “buy” rating in a research report on Wednesday, October 29th. Eight investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $60.12.

About Cheesecake Factory

The Cheesecake Factory Incorporated (NASDAQ:CAKE) is an American restaurant company and distributor renowned for its full-service casual-dining concept and specialty cheesecakes. Headquartered in Calabasas Hills, California, the company operates more than 200 restaurants under The Cheesecake Factory® brand across the United States, Puerto Rico and select international markets. In addition to sit-down dining, Cheesecake Factory franchised locations offer catering and take-out services, while a separate manufacturing arm supplies branded cheesecakes and desserts to supermarkets, hotels and other foodservice operators.

The origins of the brand trace back to a small cheesecake bakery founded in Detroit in the 1940s.