Bamco Inc. NY Has $81.10 Million Holdings in The Cheesecake Factory Incorporated (NASDAQ:CAKE)

Bamco Inc. NY lessened its holdings in The Cheesecake Factory Incorporated (NASDAQ:CAKE) by 9.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,000,000 shares of the restaurant operator’s stock after selling 200,000 shares during the period. Bamco Inc. NY’s holdings in Cheesecake Factory were worth $81,100,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. GAMMA Investing LLC raised its holdings in Cheesecake Factory by 276.4% in the 2nd quarter. GAMMA Investing LLC now owns 1,449 shares of the restaurant operator’s stock worth $57,000 after acquiring an additional 1,064 shares during the period. nVerses Capital LLC bought a new position in Cheesecake Factory in the 2nd quarter worth $67,000. Wealth Alliance bought a new position in Cheesecake Factory in the 2nd quarter worth $213,000. Glenmede Trust Co. NA bought a new position in Cheesecake Factory in the 3rd quarter worth $223,000. Finally, Foundations Investment Advisors LLC bought a new position in Cheesecake Factory in the 3rd quarter worth $227,000. Institutional investors and hedge funds own 94.48% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on CAKE shares. Wedbush lifted their target price on shares of Cheesecake Factory from $52.00 to $59.00 and gave the stock an “outperform” rating in a report on Thursday, November 14th. Stephens lifted their target price on shares of Cheesecake Factory from $50.00 to $51.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. StockNews.com downgraded shares of Cheesecake Factory from a “buy” rating to a “hold” rating in a report on Thursday. UBS Group boosted their price objective on shares of Cheesecake Factory from $32.00 to $36.00 and gave the stock a “sell” rating in a report on Friday, October 25th. Finally, Wells Fargo & Company boosted their price objective on shares of Cheesecake Factory from $38.00 to $45.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $44.75.

Insider Buying and Selling at Cheesecake Factory

In other Cheesecake Factory news, insider Keith Carango sold 13,095 shares of the business’s stock in a transaction dated 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 in the company, valued at $747,052.76. The trade was a 46.65 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 8.10% of the company’s stock.

Cheesecake Factory Stock Performance

NASDAQ CAKE opened at $50.64 on Monday. The stock has a market cap of $2.58 billion, a P/E ratio of 19.25, a PEG ratio of 1.39 and a beta of 1.47. The company’s 50-day simple moving average is $44.04 and its 200 day simple moving average is $40.30. The Cheesecake Factory Incorporated has a twelve month low of $30.96 and a twelve month high of $50.94. The company has a quick ratio of 0.33, a current ratio of 0.44 and a debt-to-equity ratio of 1.19.

Cheesecake Factory (NASDAQ:CAKE) last posted its earnings results on Tuesday, October 29th. The restaurant operator reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.11. The business had revenue of $865.50 million for the quarter, compared to analysts’ expectations of $866.13 million. Cheesecake Factory had a net margin of 3.63% and a return on equity of 43.90%. The firm’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.39 earnings per share. As a group, research analysts forecast that The Cheesecake Factory Incorporated will post 3.3 earnings per share for the current fiscal year.

Cheesecake Factory Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 26th. Investors of record on Wednesday, November 13th were paid a $0.27 dividend. The ex-dividend date was Wednesday, November 13th. This represents a $1.08 dividend on an annualized basis and a yield of 2.13%. Cheesecake Factory’s payout ratio is currently 41.06%.

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.