Fisher Asset Management LLC Sells 5,839 Shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE)

Fisher Asset Management LLC trimmed its position in The Cheesecake Factory Incorporated (NASDAQ:CAKE) by 2.2% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 262,750 shares of the restaurant operator’s stock after selling 5,839 shares during the period. Fisher Asset Management LLC owned about 0.52% of Cheesecake Factory worth $9,199,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. SG Americas Securities LLC purchased a new stake in shares of Cheesecake Factory during the 3rd quarter valued at $612,000. New York State Teachers Retirement System grew its holdings in Cheesecake Factory by 3.6% during the 3rd quarter. New York State Teachers Retirement System now owns 74,035 shares of the restaurant operator’s stock valued at $2,243,000 after buying an additional 2,577 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Cheesecake Factory by 40.7% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,148 shares of the restaurant operator’s stock valued at $307,000 after buying an additional 2,935 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Cheesecake Factory by 2.3% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,642 shares of the restaurant operator’s stock worth $656,000 after buying an additional 487 shares in the last quarter. Finally, Inspire Investing LLC boosted its position in shares of Cheesecake Factory by 10.2% in the third quarter. Inspire Investing LLC now owns 11,366 shares of the restaurant operator’s stock valued at $344,000 after acquiring an additional 1,049 shares during the period. Hedge funds and other institutional investors own 94.48% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Barclays upped their target price on shares of Cheesecake Factory from $32.00 to $33.00 and gave the stock an “underweight” rating in a report on Thursday, February 22nd. Wedbush reiterated an “outperform” rating and issued a $40.00 price objective on shares of Cheesecake Factory in a research report on Wednesday, April 10th. JPMorgan Chase & Co. cut Cheesecake Factory from a “neutral” rating to an “underweight” rating and set a $33.00 target price for the company. in a research report on Tuesday, January 23rd. Piper Sandler upped their target price on Cheesecake Factory from $33.00 to $37.00 and gave the stock a “neutral” rating in a research note on Thursday, February 22nd. Finally, Oppenheimer reissued a “market perform” rating on shares of Cheesecake Factory in a report on Thursday, February 22nd. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $34.60.

Cheesecake Factory Stock Performance

NASDAQ CAKE opened at $34.63 on Tuesday. The company has a 50-day simple moving average of $35.19 and a two-hundred day simple moving average of $33.95. The Cheesecake Factory Incorporated has a 12-month low of $28.58 and a 12-month high of $38.19. The firm has a market cap of $1.77 billion, a price-to-earnings ratio of 16.81, a PEG ratio of 1.12 and a beta of 1.48. The company has a quick ratio of 0.37, a current ratio of 0.46 and a debt-to-equity ratio of 1.48.

Cheesecake Factory (NASDAQ:CAKE) last issued its earnings results on Wednesday, February 21st. The restaurant operator reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.07. The company had revenue of $877.00 million during the quarter, compared to analysts’ expectations of $876.17 million. Cheesecake Factory had a return on equity of 41.66% and a net margin of 2.95%. Cheesecake Factory’s quarterly revenue was down 1.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.56 EPS. On average, equities analysts forecast that The Cheesecake Factory Incorporated will post 3.06 EPS for the current year.

Cheesecake Factory Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 19th. Investors of record on Wednesday, March 6th were issued a dividend of $0.27 per share. The ex-dividend date of this dividend was Tuesday, March 5th. This represents a $1.08 dividend on an annualized basis and a yield of 3.12%. Cheesecake Factory’s dividend payout ratio is currently 52.43%.

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.