Envestnet Asset Management Inc. Sells 13,218 Shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE)

Envestnet Asset Management Inc. reduced its position in shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE - Free Report) by 3.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 421,551 shares of the restaurant operator's stock after selling 13,218 shares during the quarter. Envestnet Asset Management Inc. owned 0.85% of Cheesecake Factory worth $20,513,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. USA Financial Formulas acquired a new stake in shares of Cheesecake Factory during the 1st quarter worth about $49,000. Golden State Wealth Management LLC boosted its holdings in shares of Cheesecake Factory by 100.0% during the first quarter. Golden State Wealth Management LLC now owns 1,060 shares of the restaurant operator's stock worth $52,000 after acquiring an additional 530 shares during the period. FORA Capital LLC acquired a new position in Cheesecake Factory in the 4th quarter valued at $203,000. Mariner LLC bought a new position in Cheesecake Factory during the 4th quarter worth $213,000. Finally, Cibc World Markets Corp acquired a new stake in shares of Cheesecake Factory during the fourth quarter worth $214,000. 94.48% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Cheesecake Factory news, EVP Scarlett May sold 20,800 shares of the business's stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $56.02, for a total transaction of $1,165,216.00. Following the completion of the sale, the executive vice president owned 22,872 shares in the company, valued at approximately $1,281,289.44. The trade was a 47.63% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Matthew Eliot Clark sold 42,900 shares of the firm's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $56.00, for a total transaction of $2,402,400.00. Following the completion of the transaction, the chief financial officer directly owned 40,878 shares in the company, valued at approximately $2,289,168. The trade was a 51.21% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 133,000 shares of company stock worth $7,456,992. Corporate insiders own 8.40% of the company's stock.

Cheesecake Factory Trading Up 1.2%

Shares of NASDAQ CAKE traded up $0.77 during midday trading on Friday, reaching $62.68. The stock had a trading volume of 1,408,147 shares, compared to its average volume of 1,256,995. The Cheesecake Factory Incorporated has a twelve month low of $33.50 and a twelve month high of $65.99. The company's 50 day moving average price is $58.53 and its 200 day moving average price is $53.08. The firm has a market cap of $3.10 billion, a price-to-earnings ratio of 19.65, a price-to-earnings-growth ratio of 1.58 and a beta of 1.16. The company has a debt-to-equity ratio of 1.85, a quick ratio of 0.43 and a current ratio of 0.53.

Cheesecake Factory (NASDAQ:CAKE - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The restaurant operator reported $0.93 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.81 by $0.12. Cheesecake Factory had a return on equity of 46.06% and a net margin of 4.33%. The firm had revenue of $927.20 million for the quarter, compared to analysts' expectations of $927.17 million. During the same period in the prior year, the business earned $0.73 EPS. The company's revenue for the quarter was up 4.0% compared to the same quarter last year. As a group, sell-side analysts expect that The Cheesecake Factory Incorporated will post 3.71 EPS for the current year.

Cheesecake Factory Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 27th. Investors of record on Wednesday, May 14th were paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 1.72%. The ex-dividend date was Wednesday, May 14th. Cheesecake Factory's dividend payout ratio (DPR) is currently 33.86%.

Analyst Ratings Changes

A number of equities analysts recently commented on CAKE shares. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $67.00 price target (up from $66.00) on shares of Cheesecake Factory in a research report on Thursday, July 10th. JPMorgan Chase & Co. lifted their price target on shares of Cheesecake Factory from $50.00 to $58.00 and gave the company an "underweight" rating in a research report on Wednesday, June 25th. Citigroup cut their price target on Cheesecake Factory from $67.00 to $62.00 and set a "buy" rating for the company in a research note on Tuesday, April 15th. Barclays raised their target price on shares of Cheesecake Factory from $45.00 to $57.00 and gave the company an "underweight" rating in a report on Thursday. Finally, Wells Fargo & Company boosted their price target on Cheesecake Factory from $50.00 to $60.00 and gave the stock an "equal weight" rating in a report on Thursday. Four analysts have rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $59.38.

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.