Neuberger Berman Group LLC cut its position in shares of The Cheesecake Factory Inc. (NASDAQ:CAKE) by 2.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,388,958 shares of the company’s stock after selling 33,786 shares during the period. Neuberger Berman Group LLC’s holdings in The Cheesecake Factory were worth $69,531,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in CAKE. Victory Capital Management Inc. boosted its stake in shares of The Cheesecake Factory by 77.3% in the second quarter. Victory Capital Management Inc. now owns 2,191 shares of the company’s stock worth $105,000 after buying an additional 955 shares during the last quarter. Huntington National Bank boosted its stake in shares of The Cheesecake Factory by 93.1% in the second quarter. Huntington National Bank now owns 2,346 shares of the company’s stock worth $113,000 after buying an additional 1,131 shares during the last quarter. LS Investment Advisors LLC boosted its stake in shares of The Cheesecake Factory by 66.1% in the second quarter. LS Investment Advisors LLC now owns 2,740 shares of the company’s stock worth $132,000 after buying an additional 1,090 shares during the last quarter. Wagner Bowman Management Corp boosted its stake in shares of The Cheesecake Factory by 0.8% in the second quarter. Wagner Bowman Management Corp now owns 4,240 shares of the company’s stock worth $204,000 after buying an additional 35 shares during the last quarter. Finally, Parametrica Management Ltd acquired a new stake in shares of The Cheesecake Factory during the second quarter worth approximately $207,000. 91.83% of the stock is owned by hedge funds and other institutional investors.

Institutional Ownership by Quarter for The Cheesecake Factory (NASDAQ:CAKE)

The Cheesecake Factory Inc. (NASDAQ:CAKE) opened at 59.13 on Wednesday. The stock has a market cap of $2.71 billion, a P/E ratio of 21.92 and a beta of 0.15. The company’s 50 day moving average is $54.02 and its 200 day moving average is $51.36. The Cheesecake Factory Inc. has a 52 week low of $44.16 and a 52 week high of $60.19.

The Cheesecake Factory (NASDAQ:CAKE) last issued its quarterly earnings data on Wednesday, October 26th. The company reported $0.70 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.61 by $0.09. The firm had revenue of $560 million for the quarter, compared to the consensus estimate of $356.58 million. The Cheesecake Factory had a net margin of 6.11% and a return on equity of 22.76%. The Cheesecake Factory’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same period last year, the firm posted $0.59 EPS. Equities analysts predict that The Cheesecake Factory Inc. will post $2.84 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 22nd. Investors of record on Wednesday, November 9th were given a $0.24 dividend. The ex-dividend date of this dividend was Monday, November 7th. This represents a $0.96 annualized dividend and a yield of 1.62%. The Cheesecake Factory’s dividend payout ratio is presently 35.56%.

COPYRIGHT VIOLATION NOTICE: This article was originally reported by Financial Market News and is the sole property of of Financial Market News. If you are reading this article on another domain, it was stolen and reposted in violation of international trademark & copyright legislation. The original version of this article can be viewed at http://www.financial-market-news.com/neuberger-berman-group-llc-sells-33786-shares-of-the-cheesecake-factory-inc-cake/1210559/.

CAKE has been the subject of a number of research reports. Maxim Group cut shares of The Cheesecake Factory from a “buy” rating to a “hold” rating and set a $59.00 target price for the company. in a report on Tuesday, November 15th. Robert W. Baird reaffirmed a “neutral” rating on shares of The Cheesecake Factory in a report on Thursday, September 8th. Argus raised shares of The Cheesecake Factory from a “hold” rating to a “buy” rating and set a $69.00 target price for the company in a report on Tuesday, November 15th. They noted that the move was a valuation call. Zacks Investment Research cut shares of The Cheesecake Factory from a “hold” rating to a “sell” rating in a report on Thursday, October 20th. Finally, Canaccord Genuity initiated coverage on shares of The Cheesecake Factory in a report on Monday, August 22nd. They issued a “hold” rating and a $54.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $56.26.

In related news, VP Debby R. Zurzolo sold 600 shares of The Cheesecake Factory stock in a transaction dated Tuesday, November 22nd. The shares were sold at an average price of $59.00, for a total value of $35,400.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Doug Benn sold 13,004 shares of The Cheesecake Factory stock in a transaction dated Thursday, November 10th. The shares were sold at an average price of $55.75, for a total transaction of $724,973.00. Following the completion of the sale, the chief financial officer now owns 52,332 shares in the company, valued at $2,917,509. The disclosure for this sale can be found here. 8.50% of the stock is currently owned by corporate insiders.

About The Cheesecake Factory

The Cheesecake Factory Incorporated is engaged in the restaurant and bakery business. The Company operates approximately 200 Company-owned restaurants, including approximately 190 restaurants under The Cheesecake Factory mark and approximately 10 restaurants under the Grand Lux Cafe mark. The Company’s segments include The Cheesecake Factory restaurants, and other, which includes Grand Lux Cafe, RockSugar Pan Asian Kitchen, bakery and international licensing.

5 Day Chart for NASDAQ:CAKE

Want to see what other hedge funds are holding CAKE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Cheesecake Factory Inc. (NASDAQ:CAKE).

Receive News & Ratings for The Cheesecake Factory Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Cheesecake Factory Inc. and related companies with MarketBeat.com's FREE daily email newsletter.