The Cheesecake Factory Incorporated (NASDAQ:CAKE) Shares Bought by Verition Fund Management LLC

Verition Fund Management LLC lifted its stake in The Cheesecake Factory Incorporated (NASDAQ:CAKE) by 148.1% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 11,442 shares of the restaurant operator’s stock after acquiring an additional 6,831 shares during the quarter. Verition Fund Management LLC’s holdings in The Cheesecake Factory were worth $576,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Alps Advisors Inc. increased its position in The Cheesecake Factory by 0.3% during the second quarter. Alps Advisors Inc. now owns 7,791 shares of the restaurant operator’s stock worth $392,000 after buying an additional 20 shares during the last quarter. Bank of Montreal Can increased its position in The Cheesecake Factory by 0.5% during the second quarter. Bank of Montreal Can now owns 5,152 shares of the restaurant operator’s stock worth $259,000 after buying an additional 24 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in The Cheesecake Factory by 0.4% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 6,510 shares of the restaurant operator’s stock worth $327,000 after buying an additional 26 shares during the last quarter. Northwestern Mutual Investment Management Company LLC increased its position in The Cheesecake Factory by 0.7% during the second quarter. Northwestern Mutual Investment Management Company LLC now owns 7,704 shares of the restaurant operator’s stock worth $371,000 after buying an additional 55 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its position in The Cheesecake Factory by 3.3% during the first quarter. PNC Financial Services Group Inc. now owns 3,420 shares of the restaurant operator’s stock worth $218,000 after buying an additional 109 shares during the last quarter. 96.15% of the stock is currently owned by hedge funds and other institutional investors.

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A number of equities research analysts have recently issued reports on the company. Instinet assumed coverage on The Cheesecake Factory in a report on Wednesday, July 12th. They set a “neutral” rating and a $50.00 price objective for the company. Robert W. Baird set a $49.00 price objective on The Cheesecake Factory and gave the stock a “hold” rating in a report on Thursday, August 3rd. Barclays PLC restated an “equal weight” rating and set a $48.00 price objective (down previously from $53.00) on shares of The Cheesecake Factory in a report on Thursday, August 3rd. Canaccord Genuity restated a “hold” rating on shares of The Cheesecake Factory in a report on Friday, August 4th. Finally, Maxim Group reiterated a “buy” rating and issued a $57.00 price target (down from $65.00) on shares of The Cheesecake Factory in a research note on Wednesday, August 9th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $51.41.

Shares of The Cheesecake Factory Incorporated (CAKE) traded up 2.4719% during midday trading on Friday, reaching $45.2721. 767,118 shares of the company traded hands. The Cheesecake Factory Incorporated has a 1-year low of $38.34 and a 1-year high of $67.14. The stock’s 50-day moving average is $41.62 and its 200-day moving average is $50.16. The stock has a market capitalization of $2.08 billion, a P/E ratio of 15.8349 and a beta of 0.32.

The Cheesecake Factory (NASDAQ:CAKE) last released its earnings results on Wednesday, August 2nd. The restaurant operator reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.02. The Cheesecake Factory had a return on equity of 22.92% and a net margin of 6.10%. The company had revenue of $569.87 million during the quarter, compared to the consensus estimate of $573.12 million. During the same quarter last year, the company earned $0.78 earnings per share. The Cheesecake Factory’s quarterly revenue was up 2.0% compared to the same quarter last year. Equities analysts predict that The Cheesecake Factory Incorporated will post $2.65 EPS for the current fiscal year.

The Cheesecake Factory Profile

The Cheesecake Factory Incorporated is engaged in the restaurant and bakery business. As of March 2, 2017, the Company operated 208 Company-owned restaurants: 194 under The Cheesecake Factory mark, 13 under the Grand Lux Cafe mark and one under the Rock Sugar Pan Asian Kitchen mark. The Company’s segments include The Cheesecake Factory restaurants, and other.

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

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