Vident Investment Advisory LLC Takes Position in Cheesecake Factory Inc (CAKE)

Vident Investment Advisory LLC bought a new position in Cheesecake Factory Inc (NASDAQ:CAKE) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 6,094 shares of the restaurant operator’s stock, valued at approximately $257,000.

Other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Cheesecake Factory by 3.6% during the 2nd quarter. Vanguard Group Inc. now owns 4,171,917 shares of the restaurant operator’s stock valued at $209,847,000 after purchasing an additional 146,756 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its stake in shares of Cheesecake Factory by 54.8% during the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,457,364 shares of the restaurant operator’s stock worth $103,504,000 after acquiring an additional 869,579 shares in the last quarter. State Street Corp boosted its position in shares of Cheesecake Factory by 4.3% in the second quarter. State Street Corp now owns 1,526,476 shares of the restaurant operator’s stock worth $76,779,000 after buying an additional 63,301 shares during the period. Macquarie Group Ltd. boosted its position in shares of Cheesecake Factory by 7.5% in the third quarter. Macquarie Group Ltd. now owns 1,453,386 shares of the restaurant operator’s stock worth $61,216,000 after buying an additional 101,513 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Cheesecake Factory by 8.8% during the third quarter. Dimensional Fund Advisors LP now owns 1,322,377 shares of the restaurant operator’s stock worth $55,698,000 after acquiring an additional 106,475 shares in the last quarter. Institutional investors and hedge funds own 97.47% of the company’s stock.

Shares of Cheesecake Factory Inc (CAKE) traded up $0.88 during mid-day trading on Thursday, hitting $48.12. 1,050,400 shares of the stock traded hands, compared to its average volume of 1,083,594. The firm has a market cap of $2,200.00, a price-to-earnings ratio of 17.76, a price-to-earnings-growth ratio of 1.31 and a beta of 0.33. The company has a quick ratio of 0.37, a current ratio of 0.51 and a debt-to-equity ratio of 0.05. Cheesecake Factory Inc has a one year low of $38.34 and a one year high of $67.14.

Cheesecake Factory (NASDAQ:CAKE) last announced its earnings results on Wednesday, November 1st. The restaurant operator reported $0.56 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.60 by ($0.04). Cheesecake Factory had a return on equity of 21.65% and a net margin of 5.76%. The company had revenue of $555.40 million during the quarter, compared to analyst estimates of $566.09 million. During the same period in the previous year, the company posted $0.70 earnings per share. Cheesecake Factory’s revenue for the quarter was down .8% on a year-over-year basis. sell-side analysts predict that Cheesecake Factory Inc will post 2.6 earnings per share for the current year.

Several analysts recently issued reports on the company. Zacks Investment Research upgraded Cheesecake Factory from a “sell” rating to a “hold” rating in a report on Thursday, January 4th. Piper Jaffray Companies raised their target price on Cheesecake Factory from $45.00 to $52.00 and gave the company an “overweight” rating in a report on Monday. Canaccord Genuity restated a “hold” rating and set a $54.00 target price on shares of Cheesecake Factory in a report on Monday. TheStreet raised Cheesecake Factory from a “c+” rating to a “b” rating in a research report on Friday, January 5th. Finally, Barclays lowered their price target on Cheesecake Factory from $46.00 to $43.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 2nd. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $48.56.

In other Cheesecake Factory news, VP Debby R. Zurzolo sold 2,306 shares of the stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $44.75, for a total transaction of $103,193.50. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Herbert Simon bought 25,000 shares of the firm’s stock in a transaction on Monday, November 6th. The shares were acquired at an average price of $43.50 per share, for a total transaction of $1,087,500.00. The disclosure for this purchase can be found here. 8.40% of the stock is currently owned by corporate insiders.

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About Cheesecake Factory

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 Cheesecake Factory (NASDAQ:CAKE)

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