Ameriprise Financial Inc. lessened its stake in Cheesecake Factory Inc (NASDAQ:CAKE) by 44.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 125,850 shares of the restaurant operator’s stock after selling 101,175 shares during the period. Ameriprise Financial Inc. owned approximately 0.27% of Cheesecake Factory worth $5,301,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. Victory Capital Management Inc. boosted its stake in shares of Cheesecake Factory by 17.6% in the 2nd quarter. Victory Capital Management Inc. now owns 3,216 shares of the restaurant operator’s stock valued at $162,000 after purchasing an additional 482 shares in the last quarter. Riverhead Capital Management LLC boosted its stake in shares of Cheesecake Factory by 105.5% in the 2nd quarter. Riverhead Capital Management LLC now owns 3,493 shares of the restaurant operator’s stock valued at $176,000 after purchasing an additional 1,793 shares in the last quarter. Raymond James Financial Services Advisors Inc. purchased a new stake in shares of Cheesecake Factory in the 2nd quarter valued at $205,000. Advisors Asset Management Inc. boosted its stake in shares of Cheesecake Factory by 7.1% in the 2nd quarter. Advisors Asset Management Inc. now owns 4,834 shares of the restaurant operator’s stock valued at $243,000 after purchasing an additional 320 shares in the last quarter. Finally, BlueMountain Capital Management LLC purchased a new stake in shares of Cheesecake Factory in the 2nd quarter valued at $243,000. 97.47% of the stock is owned by institutional investors and hedge funds.
In other Cheesecake Factory news, Director Herbert Simon acquired 25,000 shares of the stock in a transaction dated Monday, November 6th. The shares were purchased at an average price of $43.50 per share, for a total transaction of $1,087,500.00. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Debby R. Zurzolo sold 2,415 shares of the stock in a transaction that occurred on Thursday, November 9th. The stock was sold at an average price of $44.20, for a total transaction of $106,743.00. The disclosure for this sale can be found here. Company insiders own 8.40% of the company’s stock.
Shares of Cheesecake Factory Inc (NASDAQ CAKE) opened at $48.18 on Friday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.37 and a current ratio of 0.51. The company has a market cap of $2,203.19, a PE ratio of 17.78, a P/E/G ratio of 1.25 and a beta of 0.33. Cheesecake Factory Inc has a 1 year low of $38.34 and a 1 year high of $67.14.
Cheesecake Factory (NASDAQ:CAKE) last announced its quarterly earnings results on Wednesday, November 1st. The restaurant operator reported $0.56 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.04). The company had revenue of $555.40 million for the quarter, compared to analysts’ expectations of $566.09 million. Cheesecake Factory had a net margin of 5.76% and a return on equity of 21.65%. The business’s revenue was down .8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.70 EPS. equities analysts predict that Cheesecake Factory Inc will post 2.6 earnings per share for the current fiscal year.
CAKE has been the subject of a number of recent analyst reports. Barclays lowered their price target on shares of Cheesecake Factory from $46.00 to $43.00 and set an “equal weight” rating for the company in a report on Thursday, November 2nd. Wells Fargo & Co lowered their price target on shares of Cheesecake Factory from $46.00 to $43.00 and set a “market perform” rating for the company in a report on Tuesday, October 24th. Wedbush lowered shares of Cheesecake Factory from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $52.00 to $44.00 in a report on Tuesday, September 26th. Canaccord Genuity lowered their price target on shares of Cheesecake Factory from $50.00 to $48.00 and set a “hold” rating for the company in a report on Thursday, November 2nd. Finally, Robert W. Baird restated a “hold” rating and issued a $46.00 price objective on shares of Cheesecake Factory in a report on Friday, November 3rd. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $48.56.
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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.
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