Cheesecake Factory Sees Unusually High Options Volume (CAKE)

Cheesecake Factory Inc (NASDAQ:CAKE) was the recipient of some unusual options trading on Wednesday. Investors acquired 2,573 call options on the stock. This represents an increase of approximately 871% compared to the average daily volume of 265 call options.

Several institutional investors have recently made changes to their positions in the stock. The Manufacturers Life Insurance Company raised its holdings in shares of Cheesecake Factory by 1.0% during the second quarter. The Manufacturers Life Insurance Company now owns 98,490 shares of the restaurant operator’s stock valued at $4,954,000 after acquiring an additional 983 shares in the last quarter. Victory Capital Management Inc. raised its holdings in shares of Cheesecake Factory by 6.5% during the fourth quarter. Victory Capital Management Inc. now owns 19,624 shares of the restaurant operator’s stock valued at $945,000 after acquiring an additional 1,191 shares in the last quarter. Envestnet Asset Management Inc. grew its stake in Cheesecake Factory by 5.4% in the third quarter. Envestnet Asset Management Inc. now owns 23,787 shares of the restaurant operator’s stock worth $1,002,000 after purchasing an additional 1,213 shares during the period. Systematic Financial Management LP grew its stake in Cheesecake Factory by 4.0% in the third quarter. Systematic Financial Management LP now owns 35,760 shares of the restaurant operator’s stock worth $1,506,000 after purchasing an additional 1,360 shares during the period. Finally, American International Group Inc. grew its stake in Cheesecake Factory by 1.2% in the third quarter. American International Group Inc. now owns 119,544 shares of the restaurant operator’s stock worth $5,035,000 after purchasing an additional 1,440 shares during the period. Institutional investors own 97.62% of the company’s stock.

Several analysts have weighed in on CAKE shares. Zacks Investment Research upgraded Cheesecake Factory from a “sell” rating to a “hold” rating in a research report on Friday, October 27th. Nomura lowered their price objective on Cheesecake Factory from $44.00 to $43.00 and set a “neutral” rating for the company in a research report on Friday, October 27th. Maxim Group lowered their price objective on Cheesecake Factory from $57.00 to $54.00 and set a “buy” rating for the company in a research report on Thursday, November 2nd. Canaccord Genuity lowered their price objective on Cheesecake Factory from $50.00 to $48.00 and set a “hold” rating for the company in a research report on Thursday, November 2nd. Finally, Morgan Stanley lowered their price objective on Cheesecake Factory from $48.00 to $44.00 and set an “equal weight” rating for the company in a research report on Thursday, November 2nd. Two investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and three have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $48.18.

Cheesecake Factory (NASDAQ CAKE) opened at $46.22 on Thursday. 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 capitalization of $2,088.27, a P/E ratio of 17.06, a P/E/G ratio of 1.16 and a beta of 0.33. Cheesecake Factory has a twelve month low of $38.34 and a twelve month high of $67.14.

Cheesecake Factory (NASDAQ:CAKE) last announced its earnings results on Wednesday, February 21st. The restaurant operator reported $0.53 EPS for the quarter, meeting analysts’ consensus estimates of $0.53. The company had revenue of $571.80 million during the quarter, compared to the consensus estimate of $567.80 million. Cheesecake Factory had a return on equity of 21.65% and a net margin of 5.76%. The firm’s revenue for the quarter was down 5.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.67 earnings per share. research analysts expect that Cheesecake Factory will post 2.6 EPS for the current year.

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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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