Millennium Management LLC trimmed its position in shares of Cheesecake Factory Inc (NASDAQ:CAKE) by 66.6% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 388,105 shares of the restaurant operator’s stock after selling 775,484 shares during the quarter. Millennium Management LLC’s holdings in Cheesecake Factory were worth $18,714,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. Darrell & King LLC bought a new stake in Cheesecake Factory during the 1st quarter valued at approximately $256,000. Bayesian Capital Management LP bought a new stake in Cheesecake Factory during the 1st quarter valued at approximately $212,000. Ladenburg Thalmann Financial Services Inc. boosted its position in Cheesecake Factory by 328.5% during the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,435 shares of the restaurant operator’s stock valued at $214,000 after acquiring an additional 3,400 shares in the last quarter. Raymond James Financial Services Advisors Inc. bought a new stake in Cheesecake Factory during the 4th quarter valued at approximately $256,000. Finally, Elkfork Partners LLC bought a new stake in Cheesecake Factory during the 4th quarter valued at approximately $267,000. 97.62% of the stock is currently owned by institutional investors and hedge funds.
In related news, Chairman David Overton sold 93,300 shares of the business’s stock in a transaction that occurred on Monday, April 30th. The shares were sold at an average price of $51.93, for a total value of $4,845,069.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Debby R. Zurzolo sold 14,229 shares of the business’s stock in a transaction that occurred on Tuesday, May 8th. The stock was sold at an average price of $53.74, for a total transaction of $764,666.46. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 133,110 shares of company stock valued at $6,953,971. 8.80% of the stock is owned by company insiders.
Several analysts have weighed in on the company. Telsey Advisory Group lifted their price objective on Cheesecake Factory from $48.00 to $52.00 and gave the company a “market perform” rating in a research report on Thursday, April 26th. Maxim Group lifted their price objective on Cheesecake Factory from $57.00 to $60.00 and gave the company a “buy” rating in a research report on Thursday, June 14th. Wedbush dropped their price target on Cheesecake Factory from $55.00 to $52.50 and set a “neutral” rating on the stock in a research report on Thursday, April 26th. BidaskClub raised Cheesecake Factory from a “sell” rating to a “hold” rating in a research report on Tuesday, March 6th. Finally, Bank of America boosted their price target on Cheesecake Factory from $52.00 to $55.00 and gave the stock a “neutral” rating in a research report on Thursday, June 14th. Seventeen equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Cheesecake Factory currently has an average rating of “Hold” and a consensus target price of $50.09.
Shares of NASDAQ CAKE opened at $55.76 on Tuesday. Cheesecake Factory Inc has a twelve month low of $38.34 and a twelve month high of $60.08. The company has a market capitalization of $2.52 billion, a P/E ratio of 22.66, a PEG ratio of 1.43 and a beta of 0.29. The company has a quick ratio of 0.36, a current ratio of 0.48 and a debt-to-equity ratio of 0.05.
Cheesecake Factory (NASDAQ:CAKE) last announced its quarterly earnings data on Wednesday, April 25th. The restaurant operator reported $0.56 earnings per share for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.12). Cheesecake Factory had a return on equity of 19.01% and a net margin of 6.49%. The firm had revenue of $590.69 million during the quarter, compared to analysts’ expectations of $583.76 million. During the same quarter in the previous year, the firm earned $0.72 earnings per share. Cheesecake Factory’s revenue was up 4.8% on a year-over-year basis. sell-side analysts expect that Cheesecake Factory Inc will post 2.68 earnings per share for the current fiscal year.
About Cheesecake Factory
The Cheesecake Factory Incorporated operates restaurants in the United States. The company produces cheesecakes and other baked products for own restaurants and international licensees, as well as external foodservice operators, retailers, and distributors. As of February 28, 2018, it operated 214 company-owned restaurants, including 199 restaurants under The Cheesecake Factory brand; 13 restaurants under the Grand Lux Cafe brand; and 2 restaurants under the RockSugar Southeast Asian Kitchen brand, as well as 20 The Cheesecake Factory branded restaurants under licensing agreements internationally.
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