Royce & Associates LP continued to hold its position in shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE) during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 33,437 shares of the restaurant operator’s stock at the end of the first quarter. Royce & Associates LP owned approximately 0.07% of The Cheesecake Factory worth $2,119,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Russell Investments Group Ltd. acquired a new position in shares of The Cheesecake Factory during the fourth quarter worth about $6,593,000. Comerica Bank increased its position in shares of The Cheesecake Factory by 6.8% in the fourth quarter. Comerica Bank now owns 25,987 shares of the restaurant operator’s stock worth $1,570,000 after buying an additional 1,655 shares during the last quarter. FMR LLC acquired a new position in shares of The Cheesecake Factory during the fourth quarter worth about $5,988,000. Trexquant Investment LP acquired a new position in shares of The Cheesecake Factory during the fourth quarter worth about $293,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of The Cheesecake Factory during the fourth quarter worth about $200,000. 96.96% of the stock is currently owned by hedge funds and other institutional investors.
Shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE) opened at 50.63 on Tuesday. The Cheesecake Factory Incorporated has a 12 month low of $48.92 and a 12 month high of $67.14. The stock has a market cap of $2.33 billion, a PE ratio of 17.70 and a beta of 0.33. The firm has a 50-day moving average price of $55.93 and a 200-day moving average price of $60.19.
The Cheesecake Factory (NASDAQ:CAKE) last issued its quarterly earnings data on Wednesday, May 3rd. The restaurant operator reported $0.72 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.73 by $0.01. The company had revenue of $563.43 million during the quarter, compared to analyst estimates of $565.42 million. The Cheesecake Factory had a net margin of 6.15% and a return on equity of 23.35%. Equities analysts forecast that The Cheesecake Factory Incorporated will post $2.86 EPS for the current year.
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A number of research analysts have recently issued reports on CAKE shares. Zacks Investment Research raised The Cheesecake Factory from a “sell” rating to a “hold” rating in a report on Monday, March 20th. Maxim Group reaffirmed a “hold” rating and set a $65.00 price target (up from $59.00) on shares of The Cheesecake Factory in a report on Monday, May 1st. Jefferies Group LLC raised The Cheesecake Factory from an “underperform” rating to a “hold” rating and set a $52.00 price target on the stock in a report on Tuesday, June 13th. They noted that the move was a valuation call. BidaskClub raised The Cheesecake Factory from a “sell” rating to a “hold” rating in a report on Tuesday, June 13th. Finally, Telsey Advisory Group lowered their price target on The Cheesecake Factory from $66.00 to $62.00 and set an “outperform” rating on the stock in a report on Wednesday, June 14th. Four analysts have rated the stock with a sell rating, eleven have given a hold rating and four have issued a buy rating to the stock. The Cheesecake Factory currently has an average rating of “Hold” and a consensus price target of $56.82.
In related news, VP Debby R. Zurzolo sold 6,424 shares of the company’s stock in a transaction dated Thursday, June 1st. The stock was sold at an average price of $59.09, for a total value of $379,594.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Doug Benn sold 16,901 shares of the company’s stock in a transaction dated Monday, April 24th. The stock was sold at an average price of $64.02, for a total value of $1,082,002.02. Following the completion of the transaction, the chief financial officer now directly owns 70,261 shares of the company’s stock, valued at approximately $4,498,109.22. The disclosure for this sale can be found here. In the last three months, insiders sold 29,325 shares of company stock valued at $1,816,496. Insiders own 8.50% of the company’s stock.
The Cheesecake Factory Company 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.
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