LS Investment Advisors LLC increased its position in shares of The Cheesecake Factory Inc. (NASDAQ:CAKE) by 66.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,740 shares of the company’s stock after buying an additional 1,090 shares during the period. LS Investment Advisors LLC’s holdings in The Cheesecake Factory were worth $132,000 as of its most recent SEC filing.
A number of other institutional investors also recently modified their holdings of CAKE. BlackRock Japan Co. Ltd increased its position in shares of The Cheesecake Factory by 28.8% in the first quarter. BlackRock Japan Co. Ltd now owns 2,128 shares of the company’s stock worth $113,000 after buying an additional 476 shares during the last quarter. Bessemer Group Inc. increased its position in shares of The Cheesecake Factory by 2,510.0% in the first quarter. Bessemer Group Inc. now owns 2,610 shares of the company’s stock worth $139,000 after buying an additional 2,510 shares during the last quarter. M&T Bank Corp bought a new position in shares of The Cheesecake Factory during the first quarter worth approximately $209,000. Virginia Retirement System bought a new position in shares of The Cheesecake Factory during the first quarter worth approximately $478,000. Finally, Schonfeld Strategic Advisors LLC bought a new position in shares of The Cheesecake Factory during the first quarter worth approximately $539,000. Institutional investors own 89.48% of the company’s stock.
Shares of The Cheesecake Factory Inc. (NASDAQ:CAKE) traded up 0.95% during midday trading on Friday, reaching $50.06. The company had a trading volume of 562,794 shares. The Cheesecake Factory Inc. has a 12 month low of $44.16 and a 12 month high of $55.53. The company has a market capitalization of $2.32 billion, a P/E ratio of 19.97 and a beta of 0.45. The firm’s 50 day moving average price is $51.24 and its 200-day moving average price is $50.91.
The Cheesecake Factory (NASDAQ:CAKE) last announced its quarterly earnings data on Wednesday, July 27th. The company reported $0.78 EPS for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.07. The business earned $558.86 million during the quarter, compared to analyst estimates of $562.96 million. The Cheesecake Factory had a net margin of 5.81% and a return on equity of 22.04%. The firm’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.69 earnings per share. Analysts anticipate that The Cheesecake Factory Inc. will post $2.75 earnings per share for the current fiscal year.
CAKE has been the subject of a number of research reports. Zacks Investment Research upgraded The Cheesecake Factory from a “hold” rating to a “buy” rating and set a $58.00 target price for the company in a research note on Tuesday, September 27th. Barclays PLC lifted their target price on The Cheesecake Factory from $53.00 to $54.00 and gave the company an “equal weight” rating in a research note on Thursday, July 28th. Canaccord Genuity initiated coverage on The Cheesecake Factory in a research note on Monday, August 22nd. They issued a “hold” rating and a $54.00 target price for the company. Robert W. Baird restated a “neutral” rating on shares of The Cheesecake Factory in a research note on Thursday, September 8th. Finally, Stifel Nicolaus downgraded The Cheesecake Factory from a “buy” rating to a “sell” rating and decreased their target price for the company from $65.00 to $43.00 in a research note on Tuesday, July 26th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. The Cheesecake Factory presently has an average rating of “Hold” and a consensus price target of $54.73.
In other news, CFO Doug Benn sold 6,512 shares of the company’s stock in a transaction dated Monday, July 25th. The shares were sold at an average price of $53.00, for a total transaction of $345,136.00. Following the completion of the transaction, the chief financial officer now owns 51,344 shares of the company’s stock, valued at $2,721,232. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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. The Company operates approximately 200 Company-owned restaurants, including approximately 190 restaurants under The Cheesecake Factory mark and approximately 10 restaurants under the Grand Lux Cafe mark. The Company’s segments include The Cheesecake Factory restaurants, and other, which includes Grand Lux Cafe, RockSugar Pan Asian Kitchen, bakery and international licensing.
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