5,312 Shares of The Cheesecake Factory Incorporated $CAKE Acquired by Oakmont Investment Advisors Inc.

Oakmont Investment Advisors Inc. purchased a new position in shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE) during the 3rd quarter, Holdings Channel reports. The institutional investor purchased 5,312 shares of the restaurant operator’s stock, valued at approximately $559,000.

A number of other hedge funds have also bought and sold shares of the company. Money Concepts Capital Corp increased its holdings in Cheesecake Factory by 3.8% in the first quarter. Money Concepts Capital Corp now owns 5,802 shares of the restaurant operator’s stock valued at $318,000 after buying an additional 210 shares during the last quarter. NFSG Corp raised its stake in Cheesecake Factory by 115.8% during the first quarter. NFSG Corp now owns 682 shares of the restaurant operator’s stock valued at $37,000 after buying an additional 366 shares in the last quarter. Abel Hall LLC raised its stake in Cheesecake Factory by 8.5% during the first quarter. Abel Hall LLC now owns 4,672 shares of the restaurant operator’s stock valued at $256,000 after buying an additional 367 shares in the last quarter. Swiss National Bank lifted its holdings in Cheesecake Factory by 0.4% during the 1st quarter. Swiss National Bank now owns 93,700 shares of the restaurant operator’s stock worth $5,130,000 after buying an additional 400 shares during the last quarter. Finally, Allworth Financial LP bought a new position in Cheesecake Factory during the 2nd quarter worth approximately $36,000. 94.48% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, President David M. Gordon sold 31,950 shares of the stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $110.03, for a total transaction of $3,515,458.50. Following the sale, the president directly owned 26,875 shares in the company, valued at approximately $2,957,056.25. This represents a 54.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Matthew Clark sold 68,900 shares of the stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $99.30, for a total value of $6,841,770.00. Following the sale, the chief financial officer owned 45,109 shares in the company, valued at $4,479,323.70. The trade was a 60.43% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 213,749 shares of company stock valued at $22,301,899 over the last 90 days. 8.00% of the stock is owned by corporate insiders.

Analyst Ratings Changes

CAKE has been the subject of several research reports. Mizuho lifted their target price on Cheesecake Factory from $85.00 to $93.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 29th. Wells Fargo & Company upped their price target on Cheesecake Factory from $105.00 to $110.00 and gave the company an “equal weight” rating in a research report on Wednesday. Argus upped their price target on Cheesecake Factory from $72.00 to $110.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. Stephens raised their price objective on Cheesecake Factory from $93.00 to $100.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 15th. Finally, Bank of America lifted their price objective on shares of Cheesecake Factory from $66.00 to $79.00 and gave the stock a “neutral” rating in a report on Thursday, July 2nd. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $90.67.

Cheesecake Factory Price Performance

Shares of NASDAQ:CAKE opened at $114.39 on Thursday. The company has a quick ratio of 0.52, a current ratio of 0.59 and a debt-to-equity ratio of 1.08. The Cheesecake Factory Incorporated has a fifty-two week low of $43.07 and a fifty-two week high of $118.63. The firm has a 50-day simple moving average of $107.82 and a 200 day simple moving average of $85.87. The company has a market cap of $5.69 billion, a PE ratio of 31.00, a P/E/G ratio of 1.87 and a beta of 1.04.

Cheesecake Factory (NASDAQ:CAKE) last released its quarterly earnings data on Tuesday, July 28th. The restaurant operator reported $1.44 earnings per share for the quarter, topping the consensus estimate of $1.18 by $0.26. Cheesecake Factory had a net margin of 4.61% and a return on equity of 43.97%. The firm had revenue of $1.03 billion for the quarter, compared to analyst estimates of $999.54 million. During the same quarter in the prior year, the business earned $1.16 earnings per share. Cheesecake Factory’s quarterly revenue was up 7.7% on a year-over-year basis. On average, sell-side analysts anticipate that The Cheesecake Factory Incorporated will post 4.63 EPS for the current year.

Cheesecake Factory Profile

The Cheesecake Factory Incorporated is a restaurant company best known for The Cheesecake Factory, a full-service casual dining brand offering an extensive menu of American and international-inspired dishes, along with a broad selection of cheesecakes and other desserts. The company also operates North Italia, an Italian restaurant concept, and owns Fox Restaurant Concepts, which develops and operates additional restaurant brands, including Flower Child and Culinary Dropout.

The company was founded by David Overton, who opened the first Cheesecake Factory restaurant in Beverly Hills, California, in 1978 after his parents began a cheesecake business.