UBS Asset Management Americas Inc. boosted its holdings in The Cheesecake Factory Incorporated (NASDAQ:CAKE) by 52.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 77,063 shares of the restaurant operator’s stock after buying an additional 26,405 shares during the period. UBS Asset Management Americas Inc. owned 0.17% of The Cheesecake Factory worth $2,856,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of the business. BlackRock Inc. boosted its holdings in shares of The Cheesecake Factory by 3.3% in the 4th quarter. BlackRock Inc. now owns 7,532,836 shares of the restaurant operator’s stock valued at $279,169,000 after purchasing an additional 238,963 shares during the last quarter. Bamco Inc. NY raised its position in shares of The Cheesecake Factory by 13.8% in the 4th quarter. Bamco Inc. NY now owns 1,895,000 shares of the restaurant operator’s stock worth $70,229,000 after buying an additional 230,000 shares during the period. Wells Fargo & Company MN boosted its holdings in The Cheesecake Factory by 2.4% in the fourth quarter. Wells Fargo & Company MN now owns 889,786 shares of the restaurant operator’s stock valued at $32,975,000 after acquiring an additional 20,717 shares during the last quarter. Northern Trust Corp grew its position in The Cheesecake Factory by 0.8% during the fourth quarter. Northern Trust Corp now owns 690,414 shares of the restaurant operator’s stock valued at $25,586,000 after acquiring an additional 5,689 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in The Cheesecake Factory by 2.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 584,448 shares of the restaurant operator’s stock worth $21,660,000 after acquiring an additional 15,744 shares during the last quarter. 93.07% of the stock is currently owned by hedge funds and other institutional investors.
In other The Cheesecake Factory news, CFO Matthew Eliot Clark sold 4,000 shares of the firm’s stock in a transaction that occurred on Friday, March 12th. The shares were sold at an average price of $58.29, for a total value of $233,160.00. Following the sale, the chief financial officer now owns 18,370 shares in the company, valued at $1,070,787.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 8.50% of the company’s stock.
The Cheesecake Factory (NASDAQ:CAKE) last issued its quarterly earnings data on Tuesday, February 16th. The restaurant operator reported ($0.32) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.04) by ($0.28). The company had revenue of $554.55 million for the quarter, compared to the consensus estimate of $603.93 million. The Cheesecake Factory had a negative return on equity of 8.77% and a negative net margin of 1.89%. During the same quarter in the previous year, the company earned $0.58 earnings per share. As a group, equities research analysts expect that The Cheesecake Factory Incorporated will post -1.2 earnings per share for the current year.
Several research analysts recently commented on the stock. Morgan Stanley raised their price target on shares of The Cheesecake Factory from $36.00 to $41.00 and gave the company an “underweight” rating in a report on Thursday, April 1st. Stephens lifted their target price on shares of The Cheesecake Factory from $36.00 to $42.00 and gave the company an “equal weight” rating in a report on Thursday, February 25th. Wedbush raised their price objective on The Cheesecake Factory from $55.00 to $64.00 and gave the company an “outperform” rating in a research report on Wednesday, March 17th. Telsey Advisory Group boosted their price objective on The Cheesecake Factory from $45.00 to $62.00 and gave the stock a “market perform” rating in a research note on Wednesday. Finally, Piper Sandler increased their target price on The Cheesecake Factory from $38.00 to $52.00 and gave the company an “overweight” rating in a research note on Thursday, February 18th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and five have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $41.13.
The Cheesecake Factory Profile
The Cheesecake Factory Incorporated operates restaurants. The company produces cheesecakes and other baked products for its restaurants, international licensees, and third-party bakery customers, as well as external foodservice operators, retailers, and distributors. It owns and operates 294 restaurants throughout the United States and Canada under brands, including The Cheesecake Factory and North Italia; and a collection of Fox Restaurant Concepts, as well as 27 The Cheesecake Factory restaurants under licensing agreements internationally.
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