First Mercantile Trust Co. reduced its position in shares of The Cheesecake Factory Inc. (NASDAQ:CAKE) by 0.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,905 shares of the company’s stock after selling 50 shares during the period. First Mercantile Trust Co.’s holdings in The Cheesecake Factory were worth $333,000 at the end of the most recent quarter.
Other large investors have also made changes to their positions in the company. Landscape Capital Management L.L.C. purchased a new stake in shares of The Cheesecake Factory during the first quarter valued at approximately $1,493,000. Bessemer Group Inc. raised its stake 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 valued at $139,000 after buying an additional 2,510 shares during the period. Findlay Park Partners LLP raised its stake in shares of The Cheesecake Factory by 2,875.7% in the first quarter. Findlay Park Partners LLP now owns 1,091,948 shares of the company’s stock valued at $57,972,000 after buying an additional 1,055,253 shares during the period. BlackRock Japan Co. Ltd raised its stake 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 valued at $113,000 after buying an additional 476 shares during the period. Finally, BlackRock Institutional Trust Company N.A. raised its stake in shares of The Cheesecake Factory by 5.7% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,489,463 shares of the company’s stock valued at $79,076,000 after buying an additional 80,134 shares during the period. 89.48% of the stock is currently owned by institutional investors.
The Cheesecake Factory Inc. (NASDAQ:CAKE) opened at 49.59 on Friday. The company has a market capitalization of $2.30 billion, a P/E ratio of 19.78 and a beta of 0.45. The firm has a 50 day moving average of $51.28 and a 200-day moving average of $50.94. The Cheesecake Factory Inc. has a 52 week low of $44.16 and a 52 week high of $55.53.
The Cheesecake Factory (NASDAQ:CAKE) last released its quarterly earnings data on Wednesday, July 27th. The company reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.07. The company 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 Cheesecake Factory’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.69 EPS. On average, analysts forecast that The Cheesecake Factory Inc. will post $2.75 earnings per share for the current year.
CAKE has been the topic of several research analyst reports. Zacks Investment Research raised The Cheesecake Factory from a “hold” rating to a “buy” rating and set a $58.00 price target on the stock in a research note on Tuesday. Robert W. Baird reaffirmed a “neutral” rating on shares of The Cheesecake Factory in a research note on Thursday, September 8th. Canaccord Genuity assumed coverage on The Cheesecake Factory in a research note on Monday, August 22nd. They issued a “hold” rating and a $54.00 target price on the stock. Barclays PLC upped 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. Finally, Stifel Nicolaus lowered The Cheesecake Factory from a “buy” rating to a “sell” rating and reduced their target price for the company from $65.00 to $43.00 in a research note on Tuesday, July 26th. One research 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 company currently has a consensus rating of “Hold” and an average price target of $54.73.
In related news, CFO Doug Benn sold 6,512 shares of The Cheesecake Factory stock in a transaction on Monday, July 25th. The shares were sold at an average price of $53.00, for a total value of $345,136.00. Following the completion of the sale, the chief financial officer now owns 51,344 shares of the company’s stock, valued at approximately $2,721,232. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 8.50% of the stock is currently owned by insiders.
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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