Alliancebernstein L.P. cut its holdings in The Cheesecake Factory Incorporated (NASDAQ:CAKE) by 27.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 72,328 shares of the restaurant operator’s stock after selling 27,850 shares during the period. Alliancebernstein L.P. owned 0.16% of The Cheesecake Factory worth $3,638,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Alps Advisors Inc. boosted its holdings in The Cheesecake Factory by 0.3% in the 2nd quarter. Alps Advisors Inc. now owns 7,791 shares of the restaurant operator’s stock valued at $392,000 after purchasing an additional 20 shares during the period. Bank of Montreal Can boosted its holdings in The Cheesecake Factory by 0.5% in the 2nd quarter. Bank of Montreal Can now owns 5,152 shares of the restaurant operator’s stock valued at $259,000 after purchasing an additional 24 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in The Cheesecake Factory by 0.4% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 6,510 shares of the restaurant operator’s stock valued at $327,000 after purchasing an additional 26 shares during the period. Northwestern Mutual Investment Management Company LLC boosted its holdings in The Cheesecake Factory by 0.7% in the 2nd quarter. Northwestern Mutual Investment Management Company LLC now owns 7,704 shares of the restaurant operator’s stock valued at $371,000 after purchasing an additional 55 shares during the period. Finally, PNC Financial Services Group Inc. boosted its holdings in The Cheesecake Factory by 3.3% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,420 shares of the restaurant operator’s stock valued at $218,000 after purchasing an additional 109 shares during the period. 96.22% of the stock is owned by institutional investors.

Several research analysts have commented on the stock. Wedbush downgraded shares of The Cheesecake Factory from an “outperform” rating to a “neutral” rating and cut their price target for the company from $52.00 to $44.00 in a report on Tuesday, September 26th. BTIG Research reissued a “buy” rating and issued a $50.00 price target on shares of The Cheesecake Factory in a report on Wednesday, September 20th. Maxim Group reissued a “buy” rating and issued a $57.00 price target on shares of The Cheesecake Factory in a report on Tuesday, September 12th. Robert W. Baird reissued a “hold” rating and issued a $49.00 price target on shares of The Cheesecake Factory in a report on Friday, September 8th. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $46.00 price target on shares of The Cheesecake Factory in a report on Thursday, September 7th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $52.41.

The Cheesecake Factory Incorporated (NASDAQ:CAKE) opened at 41.33 on Friday. The stock has a market cap of $1.90 billion, a PE ratio of 14.46 and a beta of 0.32. The Cheesecake Factory Incorporated has a 12 month low of $38.34 and a 12 month high of $67.14. The company has a 50-day moving average of $41.07 and a 200-day moving average of $52.08.

The Cheesecake Factory (NASDAQ:CAKE) last released its quarterly earnings data on Wednesday, August 2nd. The restaurant operator reported $0.78 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.76 by $0.02. The Cheesecake Factory had a net margin of 6.10% and a return on equity of 22.92%. The business had revenue of $569.87 million during the quarter, compared to analyst estimates of $573.12 million. During the same quarter last year, the business earned $0.78 earnings per share. The Cheesecake Factory’s quarterly revenue was up 2.0% compared to the same quarter last year. On average, equities analysts forecast that The Cheesecake Factory Incorporated will post $2.65 EPS for the current fiscal year.

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About The Cheesecake Factory

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.

Institutional Ownership by Quarter for The Cheesecake Factory (NASDAQ:CAKE)

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