PNC Financial Services Group Inc. raised its stake in shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE) by 85.1% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,332 shares of the restaurant operator’s stock after buying an additional 2,912 shares during the quarter. PNC Financial Services Group Inc.’s holdings in The Cheesecake Factory were worth $319,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the business. Laurion Capital Management LP acquired a new stake in shares of The Cheesecake Factory during the second quarter worth $2,626,000. Stevens Capital Management LP acquired a new stake in shares of The Cheesecake Factory during the second quarter worth $509,000. BlueMountain Capital Management LLC acquired a new stake in shares of The Cheesecake Factory during the second quarter worth $243,000. Amalgamated Bank boosted its holdings in shares of The Cheesecake Factory by 3.4% during the second quarter. Amalgamated Bank now owns 6,433 shares of the restaurant operator’s stock worth $324,000 after purchasing an additional 211 shares during the last quarter. Finally, Nationwide Fund Advisors boosted its holdings in shares of The Cheesecake Factory by 20.5% during the second quarter. Nationwide Fund Advisors now owns 120,778 shares of the restaurant operator’s stock worth $6,075,000 after purchasing an additional 20,525 shares during the last quarter. Hedge funds and other institutional investors own 96.14% of the company’s stock.

Several equities research analysts have recently issued reports on CAKE shares. TheStreet cut The Cheesecake Factory from a “b-” rating to a “c+” rating in a report on Friday, August 25th. Maxim Group restated a “buy” rating and set a $57.00 price objective on shares of The Cheesecake Factory in a report on Tuesday, September 12th. Nomura started coverage on The Cheesecake Factory in a report on Wednesday, July 12th. They set a “neutral” rating and a $50.00 price objective on the stock. Instinet started coverage on The Cheesecake Factory in a report on Wednesday, July 12th. They set a “neutral” rating and a $50.00 price objective on the stock. Finally, Robert W. Baird restated a “hold” rating and set a $49.00 price objective on shares of The Cheesecake Factory in a report on Friday, September 8th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have given a buy rating to the company. The Cheesecake Factory currently has a consensus rating of “Hold” and an average price target of $52.12.

The Cheesecake Factory Incorporated (NASDAQ:CAKE) opened at 43.96 on Friday. The firm has a 50-day moving average price of $41.42 and a 200 day moving average price of $50.69. The Cheesecake Factory Incorporated has a 52-week low of $38.34 and a 52-week high of $67.14. The stock has a market capitalization of $2.02 billion, a price-to-earnings ratio of 15.38 and a beta of 0.32.

The Cheesecake Factory (NASDAQ:CAKE) last posted its quarterly earnings results on Wednesday, August 2nd. The restaurant operator reported $0.78 EPS for the quarter, beating the 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 for the quarter, compared to analysts’ expectations of $573.12 million. During the same period in the previous year, the company posted $0.78 EPS. The Cheesecake Factory’s revenue was up 2.0% on a year-over-year basis. On average, equities research analysts predict that The Cheesecake Factory Incorporated will post $2.65 EPS for the current 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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