Price T Rowe Associates Inc. MD cut its holdings in The Cheesecake Factory Incorporated (NASDAQ:CAKE) by 4.1% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 26,784 shares of the restaurant operator’s stock after selling 1,147 shares during the period. Price T Rowe Associates Inc. MD owned about 0.05% of Cheesecake Factory worth $1,451,000 at the end of the most recent reporting period.
Other institutional investors have also bought and sold shares of the company. State of Alaska Department of Revenue increased its holdings in shares of Cheesecake Factory by 11.8% in the 2nd quarter. State of Alaska Department of Revenue now owns 31,925 shares of the restaurant operator’s stock worth $1,729,000 after buying an additional 3,380 shares during the last quarter. Border to Coast Pensions Partnership Ltd bought a new stake in shares of Cheesecake Factory in the 2nd quarter worth about $10,414,230,000. Citigroup Inc. increased its holdings in shares of Cheesecake Factory by 80.0% in the 2nd quarter. Citigroup Inc. now owns 57,136 shares of the restaurant operator’s stock worth $3,096,000 after buying an additional 25,392 shares during the last quarter. Morgan Stanley increased its holdings in shares of Cheesecake Factory by 7.2% in the 2nd quarter. Morgan Stanley now owns 356,633 shares of the restaurant operator’s stock worth $19,322,000 after buying an additional 23,808 shares during the last quarter. Finally, Qube Research & Technologies Ltd bought a new stake in shares of Cheesecake Factory in the 2nd quarter worth about $1,211,000. Hedge funds and other institutional investors own 82.49% of the company’s stock.
In other Cheesecake Factory news, Director Edie A. Ames purchased 1,650 shares of the stock in a transaction dated Wednesday, November 10th. The stock was purchased at an average price of $45.12 per share, with a total value of $74,448.00. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. 8.70% of the stock is currently owned by corporate insiders.
Cheesecake Factory (NASDAQ:CAKE) last announced its quarterly earnings results on Wednesday, November 3rd. The restaurant operator reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.70 by ($0.05). Cheesecake Factory had a return on equity of 25.01% and a net margin of 1.40%. The business had revenue of $754.50 million during the quarter, compared to analysts’ expectations of $763.45 million. During the same period in the previous year, the company posted ($0.33) EPS. Cheesecake Factory’s revenue for the quarter was up 45.7% on a year-over-year basis. Equities research analysts forecast that The Cheesecake Factory Incorporated will post 2.26 EPS for the current year.
Several equities analysts recently commented on the stock. Stephens upped their price target on shares of Cheesecake Factory from $50.00 to $53.00 and gave the company an “equal weight” rating in a report on Friday, November 5th. Wells Fargo & Company cut their price target on shares of Cheesecake Factory from $59.00 to $55.00 and set an “overweight” rating on the stock in a report on Thursday, November 4th. Wedbush cut their price target on shares of Cheesecake Factory from $55.00 to $50.00 and set an “outperform” rating on the stock in a report on Thursday, October 28th. Barclays cut their price target on shares of Cheesecake Factory from $46.00 to $40.00 and set an “underweight” rating on the stock in a report on Thursday, November 4th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Cheesecake Factory from $64.00 to $49.00 and set a “neutral” rating for the company in a research report on Thursday, August 19th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Cheesecake Factory currently has a consensus rating of “Hold” and a consensus price target of $52.68.
About Cheesecake Factory
Cheesecake Factory, Inc engages in the operation of restaurant chains. It operates through The Cheesecake Factory, North Italia, Other FRC and Other segments. The Cheesecake Factory segment offers appetizers, pizza, seafood, steaks, chicken, burgers, small plates, pastas, salads, sandwiches and omelettes, and a selection of gluten-free items.
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