The Cheesecake Factory Incorporated (NASDAQ:CAKE) Sees Large Growth in Short Interest

The Cheesecake Factory Incorporated (NASDAQ:CAKE) was the recipient of a significant growth in short interest during the month of January. As of January 15th, there was short interest totaling 10,235,478 shares, a growth of 28.6% from the December 31st total of 7,961,649 shares. Approximately 22.3% of the company’s shares are sold short. Based on an average trading volume of 1,397,361 shares, the short-interest ratio is currently 7.3 days. Based on an average trading volume of 1,397,361 shares, the short-interest ratio is currently 7.3 days. Approximately 22.3% of the company’s shares are sold short.

Cheesecake Factory Stock Up 2.0%

CAKE traded up $1.20 during midday trading on Tuesday, hitting $59.80. The company had a trading volume of 811,770 shares, compared to its average volume of 1,248,215. The company has a market capitalization of $2.98 billion, a price-to-earnings ratio of 18.12, a PEG ratio of 1.47 and a beta of 0.97. The stock’s 50 day moving average price is $53.21 and its 200 day moving average price is $55.29. The company has a quick ratio of 0.47, a current ratio of 0.55 and a debt-to-equity ratio of 1.32. Cheesecake Factory has a 52 week low of $42.69 and a 52 week high of $69.70.

Institutional Trading of Cheesecake Factory

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CAKE. Ameritas Advisory Services LLC bought a new stake in Cheesecake Factory in the 2nd quarter worth about $28,000. Salomon & Ludwin LLC grew its stake in Cheesecake Factory by 226.5% in the 4th quarter. Salomon & Ludwin LLC now owns 604 shares of the restaurant operator’s stock valued at $33,000 after purchasing an additional 419 shares during the period. Parkside Financial Bank & Trust increased its holdings in Cheesecake Factory by 39.2% during the second quarter. Parkside Financial Bank & Trust now owns 632 shares of the restaurant operator’s stock worth $40,000 after buying an additional 178 shares during the last quarter. Quarry LP grew its position in shares of Cheesecake Factory by 3,343.8% during the 3rd quarter. Quarry LP now owns 1,102 shares of the restaurant operator’s stock valued at $60,000 after acquiring an additional 1,070 shares during the period. Finally, Allworth Financial LP increased its stake in shares of Cheesecake Factory by 170.7% during the 3rd quarter. Allworth Financial LP now owns 1,164 shares of the restaurant operator’s stock worth $64,000 after purchasing an additional 734 shares during the last quarter. 94.48% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently weighed in on CAKE. Jefferies Financial Group set a $70.00 price objective on Cheesecake Factory and gave the company a “buy” rating in a report on Wednesday, October 29th. Oppenheimer set a $70.00 price target on Cheesecake Factory in a research note on Wednesday, October 29th. Bank of America cut their price objective on Cheesecake Factory from $61.00 to $56.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 29th. JPMorgan Chase & Co. reduced their target price on Cheesecake Factory from $57.00 to $52.00 and set an “underweight” rating on the stock in a report on Thursday, October 30th. Finally, Weiss Ratings downgraded shares of Cheesecake Factory from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, January 15th. Eight research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $59.41.

Cheesecake Factory Company Profile

The Cheesecake Factory Incorporated (NASDAQ:CAKE) is an American restaurant company and distributor renowned for its full-service casual-dining concept and specialty cheesecakes. Headquartered in Calabasas Hills, California, the company operates more than 200 restaurants under The Cheesecake Factory® brand across the United States, Puerto Rico and select international markets. In addition to sit-down dining, Cheesecake Factory franchised locations offer catering and take-out services, while a separate manufacturing arm supplies branded cheesecakes and desserts to supermarkets, hotels and other foodservice operators.

The origins of the brand trace back to a small cheesecake bakery founded in Detroit in the 1940s.