Janney Montgomery Scott LLC Grows Stock Position in The Cheesecake Factory Incorporated $CAKE

Janney Montgomery Scott LLC grew its holdings in shares of The Cheesecake Factory Incorporated (NASDAQ:CAKEFree Report) by 199.2% in the 2nd quarter, Holdings Channel.com reports. The firm owned 19,882 shares of the restaurant operator’s stock after purchasing an additional 13,237 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Cheesecake Factory were worth $1,246,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CAKE. Wellington Management Group LLP increased its position in shares of Cheesecake Factory by 156.7% during the 1st quarter. Wellington Management Group LLP now owns 3,045,705 shares of the restaurant operator’s stock valued at $148,204,000 after purchasing an additional 1,859,194 shares during the last quarter. Westwood Holdings Group Inc. purchased a new stake in shares of Cheesecake Factory during the 1st quarter valued at about $75,795,000. Invesco Ltd. increased its position in shares of Cheesecake Factory by 83.5% during the 1st quarter. Invesco Ltd. now owns 2,591,205 shares of the restaurant operator’s stock valued at $126,088,000 after purchasing an additional 1,178,722 shares during the last quarter. Driehaus Capital Management LLC purchased a new stake in shares of Cheesecake Factory during the 1st quarter valued at about $47,720,000. Finally, Victory Capital Management Inc. increased its position in shares of Cheesecake Factory by 64.1% during the 1st quarter. Victory Capital Management Inc. now owns 1,766,131 shares of the restaurant operator’s stock valued at $85,940,000 after purchasing an additional 689,784 shares during the last quarter. Hedge funds and other institutional investors own 94.48% of the company’s stock.

Insiders Place Their Bets

In related news, President David M. Gordon sold 43,335 shares of the firm’s stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $63.06, for a total value of $2,732,705.10. Following the completion of the sale, the president directly owned 24,532 shares in the company, valued at $1,546,987.92. This trade represents a 63.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Alexander L. Cappello sold 12,388 shares of the firm’s stock in a transaction on Thursday, July 31st. The stock was sold at an average price of $65.88, for a total value of $816,121.44. Following the completion of the sale, the director owned 6,806 shares of the company’s stock, valued at approximately $448,379.28. This represents a 64.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.10% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms recently issued reports on CAKE. Weiss Ratings reissued a “buy (b)” rating on shares of Cheesecake Factory in a report on Wednesday, October 8th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $67.00 price objective (up from $66.00) on shares of Cheesecake Factory in a report on Thursday, July 10th. Raymond James Financial increased their price objective on shares of Cheesecake Factory from $70.00 to $73.00 and gave the company an “outperform” rating in a report on Friday, August 15th. UBS Group increased their price objective on shares of Cheesecake Factory from $45.00 to $50.00 and gave the company a “sell” rating in a report on Friday, July 18th. Finally, Oppenheimer increased their price objective on shares of Cheesecake Factory from $65.00 to $75.00 and gave the company an “outperform” rating in a report on Friday, July 11th. Eight research analysts have rated the stock with a Buy rating, five have given a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $61.94.

Read Our Latest Stock Report on Cheesecake Factory

Cheesecake Factory Stock Down 2.9%

Shares of CAKE opened at $52.08 on Monday. The company has a market cap of $2.59 billion, a PE ratio of 16.02, a P/E/G ratio of 1.24 and a beta of 1.06. The business has a fifty day moving average of $58.66 and a 200 day moving average of $56.81. The Cheesecake Factory Incorporated has a 52-week low of $38.47 and a 52-week high of $69.70. The company has a quick ratio of 0.42, a current ratio of 0.51 and a debt-to-equity ratio of 1.40.

Cheesecake Factory (NASDAQ:CAKEGet Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The restaurant operator reported $1.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.10. The company had revenue of $955.83 million during the quarter, compared to the consensus estimate of $945.82 million. Cheesecake Factory had a return on equity of 45.92% and a net margin of 4.33%.Cheesecake Factory’s revenue was up 5.7% on a year-over-year basis. During the same period last year, the company earned $1.09 earnings per share. On average, sell-side analysts expect that The Cheesecake Factory Incorporated will post 3.71 EPS for the current year.

Cheesecake Factory Company Profile

(Free Report)

The Cheesecake Factory Incorporated operates and licenses restaurants in the United States and Canada. The company operates bakeries that produce cheesecakes and other baked products for its restaurants, international licensees, third-party bakery customers, external foodservice operators, retailers, and distributors.

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

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