State of Alaska Department of Revenue Sells 7,363 Shares of The Cheesecake Factory Incorporated $CAKE

State of Alaska Department of Revenue reduced its stake in The Cheesecake Factory Incorporated (NASDAQ:CAKE) by 48.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,691 shares of the restaurant operator’s stock after selling 7,363 shares during the period. State of Alaska Department of Revenue’s holdings in Cheesecake Factory were worth $809,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in CAKE. GAMMA Investing LLC raised its stake in shares of Cheesecake Factory by 67.6% during the 3rd quarter. GAMMA Investing LLC now owns 12,020 shares of the restaurant operator’s stock valued at $1,265,000 after purchasing an additional 4,847 shares during the period. CoreCap Advisors LLC purchased a new stake in Cheesecake Factory during the 3rd quarter worth about $383,000. Tidal Investments LLC boosted its stake in Cheesecake Factory by 13.9% in the 2nd quarter. Tidal Investments LLC now owns 10,145 shares of the restaurant operator’s stock worth $807,000 after purchasing an additional 1,238 shares during the period. Nykredit A S bought a new position in Cheesecake Factory in the 2nd quarter worth about $212,000. Finally, Corient Private Wealth LP boosted its stake in Cheesecake Factory by 269.9% in the 2nd quarter. Corient Private Wealth LP now owns 100,951 shares of the restaurant operator’s stock worth $8,030,000 after purchasing an additional 73,659 shares during the period. 94.48% of the stock is currently owned by hedge funds and other institutional investors.

Cheesecake Factory Stock Performance

NASDAQ CAKE opened at $112.44 on Friday. The company has a 50-day simple moving average of $107.83 and a two-hundred day simple moving average of $86.27. The company has a quick ratio of 0.52, a current ratio of 0.59 and a debt-to-equity ratio of 1.08. The Cheesecake Factory Incorporated has a 12-month low of $43.07 and a 12-month high of $118.63. The firm has a market cap of $5.60 billion, a price-to-earnings ratio of 30.47, a PEG ratio of 1.84 and a beta of 1.04.

Cheesecake Factory (NASDAQ:CAKE) last released its quarterly earnings data on Tuesday, July 28th. The restaurant operator reported $1.44 EPS for the quarter, topping the consensus estimate of $1.18 by $0.26. Cheesecake Factory had a return on equity of 43.97% and a net margin of 4.61%. The firm had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $999.54 million. During the same quarter in the previous year, the business earned $1.16 earnings per share. The company’s quarterly revenue was up 7.7% on a year-over-year basis. On average, equities analysts forecast that The Cheesecake Factory Incorporated will post 4.63 EPS for the current year.

Insider Activity at Cheesecake Factory

In other Cheesecake Factory news, Chairman David Overton sold 94,145 shares of Cheesecake Factory stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $106.27, for a total value of $10,004,789.15. Following the transaction, the chairman directly owned 89,805 shares of the company’s stock, valued at $9,543,577.35. The trade was a 51.18% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Janice L. Meyer sold 1,958 shares of the business’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $109.36, for a total value of $214,126.88. Following the completion of the sale, the director owned 21,251 shares of the company’s stock, valued at $2,324,009.36. The trade was a 8.44% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 213,749 shares of company stock worth $22,301,899 over the last three months. Corporate insiders own 8.00% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Zacks Research raised shares of Cheesecake Factory from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 30th. Wells Fargo & Company boosted their price target on shares of Cheesecake Factory from $105.00 to $110.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Robert W. Baird increased their price target on shares of Cheesecake Factory from $105.00 to $120.00 and gave the stock a “neutral” rating in a report on Thursday. Weiss Ratings raised shares of Cheesecake Factory from a “buy (b)” rating to a “buy (b+)” rating in a report on Thursday, October 8th. Finally, Citigroup increased their target price on Cheesecake Factory from $104.00 to $128.00 and gave the company a “buy” rating in a research note on Wednesday, October 14th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Cheesecake Factory has an average rating of “Hold” and a consensus target price of $92.67.

Cheesecake Factory Profile

The Cheesecake Factory Incorporated is a restaurant company best known for The Cheesecake Factory, a full-service casual dining brand offering an extensive menu of American and international-inspired dishes, along with a broad selection of cheesecakes and other desserts. The company also operates North Italia, an Italian restaurant concept, and owns Fox Restaurant Concepts, which develops and operates additional restaurant brands, including Flower Child and Culinary Dropout.

The company was founded by David Overton, who opened the first Cheesecake Factory restaurant in Beverly Hills, California, in 1978 after his parents began a cheesecake business.