The Cheesecake Factory Incorporated (NASDAQ:CAKE) Shares Sold by US Bancorp DE

US Bancorp DE lessened its stake in The Cheesecake Factory Incorporated (NASDAQ:CAKEGet Rating) by 5.9% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,858 shares of the restaurant operator’s stock after selling 684 shares during the quarter. US Bancorp DE’s holdings in Cheesecake Factory were worth $318,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Whittier Trust Co. raised its holdings in Cheesecake Factory by 116.3% during the third quarter. Whittier Trust Co. now owns 930 shares of the restaurant operator’s stock worth $27,000 after purchasing an additional 500 shares during the last quarter. Wipfli Financial Advisors LLC purchased a new position in shares of Cheesecake Factory in the third quarter valued at $43,000. Quantbot Technologies LP raised its stake in shares of Cheesecake Factory by 356.8% during the 2nd quarter. Quantbot Technologies LP now owns 3,965 shares of the restaurant operator’s stock worth $104,000 after buying an additional 3,097 shares during the last quarter. Prospera Financial Services Inc boosted its position in shares of Cheesecake Factory by 10.5% in the 2nd quarter. Prospera Financial Services Inc now owns 4,058 shares of the restaurant operator’s stock worth $107,000 after buying an additional 387 shares in the last quarter. Finally, KBC Group NV acquired a new stake in Cheesecake Factory in the 2nd quarter valued at about $111,000. Institutional investors and hedge funds own 88.67% of the company’s stock.

Wall Street Analyst Weigh In

CAKE has been the topic of several recent research reports. Morgan Stanley upped their price target on shares of Cheesecake Factory from $26.00 to $31.00 and gave the company an “underweight” rating in a report on Wednesday, January 18th. StockNews.com began coverage on Cheesecake Factory in a report on Wednesday, October 12th. They set a “hold” rating on the stock. Citigroup cut Cheesecake Factory from a “buy” rating to a “neutral” rating in a report on Tuesday, January 17th. Barclays reduced their price objective on Cheesecake Factory from $31.00 to $28.00 and set an “underweight” rating on the stock in a research report on Thursday, January 5th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on Cheesecake Factory from $31.00 to $36.00 and gave the stock a “hold” rating in a research report on Wednesday, November 2nd. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $34.40.

Insider Activity

In other news, Director Edie A. Ames bought 4,000 shares of the business’s stock in a transaction that occurred on Thursday, December 8th. The shares were acquired at an average cost of $32.25 per share, with a total value of $129,000.00. Following the transaction, the director now owns 12,500 shares of the company’s stock, valued at approximately $403,125. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 8.20% of the company’s stock.

Cheesecake Factory Stock Down 8.0 %

CAKE opened at $37.65 on Wednesday. The Cheesecake Factory Incorporated has a 12 month low of $26.05 and a 12 month high of $44.65. The business has a 50-day moving average of $34.78 and a two-hundred day moving average of $32.65. The company has a debt-to-equity ratio of 1.45, a current ratio of 0.52 and a quick ratio of 0.42. The stock has a market capitalization of $1.94 billion, a price-to-earnings ratio of 40.05, a price-to-earnings-growth ratio of 2.68 and a beta of 1.36.

Cheesecake Factory (NASDAQ:CAKEGet Rating) last released its earnings results on Tuesday, November 1st. The restaurant operator reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.31). Cheesecake Factory had a net margin of 1.52% and a return on equity of 21.50%. The company had revenue of $784.00 million during the quarter, compared to analysts’ expectations of $799.33 million. On average, research analysts expect that The Cheesecake Factory Incorporated will post 1.54 earnings per share for the current year.

Cheesecake Factory Profile

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The Cheesecake Factory Incorporated operates restaurants. It operates two bakeries that produces cheesecakes and other baked products for its restaurants, international licensees, third-party bakery customers, external foodservice operators, retailers, and distributors. As of October 27, 2022, the company owned and operated 312 restaurants in the United States and Canada under brands, including The Cheesecake Factory, North Italia, and a collection of Fox Restaurant Concepts, as well as 29 The Cheesecake Factory restaurants under licensing agreements internationally.

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

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