The Cheesecake Factory Incorporated $CAKE Shares Sold by Inspire Investing LLC

Inspire Investing LLC lowered its holdings in shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE) by 67.7% in the second quarter, HoldingsChannel.com reports. The fund owned 7,876 shares of the restaurant operator’s stock after selling 16,530 shares during the quarter. Inspire Investing LLC’s holdings in Cheesecake Factory were worth $494,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CAKE. Ameritas Advisory Services LLC acquired a new position in Cheesecake Factory during the second quarter worth about $28,000. Golden State Wealth Management LLC raised its position in Cheesecake Factory by 100.0% during the first quarter. Golden State Wealth Management LLC now owns 1,060 shares of the restaurant operator’s stock worth $52,000 after acquiring an additional 530 shares during the last quarter. SBI Securities Co. Ltd. raised its position in Cheesecake Factory by 38.5% during the first quarter. SBI Securities Co. Ltd. now owns 1,244 shares of the restaurant operator’s stock worth $61,000 after acquiring an additional 346 shares during the last quarter. Bayforest Capital Ltd purchased a new stake in shares of Cheesecake Factory during the first quarter worth about $72,000. Finally, Smartleaf Asset Management LLC grew its holdings in shares of Cheesecake Factory by 24.4% during the first quarter. Smartleaf Asset Management LLC now owns 3,268 shares of the restaurant operator’s stock worth $162,000 after buying an additional 640 shares in the last quarter. Institutional investors and hedge funds own 94.48% of the company’s stock.

Cheesecake Factory Price Performance

Cheesecake Factory stock opened at $52.08 on Monday. The Cheesecake Factory Incorporated has a 1 year low of $38.47 and a 1 year high of $69.70. The firm has a 50 day moving average price of $58.66 and a 200 day moving average price of $56.81. The company has a market cap of $2.59 billion, a price-to-earnings ratio of 16.02, a PEG ratio of 1.24 and a beta of 1.06. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.42 and a current ratio of 0.51.

Cheesecake Factory (NASDAQ:CAKE) last released its earnings results on Tuesday, July 29th. The restaurant operator reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.10. Cheesecake Factory had a net margin of 4.33% and a return on equity of 45.92%. The firm had revenue of $955.83 million during the quarter, compared to the consensus estimate of $945.82 million. During the same period in the previous year, the firm earned $1.09 earnings per share. Cheesecake Factory’s revenue was up 5.7% compared to the same quarter last year. Sell-side analysts predict that The Cheesecake Factory Incorporated will post 3.71 earnings per share for the current year.

Insider Activity at Cheesecake Factory

In other Cheesecake Factory news, President David M. Gordon sold 43,335 shares of the business’s stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $63.06, for a total transaction 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. The trade was a 63.85% decrease in their ownership of the stock. The transaction 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 business’s stock in a transaction that occurred on Thursday, July 31st. The stock was sold at an average price of $65.88, for a total transaction of $816,121.44. Following 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 insiders.

Analysts Set New Price Targets

CAKE has been the subject of a number of recent research reports. Wells Fargo & Company lifted their price target on shares of Cheesecake Factory from $60.00 to $65.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 30th. Oppenheimer lifted their price target on shares of Cheesecake Factory from $65.00 to $75.00 and gave the stock an “outperform” rating in a report on Friday, July 11th. Weiss Ratings reiterated a “buy (b)” rating on shares of Cheesecake Factory in a report on Wednesday, October 8th. JPMorgan Chase & Co. lifted their price target on shares of Cheesecake Factory from $50.00 to $58.00 and gave the stock an “underweight” rating in a report on Wednesday, June 25th. Finally, Bank of America lifted their price target on shares of Cheesecake Factory from $61.00 to $67.00 and gave the stock a “neutral” rating in a report on Friday, July 18th. Eight analysts have rated the stock with a Buy rating, five have issued a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat, Cheesecake Factory has an average rating of “Hold” and an average price target of $61.94.

Cheesecake Factory Company Profile

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.