AlphaQuest LLC Purchases 8,317 Shares of The Cheesecake Factory Incorporated $CAKE

AlphaQuest LLC grew its position in The Cheesecake Factory Incorporated (NASDAQ:CAKE) by 123.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,067 shares of the restaurant operator’s stock after acquiring an additional 8,317 shares during the period. AlphaQuest LLC’s holdings in Cheesecake Factory were worth $944,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Ameritas Advisory Services LLC bought a new position in shares of Cheesecake Factory in the 2nd quarter valued at about $28,000. Golden State Wealth Management LLC grew its position in shares of Cheesecake Factory by 100.0% in the 1st quarter. Golden State Wealth Management LLC now owns 1,060 shares of the restaurant operator’s stock valued at $52,000 after acquiring an additional 530 shares during the period. SBI Securities Co. Ltd. grew its position in shares of Cheesecake Factory by 38.5% in the 1st quarter. SBI Securities Co. Ltd. now owns 1,244 shares of the restaurant operator’s stock valued at $61,000 after acquiring an additional 346 shares during the period. Bayforest Capital Ltd bought a new position in shares of Cheesecake Factory in the 1st quarter valued at about $72,000. Finally, Smartleaf Asset Management LLC lifted its stake in shares of Cheesecake Factory by 24.4% during the 1st 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 during the last quarter. Institutional investors own 94.48% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. UBS Group raised their target price on shares of Cheesecake Factory from $45.00 to $50.00 and gave the stock a “sell” rating in a research note on Friday, July 18th. Weiss Ratings restated a “buy (b)” rating on shares of Cheesecake Factory in a research note on Friday. Wells Fargo & Company cut their target price on shares of Cheesecake Factory from $65.00 to $60.00 and set an “equal weight” rating for the company in a research note on Thursday, October 16th. Morgan Stanley restated an “underweight” rating and set a $50.00 target price on shares of Cheesecake Factory in a research note on Tuesday, October 21st. Finally, Robert W. Baird set a $64.00 target price on shares of Cheesecake Factory and gave the stock a “neutral” rating in a research note on Wednesday, July 30th. Eight research analysts have rated the stock with a Buy rating, five have issued a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $61.88.

Cheesecake Factory Stock Performance

NASDAQ CAKE opened at $56.15 on Monday. The company has a quick ratio of 0.42, a current ratio of 0.51 and a debt-to-equity ratio of 1.40. The company has a market capitalization of $2.80 billion, a P/E ratio of 17.28, a P/E/G ratio of 1.34 and a beta of 1.06. The Cheesecake Factory Incorporated has a 12-month low of $41.68 and a 12-month high of $69.70. The firm has a 50-day moving average price of $57.16 and a two-hundred day moving average price of $57.34.

Cheesecake Factory (NASDAQ:CAKE) last posted its quarterly earnings data 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. The firm had revenue of $955.83 million during the quarter, compared to the consensus estimate of $945.82 million. Cheesecake Factory had a net margin of 4.33% and a return on equity of 45.92%. The business’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.09 EPS. Analysts anticipate that The Cheesecake Factory Incorporated will post 3.71 earnings per share for the current year.

Insider Activity at Cheesecake Factory

In other 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 value of $2,732,705.10. Following the completion of the transaction, the president directly owned 24,532 shares in the company, valued at approximately $1,546,987.92. The trade was a 63.85% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 shares were sold at an average price of $65.88, for a total transaction of $816,121.44. Following the completion of the transaction, the director owned 6,806 shares of the company’s stock, valued at $448,379.28. The trade was 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 currently owned by insiders.

About Cheesecake Factory

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.