APG Asset Management N.V. boosted its holdings in shares of Cheesecake Factory Inc (NASDAQ:CAKE) by 217.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 223,700 shares of the restaurant operator’s stock after purchasing an additional 153,200 shares during the period. APG Asset Management N.V. owned approximately 0.49% of Cheesecake Factory worth $8,514,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in the stock. Bank of New York Mellon Corp lifted its position in Cheesecake Factory by 5.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,857,146 shares of the restaurant operator’s stock worth $99,431,000 after acquiring an additional 87,761 shares during the period. BlackRock Inc. lifted its position in Cheesecake Factory by 0.6% during the 3rd quarter. BlackRock Inc. now owns 5,207,842 shares of the restaurant operator’s stock worth $278,827,000 after acquiring an additional 30,025 shares during the period. Trexquant Investment LP acquired a new stake in Cheesecake Factory during the 3rd quarter worth about $525,000. Canada Pension Plan Investment Board acquired a new stake in Cheesecake Factory during the 3rd quarter worth about $1,130,000. Finally, Credit Suisse AG lifted its position in Cheesecake Factory by 2.8% during the 3rd quarter. Credit Suisse AG now owns 54,030 shares of the restaurant operator’s stock worth $2,892,000 after acquiring an additional 1,463 shares during the period. 98.26% of the stock is owned by institutional investors and hedge funds.
In related news, Chairman David Overton sold 159,297 shares of the company’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $47.63, for a total value of $7,587,316.11. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Cheryl Slomann sold 1,000 shares of the company’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $46.36, for a total value of $46,360.00. The disclosure for this sale can be found here. Corporate insiders own 8.80% of the company’s stock.
Cheesecake Factory (NASDAQ:CAKE) last released its quarterly earnings results on Wednesday, February 20th. The restaurant operator reported $0.60 earnings per share for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.01). The business had revenue of $585.16 million during the quarter, compared to analyst estimates of $593.71 million. Cheesecake Factory had a return on equity of 18.78% and a net margin of 4.21%. The business’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.53 EPS. Sell-side analysts anticipate that Cheesecake Factory Inc will post 2.62 earnings per share for the current fiscal year.
A number of analysts have commented on CAKE shares. Maxim Group reaffirmed a “buy” rating and set a $60.00 price target on shares of Cheesecake Factory in a research report on Tuesday, April 16th. BidaskClub cut Cheesecake Factory from a “sell” rating to a “strong sell” rating in a report on Friday, March 22nd. Raymond James raised Cheesecake Factory from a “market perform” rating to an “outperform” rating in a report on Tuesday, January 8th. Bank of America reissued a “neutral” rating and issued a $50.00 price objective (down previously from $56.00) on shares of Cheesecake Factory in a report on Thursday, February 21st. Finally, TheStreet raised Cheesecake Factory from a “c+” rating to a “b-” rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and two have given a buy rating to the stock. Cheesecake Factory presently has an average rating of “Hold” and an average target price of $51.91.
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Cheesecake Factory Company Profile
The Cheesecake Factory Incorporated operates restaurants in the United States. The company produces cheesecakes and other baked products for own restaurants and international licensees, as well as external foodservice operators, retailers, and distributors. As of November 20, 2018, it operated 217 company-owned restaurants, including 201 restaurants under The Cheesecake Factory brand; 14 restaurants under the Grand Lux Cafe brand; and 2 restaurants under the RockSugar Southeast Asian Kitchen brand, as well as 21 The Cheesecake Factory branded restaurants under licensing agreements internationally.
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