Shell Asset Management Co. Cuts Stake in The Cheesecake Factory Inc. (CAKE)
Shell Asset Management Co. decreased its position in shares of The Cheesecake Factory Inc. (NASDAQ:CAKE) by 5.4% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 17,233 shares of the company’s stock after selling 982 shares during the period. Shell Asset Management Co.’s holdings in The Cheesecake Factory were worth $830,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also modified their holdings of CAKE. BlackRock Japan Co. Ltd boosted its position in shares of The Cheesecake Factory by 28.8% in the first quarter. BlackRock Japan Co. Ltd now owns 2,128 shares of the company’s stock worth $113,000 after buying an additional 476 shares during the last quarter. LS Investment Advisors LLC boosted its position in shares of The Cheesecake Factory by 66.1% in the second quarter. LS Investment Advisors LLC now owns 2,740 shares of the company’s stock worth $132,000 after buying an additional 1,090 shares during the last quarter. Bessemer Group Inc. boosted its position in shares of The Cheesecake Factory by 2,510.0% in the first quarter. Bessemer Group Inc. now owns 2,610 shares of the company’s stock worth $139,000 after buying an additional 2,510 shares during the last quarter. Parametrica Management Ltd acquired a new position in shares of The Cheesecake Factory during the second quarter worth approximately $207,000. Finally, M&T Bank Corp acquired a new position in shares of The Cheesecake Factory during the first quarter worth approximately $209,000. Institutional investors and hedge funds own 89.48% of the company’s stock.
Shares of The Cheesecake Factory Inc. (NASDAQ:CAKE) traded down 0.54% during trading on Thursday, hitting $49.51. The stock had a trading volume of 487,139 shares. The company has a market cap of $2.30 billion, a P/E ratio of 19.75 and a beta of 0.35. The stock has a 50-day moving average price of $51.02 and a 200 day moving average price of $50.82. The Cheesecake Factory Inc. has a 12 month low of $44.16 and a 12 month high of $55.37.
The Cheesecake Factory (NASDAQ:CAKE) last announced its quarterly earnings results on Wednesday, July 27th. The company reported $0.78 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.07. The company earned $558.86 million during the quarter, compared to the consensus estimate of $562.96 million. The Cheesecake Factory had a return on equity of 22.04% and a net margin of 5.81%. The Cheesecake Factory’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.69 EPS. Equities analysts expect that The Cheesecake Factory Inc. will post $2.75 EPS for the current fiscal year.
A number of brokerages have commented on CAKE. Zacks Investment Research cut shares of The Cheesecake Factory from a “hold” rating to a “sell” rating in a research report on Monday, July 18th. Barclays PLC increased their price objective on The Cheesecake Factory from $53.00 to $54.00 and gave the company an “equal weight” rating in a research note on Thursday, July 28th. Canaccord Genuity assumed coverage on The Cheesecake Factory in a research note on Monday, August 22nd. They set a “hold” rating and a $54.00 price objective for the company. Robert W. Baird reissued a “neutral” rating on shares of The Cheesecake Factory in a research note on Thursday, September 8th. Finally, Stifel Nicolaus lowered The Cheesecake Factory from a “buy” rating to a “sell” rating and dropped their price objective for the company from $65.00 to $43.00 in a research note on Tuesday, July 26th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. The Cheesecake Factory has an average rating of “Hold” and a consensus price target of $54.73.
In other The Cheesecake Factory news, CFO Doug Benn sold 6,512 shares of The Cheesecake Factory stock in a transaction dated Monday, July 25th. The stock was sold at an average price of $53.00, for a total transaction of $345,136.00. Following the completion of the sale, the chief financial officer now directly owns 51,344 shares of the company’s stock, valued at approximately $2,721,232. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 8.50% of the company’s stock.
The Cheesecake Factory Company Profile
The Cheesecake Factory Incorporated is engaged in the restaurant and bakery business. The Company operates approximately 200 Company-owned restaurants, including approximately 190 restaurants under The Cheesecake Factory mark and approximately 10 restaurants under the Grand Lux Cafe mark. The Company’s segments include The Cheesecake Factory restaurants, and other, which includes Grand Lux Cafe, RockSugar Pan Asian Kitchen, bakery and international licensing.
Want to see what other hedge funds are holding CAKE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Cheesecake Factory Inc. (NASDAQ:CAKE).
Receive News & Ratings for The Cheesecake Factory Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Cheesecake Factory Inc. and related companies with MarketBeat.com's FREE daily email newsletter.