The Cheesecake Factory Incorporated $CAKE Shares Newly Purchased by Oakmont Investment Advisors Inc.

Oakmont Investment Advisors Inc. bought a new stake in shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE) during the 3rd quarter, according to its most recent filing with the SEC. The firm bought 5,312 shares of the restaurant operator’s stock, valued at approximately $559,000.

Other hedge funds have also modified their holdings of the company. Bank of New York Mellon Corp purchased a new position in Cheesecake Factory in the 2nd quarter worth approximately $38,020,000. Bamco Inc. NY acquired a new stake in Cheesecake Factory in the second quarter valued at approximately $35,793,000. PDT Partners LLC acquired a new stake in Cheesecake Factory in the second quarter valued at approximately $13,743,000. TD Waterhouse Canada Inc. purchased a new stake in shares of Cheesecake Factory during the third quarter valued at approximately $13,792,000. Finally, Palisade Capital Management LP purchased a new stake in shares of Cheesecake Factory during the second quarter valued at approximately $10,014,000. 94.48% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Cheesecake Factory

In other news, insider Ashley Hanscom sold 3,500 shares of the firm’s stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $100.00, for a total transaction of $350,000.00. Following the completion of the sale, the insider owned 7,541 shares of the company’s stock, valued at approximately $754,100. This trade represents a 31.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Scarlett May sold 7,978 shares of the firm’s stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $102.66, for a total transaction of $819,021.48. Following the sale, the executive vice president directly owned 18,241 shares of the company’s stock, valued at $1,872,621.06. The trade was a 30.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 213,749 shares of company stock worth $22,301,899. 8.00% of the stock is currently owned by insiders.

Cheesecake Factory Trading Down 1.8%

Shares of CAKE opened at $114.39 on Thursday. The company has a market capitalization of $5.69 billion, a P/E ratio of 31.00, a P/E/G ratio of 1.87 and a beta of 1.04. The Cheesecake Factory Incorporated has a one year low of $43.07 and a one year high of $118.63. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.52 and a current ratio of 0.59. The stock has a 50-day moving average price of $107.82 and a 200 day moving average price of $85.87.

Cheesecake Factory (NASDAQ:CAKE) last issued its quarterly earnings data on Tuesday, July 28th. The restaurant operator reported $1.44 earnings per share for the quarter, beating analysts’ consensus estimates of $1.18 by $0.26. Cheesecake Factory had a return on equity of 43.97% and a net margin of 4.61%. The firm had revenue of $1.03 billion during the quarter, compared to analyst estimates of $999.54 million. During the same quarter last year, the firm earned $1.16 EPS. Cheesecake Factory’s quarterly revenue was up 7.7% on a year-over-year basis. Sell-side analysts forecast that The Cheesecake Factory Incorporated will post 4.63 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Stephens boosted their target price on shares of Cheesecake Factory from $93.00 to $100.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 15th. UBS Group raised their price target on shares of Cheesecake Factory from $53.00 to $60.00 and gave the company a “sell” rating in a report on Thursday, July 23rd. Jefferies Financial Group lowered shares of Cheesecake Factory from a “buy” rating to a “hold” rating and raised their price target for the company from $75.00 to $88.00 in a report on Wednesday, July 29th. Oppenheimer lifted their price target on shares of Cheesecake Factory from $101.00 to $122.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 6th. Finally, Zacks Research upgraded shares of Cheesecake Factory from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 30th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Cheesecake Factory has an average rating of “Hold” and a consensus price target of $90.67.

About Cheesecake Factory

The Cheesecake Factory Incorporated is a restaurant company best known for The Cheesecake Factory, a full-service casual dining brand offering an extensive menu of American and international-inspired dishes, along with a broad selection of cheesecakes and other desserts. The company also operates North Italia, an Italian restaurant concept, and owns Fox Restaurant Concepts, which develops and operates additional restaurant brands, including Flower Child and Culinary Dropout.

The company was founded by David Overton, who opened the first Cheesecake Factory restaurant in Beverly Hills, California, in 1978 after his parents began a cheesecake business.