American International Group Inc. lowered its holdings in shares of Cheesecake Factory Inc (NASDAQ:CAKE) by 71.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,928 shares of the restaurant operator’s stock after selling 74,108 shares during the quarter. American International Group Inc.’s holdings in Cheesecake Factory were worth $686,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Rockefeller Capital Management L.P. grew its holdings in Cheesecake Factory by 327.3% during the 2nd quarter. Rockefeller Capital Management L.P. now owns 1,393 shares of the restaurant operator’s stock valued at $32,000 after buying an additional 1,067 shares in the last quarter. Parallel Advisors LLC purchased a new position in shares of Cheesecake Factory in the 2nd quarter worth approximately $48,000. Steward Partners Investment Advisory LLC purchased a new position in shares of Cheesecake Factory in the 2nd quarter worth approximately $48,000. Tower Research Capital LLC TRC boosted its holdings in shares of Cheesecake Factory by 304.4% in the 1st quarter. Tower Research Capital LLC TRC now owns 3,676 shares of the restaurant operator’s stock worth $63,000 after purchasing an additional 2,767 shares during the period. Finally, Advisors Asset Management Inc. boosted its holdings in shares of Cheesecake Factory by 127.5% in the 2nd quarter. Advisors Asset Management Inc. now owns 2,728 shares of the restaurant operator’s stock worth $63,000 after purchasing an additional 1,529 shares during the period. Institutional investors and hedge funds own 98.43% of the company’s stock.
A number of equities research analysts recently issued reports on the company. Stephens raised their price target on Cheesecake Factory from $15.00 to $18.00 and gave the stock an “underweight” rating in a research note on Thursday, July 30th. Gordon Haskett lowered Cheesecake Factory from a “buy” rating to a “hold” rating and decreased their price target for the stock from $32.00 to $27.00 in a research note on Wednesday, July 1st. Jefferies Financial Group reissued a “hold” rating and set a $25.00 price target on shares of Cheesecake Factory in a research note on Tuesday, August 11th. BidaskClub raised Cheesecake Factory from a “hold” rating to a “buy” rating in a research report on Friday, September 4th. Finally, Credit Suisse Group assumed coverage on Cheesecake Factory in a research report on Thursday, July 9th. They set a “neutral” rating and a $24.00 target price for the company. Six equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $27.37.
CAKE stock opened at $31.00 on Wednesday. The company has a current ratio of 0.85, a quick ratio of 0.78 and a debt-to-equity ratio of 1.07. Cheesecake Factory Inc has a 12-month low of $14.52 and a 12-month high of $45.24. The company has a market cap of $1.39 billion, a price-to-earnings ratio of 90.21 and a beta of 1.49. The firm has a 50 day moving average of $27.53 and a 200-day moving average of $23.47.
Cheesecake Factory (NASDAQ:CAKE) last issued its quarterly earnings results on Wednesday, July 29th. The restaurant operator reported ($0.87) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.07) by $0.20. Cheesecake Factory had a return on equity of 1.55% and a net margin of 0.20%. The company had revenue of $295.85 million during the quarter, compared to the consensus estimate of $309.57 million. During the same period in the previous year, the firm posted $0.82 EPS. Cheesecake Factory’s revenue was down 50.9% on a year-over-year basis. Sell-side analysts forecast that Cheesecake Factory Inc will post -1.28 earnings per share for the current fiscal year.
Cheesecake Factory Profile
The Cheesecake Factory Incorporated engages in the operation of restaurants. 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 April 16, 2019, it owned and operated 219 full-service casual-dining restaurants in the United States, including Puerto Rico and Canada comprising 202 restaurants under The Cheesecake Factory name; 14 restaurants under the Grand Lux Café name; and 2 restaurants under the RockSugar Southeast Asian Kitchen name, as well as 22 The Cheesecake Factory restaurants under licensing agreements internationally.
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