The Cheesecake Factory (NASDAQ:CAKE) Sees Unusually-High Trading Volume

The Cheesecake Factory Incorporated (NASDAQ:CAKE) saw an uptick in trading volume on Friday . 42,298 shares were traded during trading, a decline of 95% from the previous session’s volume of 938,007 shares.The stock last traded at $57.73 and had previously closed at $56.86.

A number of research firms have weighed in on CAKE. Credit Suisse Group increased their price target on shares of The Cheesecake Factory from $47.00 to $58.00 and gave the stock a “neutral” rating in a research note on Thursday, April 29th. Morgan Stanley raised their target price on shares of The Cheesecake Factory from $41.00 to $45.00 and gave the company an “underweight” rating in a research note on Thursday, April 29th. Telsey Advisory Group lifted their price target on shares of The Cheesecake Factory from $62.00 to $66.00 and gave the stock a “market perform” rating in a research note on Thursday, April 29th. Zacks Investment Research downgraded shares of The Cheesecake Factory from a “buy” rating to a “hold” rating and set a $59.00 price target on the stock. in a research note on Friday, June 4th. Finally, Piper Sandler lifted their price target on shares of The Cheesecake Factory from $38.00 to $52.00 and gave the stock an “overweight” rating in a research note on Thursday, February 18th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and five have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $53.14.

The stock has a market cap of $2.68 billion, a PE ratio of -17.74, a P/E/G ratio of 3.23 and a beta of 1.77. The stock’s 50-day moving average price is $58.87. The company has a quick ratio of 0.55, a current ratio of 0.62 and a debt-to-equity ratio of 0.88.

The Cheesecake Factory (NASDAQ:CAKE) last issued its quarterly earnings data on Wednesday, April 28th. The restaurant operator reported $0.20 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.06) by $0.26. The firm had revenue of $627.40 million for the quarter, compared to the consensus estimate of $596.42 million. The Cheesecake Factory had a negative net margin of 5.68% and a negative return on equity of 20.30%. The Cheesecake Factory’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same period last year, the firm posted $0.13 EPS. On average, research analysts predict that The Cheesecake Factory Incorporated will post 2.11 earnings per share for the current fiscal year.

In related news, President David M. Gordon sold 18,000 shares of the business’s stock in a transaction that occurred on Friday, May 7th. The shares were sold at an average price of $63.86, for a total value of $1,149,480.00. Following the sale, the president now directly owns 7,755 shares in the company, valued at approximately $495,234.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Matthew Eliot Clark sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, May 7th. The stock was sold at an average price of $63.86, for a total transaction of $255,440.00. Following the completion of the sale, the chief financial officer now owns 18,370 shares in the company, valued at $1,173,108.20. The disclosure for this sale can be found here. Insiders have sold a total of 95,160 shares of company stock worth $5,934,989 over the last 90 days. 8.70% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its position in shares of The Cheesecake Factory by 3.3% in the fourth quarter. BlackRock Inc. now owns 7,532,836 shares of the restaurant operator’s stock worth $279,169,000 after acquiring an additional 238,963 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its position in shares of The Cheesecake Factory by 5.7% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,156,841 shares of the restaurant operator’s stock worth $243,217,000 after acquiring an additional 225,749 shares in the last quarter. Bamco Inc. NY increased its position in shares of The Cheesecake Factory by 13.8% in the fourth quarter. Bamco Inc. NY now owns 1,895,000 shares of the restaurant operator’s stock worth $70,229,000 after acquiring an additional 230,000 shares in the last quarter. Wells Fargo & Company MN increased its position in shares of The Cheesecake Factory by 2.4% in the fourth quarter. Wells Fargo & Company MN now owns 889,786 shares of the restaurant operator’s stock worth $32,975,000 after acquiring an additional 20,717 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of The Cheesecake Factory by 9.4% in the first quarter. Geode Capital Management LLC now owns 718,789 shares of the restaurant operator’s stock worth $42,056,000 after acquiring an additional 61,635 shares in the last quarter. Institutional investors and hedge funds own 82.86% of the company’s stock.

The Cheesecake Factory Company Profile (NASDAQ:CAKE)

The Cheesecake Factory Incorporated operates restaurants. The company produces cheesecakes and other baked products for its restaurants, international licensees, and third-party bakery customers, as well as external foodservice operators, retailers, and distributors. It owns and operates 294 restaurants throughout the United States and Canada under brands, including The Cheesecake Factory and North Italia; and a collection of Fox Restaurant Concepts, as well as 27 The Cheesecake Factory restaurants under licensing agreements internationally.

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