The Cheesecake Factory Incorporated (NASDAQ:CAKE) Shares Sold by Gagnon Securities LLC

Gagnon Securities LLC trimmed its stake in shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE) by 0.3% in the 4th quarter, HoldingsChannel reports. The firm owned 218,157 shares of the restaurant operator’s stock after selling 644 shares during the period. Cheesecake Factory makes up 2.1% of Gagnon Securities LLC’s investment portfolio, making the stock its 20th biggest position. Gagnon Securities LLC’s holdings in Cheesecake Factory were worth $10,349,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of CAKE. Hennessy Advisors Inc. purchased a new stake in Cheesecake Factory during the 4th quarter worth about $63,114,000. Victory Capital Management Inc. lifted its holdings in Cheesecake Factory by 32.7% during the 3rd quarter. Victory Capital Management Inc. now owns 403,271 shares of the restaurant operator’s stock worth $16,353,000 after buying an additional 99,341 shares during the last quarter. State Street Corp lifted its holdings in Cheesecake Factory by 3.7% during the 3rd quarter. State Street Corp now owns 1,876,295 shares of the restaurant operator’s stock worth $76,084,000 after buying an additional 67,550 shares during the last quarter. Fred Alger Management LLC lifted its holdings in Cheesecake Factory by 159.6% during the 3rd quarter. Fred Alger Management LLC now owns 97,765 shares of the restaurant operator’s stock worth $3,964,000 after buying an additional 60,100 shares during the last quarter. Finally, Tabor Asset Management LP purchased a new stake in Cheesecake Factory during the 3rd quarter worth about $1,327,000. 94.48% of the stock is owned by hedge funds and other institutional investors.

Cheesecake Factory Stock Down 0.0 %

Shares of NASDAQ:CAKE opened at $56.15 on Friday. The company has a quick ratio of 0.33, a current ratio of 0.44 and a debt-to-equity ratio of 1.19. The Cheesecake Factory Incorporated has a 52-week low of $33.05 and a 52-week high of $56.55. The company has a 50 day moving average of $49.87 and a two-hundred day moving average of $43.78. The company has a market capitalization of $2.87 billion, a price-to-earnings ratio of 21.35, a price-to-earnings-growth ratio of 1.29 and a beta of 1.50.

Cheesecake Factory (NASDAQ:CAKE) last released its quarterly earnings results on Tuesday, October 29th. The restaurant operator reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.11. Cheesecake Factory had a net margin of 3.63% and a return on equity of 43.90%. The business had revenue of $865.50 million during the quarter, compared to the consensus estimate of $866.13 million. During the same quarter last year, the company earned $0.39 earnings per share. The business’s quarterly revenue was up 4.3% compared to the same quarter last year. As a group, analysts forecast that The Cheesecake Factory Incorporated will post 3.31 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on CAKE shares. StockNews.com cut Cheesecake Factory from a “buy” rating to a “hold” rating in a research report on Thursday, November 28th. Barclays upped their price target on shares of Cheesecake Factory from $38.00 to $44.00 and gave the company an “underweight” rating in a research report on Wednesday, October 30th. Bank of America upped their price target on shares of Cheesecake Factory from $47.00 to $49.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. UBS Group upped their price target on shares of Cheesecake Factory from $36.00 to $41.00 and gave the company a “sell” rating in a research report on Tuesday, January 7th. Finally, Robert W. Baird upped their price target on shares of Cheesecake Factory from $40.00 to $47.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $49.40.

Insider Activity at Cheesecake Factory

In other news, insider Keith Carango sold 13,095 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $49.88, for a total value of $653,178.60. Following the completion of the sale, the insider now directly owns 14,977 shares of the company’s stock, valued at $747,052.76. This represents a 46.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 8.10% of the stock is currently owned by insiders.

About Cheesecake Factory

The Cheesecake Factory Incorporated operates and licenses restaurants in the United States and Canada. The company operates bakeries that produce cheesecakes and other baked products for its restaurants, international licensees, third-party bakery customers, external foodservice operators, retailers, and distributors.