Oak Harvest Investment Services Acquires 1,500 Shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE)

Oak Harvest Investment Services raised its holdings in shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE) by 17.6% during the fourth quarter, HoldingsChannel reports. The fund owned 10,000 shares of the restaurant operator’s stock after purchasing an additional 1,500 shares during the quarter. Oak Harvest Investment Services’ holdings in Cheesecake Factory were worth $474,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Versant Capital Management Inc lifted its holdings in Cheesecake Factory by 108.1% during the 4th quarter. Versant Capital Management Inc now owns 616 shares of the restaurant operator’s stock worth $29,000 after purchasing an additional 320 shares in the last quarter. Pathstone Holdings LLC lifted its holdings in shares of Cheesecake Factory by 0.9% in the third quarter. Pathstone Holdings LLC now owns 37,540 shares of the restaurant operator’s stock worth $1,522,000 after buying an additional 329 shares in the last quarter. Harbor Capital Advisors Inc. boosted its position in shares of Cheesecake Factory by 2.4% in the third quarter. Harbor Capital Advisors Inc. now owns 23,110 shares of the restaurant operator’s stock valued at $937,000 after acquiring an additional 532 shares during the period. Atria Investments Inc increased its holdings in Cheesecake Factory by 8.2% during the 3rd quarter. Atria Investments Inc now owns 9,074 shares of the restaurant operator’s stock worth $368,000 after acquiring an additional 689 shares during the period. Finally, KBC Group NV lifted its stake in Cheesecake Factory by 46.9% in the 4th quarter. KBC Group NV now owns 2,321 shares of the restaurant operator’s stock worth $110,000 after purchasing an additional 741 shares in the last quarter. Hedge funds and other institutional investors own 94.48% of the company’s stock.

Insider Transactions at Cheesecake Factory

In other Cheesecake Factory news, insider Keith Carango sold 13,095 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $49.88, for a total value of $653,178.60. Following the transaction, the insider now directly owns 14,977 shares of the company’s stock, valued at approximately $747,052.76. This trade represents a 46.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 8.10% of the company’s stock.

Cheesecake Factory Price Performance

CAKE stock opened at $56.17 on Friday. The firm has a 50-day moving average of $49.68 and a 200 day moving average of $43.65. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.44 and a quick ratio of 0.33. The company has a market cap of $2.87 billion, a P/E ratio of 21.36, a PEG ratio of 1.29 and a beta of 1.50. The Cheesecake Factory Incorporated has a 1 year low of $33.05 and a 1 year high of $56.32.

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

Wall Street Analysts Forecast Growth

CAKE has been the subject of several research analyst reports. Stephens lifted their price objective on Cheesecake Factory from $51.00 to $57.00 and gave the company an “overweight” rating in a research note on Thursday, December 12th. StockNews.com downgraded shares of Cheesecake Factory from a “buy” rating to a “hold” rating in a report on Thursday, November 28th. Robert W. Baird raised their price target on Cheesecake Factory from $40.00 to $47.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Citigroup boosted their target price on Cheesecake Factory from $46.00 to $51.00 and gave the stock a “buy” rating in a research report on Friday, October 4th. Finally, Jefferies Financial Group increased their target price on shares of Cheesecake Factory from $49.00 to $58.00 and gave the company a “buy” rating in a report on Monday, December 16th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $49.40.

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.