Baird Financial Group Inc. Invests $601,000 in Cheesecake Factory Inc (CAKE) Stock

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Baird Financial Group Inc. bought a new stake in Cheesecake Factory Inc (NASDAQ:CAKE) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 12,460 shares of the restaurant operator’s stock, valued at approximately $601,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vident Investment Advisory LLC boosted its stake in shares of Cheesecake Factory by 78.8% in the 4th quarter. Vident Investment Advisory LLC now owns 10,894 shares of the restaurant operator’s stock valued at $525,000 after purchasing an additional 4,800 shares during the last quarter. Gagnon Securities LLC bought a new position in Cheesecake Factory during the 4th quarter worth approximately $798,000. Stone Ridge Asset Management LLC bought a new position in Cheesecake Factory during the 4th quarter worth approximately $683,000. Envestnet Asset Management Inc. boosted its stake in Cheesecake Factory by 21.4% during the 4th quarter. Envestnet Asset Management Inc. now owns 28,868 shares of the restaurant operator’s stock worth $1,391,000 after acquiring an additional 5,081 shares during the last quarter. Finally, UBS Asset Management Americas Inc. boosted its stake in Cheesecake Factory by 271.7% during the 4th quarter. UBS Asset Management Americas Inc. now owns 323,896 shares of the restaurant operator’s stock worth $15,605,000 after acquiring an additional 236,768 shares during the last quarter. 97.62% of the stock is currently owned by institutional investors.

Shares of CAKE stock opened at $55.06 on Friday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.36 and a current ratio of 0.48. The company has a market cap of $2.56 billion, a price-to-earnings ratio of 21.18, a P/E/G ratio of 1.45 and a beta of 0.27. Cheesecake Factory Inc has a 52 week low of $38.34 and a 52 week high of $60.08.

Cheesecake Factory (NASDAQ:CAKE) last announced its earnings results on Wednesday, April 25th. The restaurant operator reported $0.56 EPS for the quarter, missing the consensus estimate of $0.68 by ($0.12). The company had revenue of $590.69 million for the quarter, compared to analyst estimates of $583.76 million. Cheesecake Factory had a return on equity of 19.01% and a net margin of 6.49%. The business’s quarterly revenue was up 4.8% on a year-over-year basis. During the same quarter last year, the business posted $0.72 earnings per share. analysts forecast that Cheesecake Factory Inc will post 2.68 EPS for the current year.

In other news, VP Debby R. Zurzolo sold 14,229 shares of Cheesecake Factory stock in a transaction that occurred on Tuesday, May 8th. The shares were sold at an average price of $53.74, for a total value of $764,666.46. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman David Overton sold 93,300 shares of Cheesecake Factory stock in a transaction that occurred on Monday, April 30th. The shares were sold at an average price of $51.93, for a total transaction of $4,845,069.00. The disclosure for this sale can be found here. Insiders sold 133,110 shares of company stock worth $6,953,971 over the last quarter. 8.80% of the stock is owned by corporate insiders.

CAKE has been the topic of several recent analyst reports. Maxim Group lifted their price objective on shares of Cheesecake Factory from $57.00 to $60.00 and gave the stock a “buy” rating in a research note on Thursday, June 14th. Bank of America lifted their price objective on shares of Cheesecake Factory from $52.00 to $55.00 and gave the stock a “neutral” rating in a research note on Thursday, June 14th. Canaccord Genuity reissued a “hold” rating and set a $57.00 price objective on shares of Cheesecake Factory in a research note on Friday, April 20th. Barclays lifted their price objective on shares of Cheesecake Factory from $48.00 to $52.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 26th. Finally, Telsey Advisory Group lifted their price objective on shares of Cheesecake Factory from $48.00 to $52.00 and gave the stock a “market perform” rating in a research note on Thursday, April 26th. Seventeen research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Cheesecake Factory has a consensus rating of “Hold” and a consensus target price of $50.09.

Cheesecake Factory Profile

The Cheesecake Factory Incorporated operates restaurants in the United States. 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 February 28, 2018, it operated 214 company-owned restaurants, including 199 restaurants under The Cheesecake Factory brand; 13 restaurants under the Grand Lux Cafe brand; and 2 restaurants under the RockSugar Southeast Asian Kitchen brand, as well as 20 The Cheesecake Factory branded restaurants under licensing agreements internationally.

Institutional Ownership by Quarter for Cheesecake Factory (NASDAQ:CAKE)

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