Cheesecake Factory Inc (CAKE) Position Reduced by Crystal Rock Capital Management

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Crystal Rock Capital Management lowered its position in shares of Cheesecake Factory Inc (NASDAQ:CAKE) by 9.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,725 shares of the restaurant operator’s stock after selling 2,400 shares during the period. Cheesecake Factory accounts for about 0.9% of Crystal Rock Capital Management’s holdings, making the stock its 28th biggest position. Crystal Rock Capital Management owned 0.05% of Cheesecake Factory worth $989,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Macquarie Group Ltd. grew its stake in Cheesecake Factory by 12.8% during the third quarter. Macquarie Group Ltd. now owns 1,940,959 shares of the restaurant operator’s stock valued at $103,919,000 after acquiring an additional 219,751 shares in the last quarter. Deutsche Bank AG lifted its position in Cheesecake Factory by 61.0% during the third quarter. Deutsche Bank AG now owns 219,054 shares of the restaurant operator’s stock valued at $11,726,000 after purchasing an additional 82,984 shares during the last quarter. Apertura Capital LLC bought a new stake in Cheesecake Factory during the fourth quarter valued at approximately $2,176,000. Nicola Wealth Management LTD. bought a new stake in Cheesecake Factory during the third quarter valued at approximately $2,945,000. Finally, Federated Investors Inc. PA lifted its position in Cheesecake Factory by 68.5% during the third quarter. Federated Investors Inc. PA now owns 17,441 shares of the restaurant operator’s stock valued at $934,000 after purchasing an additional 7,088 shares during the last quarter. 99.27% of the stock is owned by institutional investors.

Shares of CAKE opened at $46.38 on Thursday. The company has a market capitalization of $2.11 billion, a PE ratio of 19.70, a price-to-earnings-growth ratio of 1.21 and a beta of 0.36. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.45 and a quick ratio of 0.33. Cheesecake Factory Inc has a fifty-two week low of $41.63 and a fifty-two week high of $60.19.

Cheesecake Factory (NASDAQ:CAKE) last posted its quarterly earnings results on Wednesday, February 20th. The restaurant operator reported $0.60 EPS for the quarter, missing the Zacks’ consensus estimate of $0.62 by ($0.02). Cheesecake Factory had a net margin of 6.02% and a return on equity of 18.02%. The firm had revenue of $585.16 million for the quarter, compared to the consensus estimate of $593.71 million. During the same quarter in the prior year, the company earned $0.53 earnings per share. The company’s quarterly revenue was up 2.3% compared to the same quarter last year. Equities research analysts expect that Cheesecake Factory Inc will post 2.44 earnings per share for the current year.

Several equities research analysts have issued reports on CAKE shares. Barclays dropped their target price on shares of Cheesecake Factory from $54.00 to $51.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 31st. Raymond James upgraded shares of Cheesecake Factory from a “market perform” rating to an “outperform” rating in a research report on Tuesday, January 8th. Loop Capital started coverage on shares of Cheesecake Factory in a research report on Wednesday, October 24th. They set a “hold” rating and a $55.00 target price for the company. Maxim Group upgraded shares of Cheesecake Factory from a “hold” rating to a “buy” rating and set a $55.00 target price for the company in a research report on Wednesday, December 19th. Finally, BidaskClub lowered shares of Cheesecake Factory from a “hold” rating to a “sell” rating in a research report on Saturday, February 2nd. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating and two have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $53.42.

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About Cheesecake Factory

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 November 20, 2018, it operated 217 company-owned restaurants, including 201 restaurants under The Cheesecake Factory brand; 14 restaurants under the Grand Lux Cafe brand; and 2 restaurants under the RockSugar Southeast Asian Kitchen brand, as well as 21 The Cheesecake Factory branded restaurants under licensing agreements internationally.

See Also: Ex-Dividend

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

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