IFP Advisors Inc Increases Position in The Cheesecake Factory Incorporated $CAKE

Key Points

• IFP Advisors Inc significantly increased its holdings in The Cheesecake Factory by 392,466.7% in the second quarter, acquiring a total of 11,777 shares worth approximately $743,000.
• Major sales by insiders include Alexander L. Cappello, who sold 12,388 shares, and David M. Gordon, who sold 43,335 shares, resulting in decreases of 64.54% and 63.85% in their respective holdings.
• Recent analyst reports have mixed views on the stock, with price targets ranging from $45 to $73 and a consensus average target of $62.56, reflecting an average "Hold" rating.

IFP Advisors Inc boosted its holdings in shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE - Free Report) by 392,466.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,777 shares of the restaurant operator's stock after acquiring an additional 11,774 shares during the period. IFP Advisors Inc's holdings in Cheesecake Factory were worth $743,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of CAKE. Ameritas Advisory Services LLC acquired a new position in Cheesecake Factory in the 2nd quarter valued at about $28,000. Golden State Wealth Management LLC boosted its holdings in Cheesecake Factory by 100.0% in the 1st quarter. Golden State Wealth Management LLC now owns 1,060 shares of the restaurant operator's stock valued at $52,000 after purchasing an additional 530 shares during the last quarter. SBI Securities Co. Ltd. boosted its holdings in Cheesecake Factory by 38.5% in the 1st quarter. SBI Securities Co. Ltd. now owns 1,244 shares of the restaurant operator's stock valued at $61,000 after purchasing an additional 346 shares during the last quarter. Bayforest Capital Ltd acquired a new position in Cheesecake Factory in the 1st quarter valued at about $72,000. Finally, Smartleaf Asset Management LLC boosted its holdings in Cheesecake Factory by 24.4% in the 1st quarter. Smartleaf Asset Management LLC now owns 3,268 shares of the restaurant operator's stock valued at $162,000 after purchasing an additional 640 shares during the last quarter. Hedge funds and other institutional investors own 94.48% of the company's stock.

Insider Activity at Cheesecake Factory

In related news, Director Alexander L. Cappello sold 12,388 shares of the company's stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $65.88, for a total transaction of $816,121.44. Following the sale, the director directly owned 6,806 shares of the company's stock, valued at $448,379.28. This represents a 64.54% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President David M. Gordon sold 43,335 shares of the company's stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $63.06, for a total transaction of $2,732,705.10. Following the sale, the president directly owned 24,532 shares in the company, valued at approximately $1,546,987.92. The trade was a 63.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.10% of the stock is owned by corporate insiders.

Analyst Ratings Changes

CAKE has been the topic of several recent analyst reports. Raymond James Financial boosted their target price on shares of Cheesecake Factory from $70.00 to $73.00 and gave the company an "outperform" rating in a report on Friday, August 15th. Morgan Stanley boosted their target price on shares of Cheesecake Factory from $45.00 to $47.00 and gave the company an "underweight" rating in a report on Thursday, July 31st. Wells Fargo & Company boosted their target price on shares of Cheesecake Factory from $60.00 to $65.00 and gave the company an "equal weight" rating in a report on Wednesday, July 30th. Stephens set a $70.00 price objective on shares of Cheesecake Factory in a report on Monday. Finally, Barclays upped their price objective on shares of Cheesecake Factory from $57.00 to $62.00 and gave the stock an "underweight" rating in a report on Wednesday, July 30th. Eight investment analysts have rated the stock with a Buy rating, five have given a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $62.56.

Cheesecake Factory Price Performance

Shares of CAKE opened at $53.77 on Tuesday. The Cheesecake Factory Incorporated has a fifty-two week low of $38.47 and a fifty-two week high of $69.70. The firm's 50 day moving average price is $58.49 and its 200 day moving average price is $56.84. The company has a market cap of $2.68 billion, a P/E ratio of 16.54, a PEG ratio of 1.24 and a beta of 1.06. The company has a quick ratio of 0.42, a current ratio of 0.51 and a debt-to-equity ratio of 1.40.

Cheesecake Factory (NASDAQ:CAKE - Get Free Report) last announced its earnings results on Tuesday, July 29th. The restaurant operator reported $1.16 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.10. Cheesecake Factory had a net margin of 4.33% and a return on equity of 45.92%. The firm had revenue of $955.83 million for the quarter, compared to the consensus estimate of $945.82 million. During the same period in the prior year, the firm earned $1.09 EPS. The firm's revenue for the quarter was up 5.7% on a year-over-year basis. On average, research analysts forecast that The Cheesecake Factory Incorporated will post 3.71 earnings per share for the current fiscal year.

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.

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