Janney Montgomery Scott LLC Buys 13,237 Shares of The Cheesecake Factory Incorporated $CAKE

Key Points

• Janney Montgomery Scott LLC significantly increased its stake in The Cheesecake Factory by 199.2%, acquiring an additional 13,237 shares during the second quarter, bringing their total holdings to 19,882 shares.
• The company reported a quarterly earnings per share (EPS) of $1.16, exceeding analyst expectations of $1.06, and revenue of $955.83 million, which was higher than the predicted $945.82 million.
• Analysts have set new price targets for the stock, with Goldman Sachs and Bank of America increasing their target prices to $67.00, while JPMorgan Chase set theirs at $58.00, indicating mixed ratings among investment analysts.

Janney Montgomery Scott LLC boosted its stake in The Cheesecake Factory Incorporated (NASDAQ:CAKE - Free Report) by 199.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 19,882 shares of the restaurant operator's stock after acquiring an additional 13,237 shares during the period. Janney Montgomery Scott LLC's holdings in Cheesecake Factory were worth $1,246,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Golden State Wealth Management LLC boosted its holdings in Cheesecake Factory by 100.0% in the first quarter. Golden State Wealth Management LLC now owns 1,060 shares of the restaurant operator's stock valued at $52,000 after acquiring an additional 530 shares in the last quarter. SBI Securities Co. Ltd. boosted its holdings in Cheesecake Factory by 38.5% in the first quarter. SBI Securities Co. Ltd. now owns 1,244 shares of the restaurant operator's stock valued at $61,000 after acquiring an additional 346 shares in the last quarter. Bayforest Capital Ltd bought a new stake in shares of Cheesecake Factory during the 1st quarter valued at $72,000. Smartleaf Asset Management LLC grew its position in shares of Cheesecake Factory by 24.4% in the 1st quarter. Smartleaf Asset Management LLC now owns 3,268 shares of the restaurant operator's stock worth $162,000 after buying an additional 640 shares during the period. Finally, Jefferies Financial Group Inc. purchased a new stake in shares of Cheesecake Factory in the 1st quarter worth about $211,000. Institutional investors own 94.48% of the company's stock.

Cheesecake Factory Stock Performance

Shares of Cheesecake Factory stock opened at $52.08 on Monday. The stock has a market cap of $2.59 billion, a price-to-earnings ratio of 16.02, a PEG ratio of 1.24 and a beta of 1.06. The firm's 50-day moving average is $58.66 and its 200 day moving average is $56.81. The Cheesecake Factory Incorporated has a 1 year low of $38.47 and a 1 year high of $69.70. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.51 and a quick ratio of 0.42.

Cheesecake Factory (NASDAQ:CAKE - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The restaurant operator reported $1.16 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.06 by $0.10. The company had revenue of $955.83 million for the quarter, compared to analysts' expectations of $945.82 million. Cheesecake Factory had a net margin of 4.33% and a return on equity of 45.92%. Cheesecake Factory's revenue was up 5.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.09 EPS. Sell-side analysts anticipate that The Cheesecake Factory Incorporated will post 3.71 EPS for the current fiscal year.

Analysts Set New Price Targets

CAKE has been the topic of a number of recent research reports. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $67.00 target price (up from $66.00) on shares of Cheesecake Factory in a research report on Thursday, July 10th. JPMorgan Chase & Co. upped their target price on shares of Cheesecake Factory from $50.00 to $58.00 and gave the stock an "underweight" rating in a research report on Wednesday, June 25th. Wells Fargo & Company upped their target price on shares of Cheesecake Factory from $60.00 to $65.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 30th. Piper Sandler upped their target price on shares of Cheesecake Factory from $54.00 to $62.00 and gave the stock a "neutral" rating in a research report on Monday, August 4th. Finally, Bank of America upped their target price on shares of Cheesecake Factory from $61.00 to $67.00 and gave the stock a "neutral" rating in a research report on Friday, July 18th. Eight investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $61.94.

Insider Activity

In other Cheesecake Factory news, Director Alexander L. Cappello sold 12,388 shares of the company's stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $65.88, for a total transaction of $816,121.44. Following the transaction, the director owned 6,806 shares in the company, valued at approximately $448,379.28. This represents a 64.54% decrease in their position. The transaction was disclosed in a legal 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 dated Thursday, August 14th. The shares were sold at an average price of $63.06, for a total transaction of $2,732,705.10. Following the transaction, the president owned 24,532 shares in the company, valued at $1,546,987.92. This represents a 63.85% decrease in their position. The disclosure for this sale can be found here. 8.10% of the stock is currently owned by corporate insiders.

Cheesecake Factory Profile

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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