Oppenheimer Asset Management Inc. Takes Position in The Cheesecake Factory Incorporated (CAKE)

Oppenheimer Asset Management Inc. acquired a new stake in The Cheesecake Factory Incorporated (NASDAQ:CAKE) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 4,003 shares of the restaurant operator’s stock, valued at approximately $254,000.

Other institutional investors have also made changes to their positions in the company. Waratah Capital Advisors Ltd. acquired a new position in shares of The Cheesecake Factory during the first quarter valued at about $4,628,000. Nordea Investment Management AB boosted its position in shares of The Cheesecake Factory by 15.5% in the first quarter. Nordea Investment Management AB now owns 25,505 shares of the restaurant operator’s stock valued at $1,616,000 after buying an additional 3,419 shares in the last quarter. Louisiana State Employees Retirement System boosted its position in shares of The Cheesecake Factory by 2.8% in the first quarter. Louisiana State Employees Retirement System now owns 11,200 shares of the restaurant operator’s stock valued at $710,000 after buying an additional 300 shares in the last quarter. Mutual of America Capital Management LLC boosted its position in shares of The Cheesecake Factory by 3.9% in the first quarter. Mutual of America Capital Management LLC now owns 35,790 shares of the restaurant operator’s stock valued at $2,268,000 after buying an additional 1,336 shares in the last quarter. Finally, Thrivent Financial For Lutherans boosted its position in shares of The Cheesecake Factory by 3.5% in the first quarter. Thrivent Financial For Lutherans now owns 768,490 shares of the restaurant operator’s stock valued at $48,692,000 after buying an additional 25,660 shares in the last quarter. 96.94% of the stock is currently owned by institutional investors.

Shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE) opened at 49.31 on Wednesday. The firm has a 50-day moving average of $55.93 and a 200-day moving average of $60.19. The firm has a market capitalization of $2.27 billion, a PE ratio of 17.24 and a beta of 0.33. The Cheesecake Factory Incorporated has a 1-year low of $48.99 and a 1-year high of $67.14.

The Cheesecake Factory (NASDAQ:CAKE) last released its quarterly earnings results on Wednesday, May 3rd. The restaurant operator reported $0.72 earnings per share for the quarter, missing analysts’ consensus estimates of $0.73 by $0.01. The Cheesecake Factory had a return on equity of 23.35% and a net margin of 6.15%. The firm had revenue of $563.43 million for the quarter, compared to analyst estimates of $565.42 million. On average, equities research analysts anticipate that The Cheesecake Factory Incorporated will post $2.87 EPS for the current fiscal year.

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Several equities analysts have recently issued reports on CAKE shares. Zacks Investment Research raised shares of The Cheesecake Factory from a “sell” rating to a “hold” rating in a research note on Monday, March 20th. Argus cut shares of The Cheesecake Factory from a “buy” rating to a “hold” rating in a research note on Tuesday, June 20th. BidaskClub raised shares of The Cheesecake Factory from a “sell” rating to a “hold” rating in a research note on Tuesday, June 13th. Maxim Group reaffirmed a “hold” rating and issued a $65.00 price objective (up previously from $59.00) on shares of The Cheesecake Factory in a research note on Monday, May 1st. Finally, Wells Fargo & Company reaffirmed a “market perform” rating and issued a $55.00 price objective (down previously from $61.50) on shares of The Cheesecake Factory in a research note on Wednesday, June 14th. Four investment analysts have rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the company’s stock. The Cheesecake Factory has an average rating of “Hold” and a consensus target price of $57.73.

In other The Cheesecake Factory news, VP Debby R. Zurzolo sold 6,000 shares of The Cheesecake Factory stock in a transaction dated Thursday, May 25th. The stock was sold at an average price of $59.15, for a total value of $354,900.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Doug Benn sold 16,901 shares of The Cheesecake Factory stock in a transaction dated Monday, April 24th. The shares were sold at an average price of $64.02, for a total value of $1,082,002.02. Following the completion of the transaction, the chief financial officer now owns 70,261 shares in the company, valued at approximately $4,498,109.22. The disclosure for this sale can be found here. Insiders have sold a total of 29,325 shares of company stock valued at $1,816,496 in the last ninety days. Insiders own 8.50% of the company’s stock.

The Cheesecake Factory Company Profile

The Cheesecake Factory Incorporated is engaged in the restaurant and bakery business. As of March 2, 2017, the Company operated 208 Company-owned restaurants: 194 under The Cheesecake Factory mark, 13 under the Grand Lux Cafe mark and one under the Rock Sugar Pan Asian Kitchen mark. The Company’s segments include The Cheesecake Factory restaurants, and other.

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

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