23,071 Shares in The Cheesecake Factory Incorporated (NASDAQ:CAKE) Bought by New Century Financial Group LLC

New Century Financial Group LLC bought a new stake in The Cheesecake Factory Incorporated (NASDAQ:CAKE) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 23,071 shares of the restaurant operator’s stock, valued at approximately $1,142,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Versant Capital Management Inc increased its holdings in shares of Cheesecake Factory by 108.1% in the 4th quarter. Versant Capital Management Inc now owns 616 shares of the restaurant operator’s stock valued at $29,000 after acquiring an additional 320 shares during the last quarter. Glenmede Trust Co. NA purchased a new position in Cheesecake Factory in the third quarter valued at approximately $223,000. Foundations Investment Advisors LLC acquired a new stake in Cheesecake Factory during the third quarter worth approximately $227,000. Janney Montgomery Scott LLC purchased a new stake in shares of Cheesecake Factory during the 4th quarter worth approximately $270,000. Finally, Y Intercept Hong Kong Ltd acquired a new position in shares of Cheesecake Factory in the 3rd quarter valued at $317,000. 94.48% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Cheesecake Factory

In related news, insider Keith Carango sold 13,095 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $49.88, for a total value of $653,178.60. Following the completion of the transaction, the insider now directly owns 14,977 shares of the company’s stock, valued at $747,052.76. This trade represents a 46.65 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 8.10% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on CAKE shares. Jefferies Financial Group boosted their price target on shares of Cheesecake Factory from $49.00 to $58.00 and gave the company a “buy” rating in a research report on Monday, December 16th. Oppenheimer raised Cheesecake Factory from a “market perform” rating to an “outperform” rating and set a $65.00 target price for the company in a report on Tuesday, January 7th. Citigroup raised their price target on Cheesecake Factory from $46.00 to $51.00 and gave the stock a “buy” rating in a research note on Friday, October 4th. Stephens boosted their price objective on Cheesecake Factory from $51.00 to $57.00 and gave the company an “overweight” rating in a research note on Thursday, December 12th. Finally, The Goldman Sachs Group assumed coverage on shares of Cheesecake Factory in a research report on Thursday, December 5th. They set a “buy” rating and a $56.00 target price on the stock. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $49.40.

Cheesecake Factory Stock Up 1.1 %

CAKE opened at $51.53 on Friday. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.44 and a quick ratio of 0.33. The Cheesecake Factory Incorporated has a 12 month low of $33.05 and a 12 month high of $52.90. The stock has a market capitalization of $2.63 billion, a P/E ratio of 19.59, a P/E/G ratio of 1.28 and a beta of 1.50. The business has a 50 day simple moving average of $49.04 and a 200-day simple moving average of $43.11.

Cheesecake Factory (NASDAQ:CAKE) last released its earnings results on Tuesday, October 29th. The restaurant operator reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.11. Cheesecake Factory had a return on equity of 43.90% and a net margin of 3.63%. The company had revenue of $865.50 million during the quarter, compared to the consensus estimate of $866.13 million. During the same quarter last year, the company earned $0.39 earnings per share. Cheesecake Factory’s quarterly revenue was up 4.3% compared to the same quarter last year. On average, equities analysts anticipate that The Cheesecake Factory Incorporated will post 3.31 earnings per share for the current fiscal year.

Cheesecake Factory Company 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.