Inspire Investing LLC Lowers Stake in The Cheesecake Factory Incorporated $CAKE

Inspire Investing LLC reduced its holdings in shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE) by 67.7% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 7,876 shares of the restaurant operator’s stock after selling 16,530 shares during the period. Inspire Investing LLC’s holdings in Cheesecake Factory were worth $494,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of CAKE. Wellington Management Group LLP grew its position in Cheesecake Factory by 156.7% during the 1st quarter. Wellington Management Group LLP now owns 3,045,705 shares of the restaurant operator’s stock worth $148,204,000 after purchasing an additional 1,859,194 shares during the last quarter. Westwood Holdings Group Inc. purchased a new position in Cheesecake Factory during the 1st quarter worth $75,795,000. Invesco Ltd. grew its position in Cheesecake Factory by 83.5% during the 1st quarter. Invesco Ltd. now owns 2,591,205 shares of the restaurant operator’s stock worth $126,088,000 after purchasing an additional 1,178,722 shares during the last quarter. Driehaus Capital Management LLC purchased a new position in Cheesecake Factory during the 1st quarter worth $47,720,000. Finally, Victory Capital Management Inc. grew its position in Cheesecake Factory by 64.1% during the 1st quarter. Victory Capital Management Inc. now owns 1,766,131 shares of the restaurant operator’s stock worth $85,940,000 after purchasing an additional 689,784 shares during the last quarter. 94.48% of the stock is owned by hedge funds and other institutional investors.

Cheesecake Factory Stock Down 2.9%

Shares of NASDAQ CAKE opened at $52.08 on Monday. The company has a quick ratio of 0.42, a current ratio of 0.51 and a debt-to-equity ratio of 1.40. The Cheesecake Factory Incorporated has a 52 week low of $38.47 and a 52 week high of $69.70. The firm has a 50-day moving average price of $58.66 and a 200 day moving average price of $56.81. The stock has a market capitalization of $2.59 billion, a price-to-earnings ratio of 16.02, a price-to-earnings-growth ratio of 1.24 and a beta of 1.06.

Cheesecake Factory (NASDAQ:CAKE) last announced its quarterly earnings data on Tuesday, July 29th. The restaurant operator reported $1.16 EPS for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $945.82 million. During the same quarter last year, the business earned $1.09 earnings per share. The business’s revenue for the quarter was up 5.7% compared to the same quarter last year. Equities research analysts anticipate that The Cheesecake Factory Incorporated will post 3.71 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have issued reports on CAKE. Wells Fargo & Company raised their price objective 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. Raymond James Financial raised their target price on shares of Cheesecake Factory from $70.00 to $73.00 and gave the stock an “outperform” rating in a research note on Friday, August 15th. Oppenheimer raised their target price on shares of Cheesecake Factory from $65.00 to $75.00 and gave the stock an “outperform” rating in a research note on Friday, July 11th. The Goldman Sachs Group restated a “neutral” rating and issued a $67.00 target price (up previously from $66.00) on shares of Cheesecake Factory in a research note on Thursday, July 10th. Finally, JPMorgan Chase & Co. raised their target price on shares of Cheesecake Factory from $50.00 to $58.00 and gave the stock an “underweight” rating in a research note on Wednesday, June 25th. Eight research analysts have rated the stock with a Buy rating, five have given a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $61.94.

Insider Activity

In related news, President David M. Gordon sold 43,335 shares of the firm’s stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $63.06, for a total value of $2,732,705.10. Following the completion of the sale, the president owned 24,532 shares in the company, valued at $1,546,987.92. This trade represents a 63.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Alexander L. Cappello sold 12,388 shares of the firm’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 completion of the sale, the director owned 6,806 shares of the company’s stock, valued at $448,379.28. This trade represents a 64.54% decrease in their position. The disclosure for this sale can be found here. 8.10% of the stock is owned by company insiders.

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.