The Cheesecake Factory Incorporated $CAKE Shares Bought by Principal Financial Group Inc.

Principal Financial Group Inc. lifted its stake in shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE) by 8.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 299,520 shares of the restaurant operator’s stock after acquiring an additional 22,895 shares during the period. Principal Financial Group Inc. owned 0.60% of Cheesecake Factory worth $16,366,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Ameritas Advisory Services LLC acquired a new stake in shares of Cheesecake Factory during the 2nd quarter worth about $28,000. Parkside Financial Bank & Trust lifted its stake in shares of Cheesecake Factory by 39.2% during the second quarter. Parkside Financial Bank & Trust now owns 632 shares of the restaurant operator’s stock valued at $40,000 after buying an additional 178 shares during the period. CWM LLC boosted its position in Cheesecake Factory by 36.7% during the third quarter. CWM LLC now owns 1,357 shares of the restaurant operator’s stock worth $74,000 after acquiring an additional 364 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in Cheesecake Factory by 32.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,333 shares of the restaurant operator’s stock worth $83,000 after acquiring an additional 323 shares during the period. Finally, Bayforest Capital Ltd raised its holdings in Cheesecake Factory by 16.4% in the 3rd quarter. Bayforest Capital Ltd now owns 1,568 shares of the restaurant operator’s stock valued at $86,000 after acquiring an additional 221 shares during the last quarter. Institutional investors and hedge funds own 94.48% of the company’s stock.

Cheesecake Factory Trading Up 0.4%

NASDAQ CAKE opened at $63.49 on Tuesday. The firm has a market capitalization of $3.16 billion, a price-to-earnings ratio of 19.24, a PEG ratio of 1.60 and a beta of 1.01. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.47 and a current ratio of 0.55. The Cheesecake Factory Incorporated has a one year low of $42.69 and a one year high of $69.70. The company’s 50 day moving average price is $54.69 and its 200 day moving average price is $55.18.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on CAKE shares. Mizuho set a $65.00 price objective on Cheesecake Factory and gave the stock an “outperform” rating in a report on Wednesday, October 29th. Barclays raised their price target on Cheesecake Factory from $48.00 to $51.00 and gave the stock an “underweight” rating in a research note on Wednesday, January 7th. Stephens dropped their price objective on shares of Cheesecake Factory from $70.00 to $64.00 and set an “overweight” rating for the company in a research note on Wednesday, October 29th. Oppenheimer set a $70.00 price objective on shares of Cheesecake Factory in a report on Wednesday, October 29th. Finally, Robert W. Baird set a $57.00 target price on shares of Cheesecake Factory in a report on Wednesday, October 29th. Eight analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $59.82.

About Cheesecake Factory

The Cheesecake Factory Incorporated (NASDAQ:CAKE) is an American restaurant company and distributor renowned for its full-service casual-dining concept and specialty cheesecakes. Headquartered in Calabasas Hills, California, the company operates more than 200 restaurants under The Cheesecake Factory® brand across the United States, Puerto Rico and select international markets. In addition to sit-down dining, Cheesecake Factory franchised locations offer catering and take-out services, while a separate manufacturing arm supplies branded cheesecakes and desserts to supermarkets, hotels and other foodservice operators.

The origins of the brand trace back to a small cheesecake bakery founded in Detroit in the 1940s.