Allspring Global Investments Holdings LLC Has $2.31 Million Stock Holdings in The Cheesecake Factory Incorporated $CAKE

Allspring Global Investments Holdings LLC reduced its stake in The Cheesecake Factory Incorporated (NASDAQ:CAKE) by 68.8% in the 1st quarter, HoldingsChannel reports. The firm owned 41,734 shares of the restaurant operator’s stock after selling 92,187 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Cheesecake Factory were worth $2,308,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Salomon & Ludwin LLC boosted its position in shares of Cheesecake Factory by 226.5% during the 4th quarter. Salomon & Ludwin LLC now owns 604 shares of the restaurant operator’s stock worth $33,000 after purchasing an additional 419 shares in the last quarter. Global Retirement Partners LLC increased its position in Cheesecake Factory by 661.7% in the 4th quarter. Global Retirement Partners LLC now owns 716 shares of the restaurant operator’s stock valued at $36,000 after buying an additional 622 shares in the last quarter. NFSG Corp increased its position in Cheesecake Factory by 115.8% in the 1st quarter. NFSG Corp now owns 682 shares of the restaurant operator’s stock valued at $37,000 after buying an additional 366 shares in the last quarter. Root Financial Partners LLC increased its position in Cheesecake Factory by 973.2% in the 4th quarter. Root Financial Partners LLC now owns 880 shares of the restaurant operator’s stock valued at $44,000 after buying an additional 798 shares in the last quarter. Finally, Arax Advisory Partners acquired a new position in Cheesecake Factory during the 4th quarter worth approximately $50,000. Institutional investors and hedge funds own 94.48% of the company’s stock.

Insider Buying and Selling at Cheesecake Factory

In related news, Chairman David Overton sold 104,000 shares of the firm’s stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $61.02, for a total transaction of $6,346,080.00. Following the transaction, the chairman directly owned 3,079,779 shares of the company’s stock, valued at $187,928,114.58. This trade represents a 3.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Alexander L. Cappello sold 2,490 shares of the business’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $64.90, for a total transaction of $161,601.00. Following the transaction, the director owned 6,171 shares in the company, valued at approximately $400,497.90. This trade represents a 28.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 8.00% of the company’s stock.

Analyst Ratings Changes

CAKE has been the topic of several recent research reports. Oppenheimer increased their price target on Cheesecake Factory from $68.00 to $72.00 and gave the stock an “outperform” rating in a report on Tuesday, April 21st. JPMorgan Chase & Co. raised Cheesecake Factory from an “underweight” rating to a “neutral” rating and upped their target price for the stock from $58.00 to $68.00 in a research report on Thursday, May 14th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $68.00 target price on shares of Cheesecake Factory in a research report on Thursday, April 30th. Stephens lifted their price target on shares of Cheesecake Factory from $61.00 to $65.00 and gave the company an “equal weight” rating in a research report on Thursday, April 30th. Finally, Mizuho reissued a “neutral” rating and issued a $85.00 price target (up from $75.00) on shares of Cheesecake Factory in a research report on Friday. Five analysts have rated the stock with a Buy rating, ten have issued a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, Cheesecake Factory currently has a consensus rating of “Hold” and an average target price of $68.81.

Cheesecake Factory Stock Up 0.3%

Shares of NASDAQ:CAKE opened at $84.72 on Friday. The business’s 50 day moving average is $74.00 and its 200 day moving average is $64.77. The Cheesecake Factory Incorporated has a 12-month low of $43.07 and a 12-month high of $87.90. The stock has a market cap of $4.21 billion, a price-to-earnings ratio of 24.77, a PEG ratio of 1.98 and a beta of 1.01. The company has a quick ratio of 0.53, a current ratio of 0.59 and a debt-to-equity ratio of 1.22.

Cheesecake Factory (NASDAQ:CAKE) last released its quarterly earnings results on Wednesday, April 29th. The restaurant operator reported $1.05 EPS for the quarter, beating analysts’ consensus estimates of $1.03 by $0.02. Cheesecake Factory had a return on equity of 43.74% and a net margin of 4.34%.The business had revenue of $978.83 million during the quarter, compared to analyst estimates of $964.57 million. During the same period in the prior year, the firm posted $0.93 EPS. Cheesecake Factory’s quarterly revenue was up 5.6% compared to the same quarter last year. On average, sell-side analysts forecast that The Cheesecake Factory Incorporated will post 4.03 earnings per share for the current fiscal year.

Cheesecake Factory Profile

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.