Cheesecake Factory (NASDAQ:CAKE) Sets New 52-Week High – What’s Next?

Shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE) hit a new 52-week high on Monday . The stock traded as high as $56.66 and last traded at $57.00, with a volume of 255097 shares traded. The stock had previously closed at $56.15.

Wall Street Analysts Forecast Growth

Several research analysts have commented on CAKE shares. StockNews.com downgraded Cheesecake Factory from a “buy” rating to a “hold” rating in a research note on Thursday, November 28th. Bank of America boosted their target price on shares of Cheesecake Factory from $47.00 to $49.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Barclays increased their price target on Cheesecake Factory from $38.00 to $44.00 and gave the company an “underweight” rating in a research note on Wednesday, October 30th. Wedbush upped their target price on Cheesecake Factory from $52.00 to $59.00 and gave the stock an “outperform” rating in a report on Thursday, November 14th. Finally, The Goldman Sachs Group began coverage on Cheesecake Factory in a research note on Thursday, December 5th. They set a “buy” rating and a $56.00 price target on the stock. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Cheesecake Factory has an average rating of “Hold” and an average price target of $49.40.

Cheesecake Factory Price Performance

The company has a quick ratio of 0.33, a current ratio of 0.44 and a debt-to-equity ratio of 1.19. The firm has a market cap of $2.91 billion, a P/E ratio of 21.71, a P/E/G ratio of 1.35 and a beta of 1.51. The business’s 50 day moving average is $49.87 and its two-hundred day moving average is $43.83.

Insider Activity

In other Cheesecake Factory news, insider Keith Carango sold 13,095 shares of Cheesecake Factory stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $49.88, for a total value of $653,178.60. Following the completion of the sale, the insider now directly owns 14,977 shares of the company’s stock, valued at approximately $747,052.76. The trade was a 46.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 8.10% of the stock is owned by company insiders.

Institutional Trading of Cheesecake Factory

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Hussman Strategic Advisors Inc. acquired a new position in Cheesecake Factory during the fourth quarter worth $797,000. New York State Common Retirement Fund lifted its holdings in Cheesecake Factory by 2.3% during the fourth quarter. New York State Common Retirement Fund now owns 200,222 shares of the restaurant operator’s stock worth $9,499,000 after acquiring an additional 4,516 shares during the period. Venturi Wealth Management LLC boosted its holdings in shares of Cheesecake Factory by 1,149.5% in the 4th quarter. Venturi Wealth Management LLC now owns 1,312 shares of the restaurant operator’s stock worth $62,000 after buying an additional 1,207 shares during the last quarter. Truist Financial Corp boosted its stake in Cheesecake Factory by 3.3% in the fourth quarter. Truist Financial Corp now owns 8,045 shares of the restaurant operator’s stock valued at $382,000 after acquiring an additional 257 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its position in shares of Cheesecake Factory by 5.2% during the 4th quarter. Principal Financial Group Inc. now owns 268,830 shares of the restaurant operator’s stock valued at $12,753,000 after buying an additional 13,235 shares during the last quarter. 94.48% of the stock is owned by institutional investors.

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.