Cheesecake Factory (NASDAQ:CAKE) Hits New 12-Month High – Here’s What Happened

The Cheesecake Factory Incorporated (NASDAQ:CAKE) shares reached 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 changing hands. The stock had previously closed at $56.15.

Wall Street Analysts Forecast Growth

CAKE has been the subject of several research reports. Oppenheimer raised Cheesecake Factory from a “market perform” rating to an “outperform” rating and set a $65.00 price objective for the company in a report on Tuesday, January 7th. Barclays lifted their price objective on Cheesecake Factory from $38.00 to $44.00 and gave the stock an “underweight” rating in a report on Wednesday, October 30th. Bank of America lifted 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. Wells Fargo & Company upped their price target on shares of Cheesecake Factory from $38.00 to $45.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Finally, StockNews.com lowered shares of Cheesecake Factory from a “buy” rating to a “hold” rating in a research note on Thursday, November 28th. 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’s stock. According to data from MarketBeat.com, Cheesecake Factory presently has an average rating of “Hold” and an average price target of $49.40.

Cheesecake Factory Stock Down 1.2 %

The firm has a market capitalization of $2.84 billion, a PE ratio of 21.15, a PEG ratio of 1.35 and a beta of 1.51. 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 business’s fifty day moving average price is $50.18 and its 200 day moving average price is $44.06.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Golden State Wealth Management LLC acquired a new stake in shares of Cheesecake Factory in the fourth quarter worth $25,000. Versant Capital Management Inc lifted its stake in 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 in the last quarter. Venturi Wealth Management LLC increased its holdings in Cheesecake Factory by 1,149.5% during the fourth 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. KBC Group NV boosted its holdings in shares of Cheesecake Factory by 46.9% during the 4th quarter. KBC Group NV now owns 2,321 shares of the restaurant operator’s stock worth $110,000 after buying an additional 741 shares during the period. Finally, Choreo LLC acquired a new position in Cheesecake Factory in the 4th quarter valued at $215,000. 94.48% of the stock is currently owned by institutional investors.

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.