Fifth Third Bancorp Has $737,000 Stock Position in The Cheesecake Factory Incorporated $CAKE

Fifth Third Bancorp boosted its position in shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE) by 4,184.7% in the 1st quarter, HoldingsChannel reports. The firm owned 13,454 shares of the restaurant operator’s stock after buying an additional 13,140 shares during the period. Fifth Third Bancorp’s holdings in Cheesecake Factory were worth $737,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Cheesecake Factory by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,742 shares of the restaurant operator’s stock worth $1,399,000 after buying an additional 1,268 shares during the last quarter. Woodline Partners LP raised its stake in shares of Cheesecake Factory by 30.9% in the first quarter. Woodline Partners LP now owns 92,664 shares of the restaurant operator’s stock valued at $4,509,000 after acquiring an additional 21,887 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Cheesecake Factory by 8.5% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 109,800 shares of the restaurant operator’s stock valued at $5,343,000 after acquiring an additional 8,592 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of 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 in the last quarter. Finally, First Trust Advisors LP boosted its holdings in shares of Cheesecake Factory by 5.0% in the 2nd quarter. First Trust Advisors LP now owns 112,020 shares of the restaurant operator’s stock worth $7,019,000 after acquiring an additional 5,326 shares in the last quarter. 94.48% of the stock is owned by institutional investors.

Insider Activity

In other Cheesecake Factory news, Director Alexander L. Cappello sold 2,490 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $64.90, for a total transaction of $161,601.00. Following the transaction, the director directly owned 6,171 shares in the company, valued at approximately $400,497.90. This represents a 28.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman David Overton sold 104,000 shares of the company’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 owned 3,079,779 shares in the company, valued at approximately $187,928,114.58. The trade was a 3.27% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 8.00% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on CAKE shares. UBS Group raised their price target on Cheesecake Factory from $53.00 to $60.00 and gave the company a “sell” rating in a report on Thursday. Citigroup boosted their price objective on Cheesecake Factory from $76.00 to $90.00 and gave the stock a “buy” rating in a research note on Friday, July 10th. JPMorgan Chase & Co. upgraded Cheesecake Factory from an “underweight” rating to a “neutral” rating and increased their target price for the stock from $58.00 to $68.00 in a report on Thursday, May 14th. Oppenheimer increased their target price on Cheesecake Factory from $72.00 to $91.00 and gave the stock an “outperform” rating in a report on Monday. Finally, Bank of America raised their target price on Cheesecake Factory from $66.00 to $79.00 and gave the company a “neutral” rating in a research note on Thursday, July 2nd. Five investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, Cheesecake Factory presently has a consensus rating of “Hold” and a consensus price target of $70.00.

Cheesecake Factory Stock Up 2.7%

NASDAQ CAKE opened at $87.03 on Tuesday. The stock has a market capitalization of $4.32 billion, a P/E ratio of 25.45, a price-to-earnings-growth ratio of 1.98 and a beta of 1.01. The Cheesecake Factory Incorporated has a 52 week low of $43.07 and a 52 week high of $87.90. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.53 and a current ratio of 0.59. The stock has a fifty day moving average of $74.55 and a 200-day moving average of $65.05.

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

Cheesecake Factory Company 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.