Allspring Global Investments Holdings LLC Sells 92,187 Shares of The Cheesecake Factory Incorporated $CAKE

Allspring Global Investments Holdings LLC reduced its holdings in The Cheesecake Factory Incorporated (NASDAQ:CAKE) by 68.8% in the 1st quarter, according to the company in its most recent filing with the SEC. 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 owned approximately 0.08% of Cheesecake Factory worth $2,308,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of CAKE. Invesco Ltd. lifted its holdings in shares of Cheesecake Factory by 13.6% during the fourth quarter. Invesco Ltd. now owns 2,337,671 shares of the restaurant operator’s stock worth $118,006,000 after purchasing an additional 280,553 shares during the period. State Street Corp grew its stake in shares of Cheesecake Factory by 0.3% in the fourth quarter. State Street Corp now owns 1,785,955 shares of the restaurant operator’s stock worth $90,155,000 after purchasing an additional 4,535 shares during the last quarter. Victory Capital Management Inc. increased its holdings in Cheesecake Factory by 16.4% in the fourth quarter. Victory Capital Management Inc. now owns 1,474,320 shares of the restaurant operator’s stock valued at $74,424,000 after purchasing an additional 207,788 shares during the period. Dimensional Fund Advisors LP increased its holdings in Cheesecake Factory by 0.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,213,106 shares of the restaurant operator’s stock valued at $61,235,000 after purchasing an additional 5,910 shares during the period. Finally, Geode Capital Management LLC raised its position in Cheesecake Factory by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 1,152,174 shares of the restaurant operator’s stock worth $58,170,000 after purchasing an additional 4,577 shares during the last quarter. Institutional investors own 94.48% of the company’s stock.

Cheesecake Factory Stock Performance

Shares of Cheesecake Factory stock opened at $84.72 on Friday. The company has a current ratio of 0.59, a quick ratio of 0.53 and a debt-to-equity ratio of 1.22. The business has a 50-day moving average price of $74.00 and a two-hundred day moving average price of $64.77. The Cheesecake Factory Incorporated has a 1-year low of $43.07 and a 1-year high of $87.90. The company has a market cap of $4.21 billion, a P/E ratio of 24.77, a PEG ratio of 1.98 and a beta of 1.01.

Cheesecake Factory (NASDAQ:CAKE) last posted its quarterly earnings data on Wednesday, April 29th. The restaurant operator reported $1.05 earnings per share for the quarter, topping the consensus estimate of $1.03 by $0.02. The firm had revenue of $978.83 million during 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 business’s quarterly revenue was up 5.6% on a year-over-year basis. During the same period last year, the company posted $0.93 EPS. As a group, analysts anticipate that The Cheesecake Factory Incorporated will post 4.03 EPS for the current year.

Insider Activity at Cheesecake Factory

In other Cheesecake Factory news, Chairman David Overton sold 104,000 shares of the business’s stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $61.02, for a total value of $6,346,080.00. Following the transaction, the chairman directly owned 3,079,779 shares of the company’s stock, valued at approximately $187,928,114.58. The trade was a 3.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Alexander L. Cappello sold 2,490 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $64.90, for a total value of $161,601.00. Following the transaction, the director owned 6,171 shares in the company, valued at $400,497.90. The trade was a 28.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 8.00% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on CAKE shares. JPMorgan Chase & Co. raised Cheesecake Factory from an “underweight” rating to a “neutral” rating and lifted their target price for the stock from $58.00 to $68.00 in a report on Thursday, May 14th. Mizuho reissued a “neutral” rating and issued a $85.00 price target (up from $75.00) on shares of Cheesecake Factory in a research note on Friday. Northcoast Research downgraded Cheesecake Factory from a “buy” rating to a “neutral” rating in a research report on Monday, June 15th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $68.00 price objective on shares of Cheesecake Factory in a research note on Thursday, April 30th. Finally, Stephens upped their target price on Cheesecake Factory from $61.00 to $65.00 and gave the company an “equal weight” rating in a report on Thursday, April 30th. Five analysts have rated the stock with a Buy rating, ten have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, Cheesecake Factory currently has a consensus rating of “Hold” and a consensus target price of $68.81.

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.