The stock of Cheesecake Factory Inc (NASDAQ:CAKE) hit a new 52-week high and has $77.38 target or 41.00% above today’s $54.88 share price. The 8 months bullish chart indicates low risk for the $2.61B company. The 1-year high was reported on Nov, 9 by Barchart.com. If the $77.38 price target is reached, the company will be worth $1.07 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 442,817 shares traded hands. Cheesecake Factory Inc (NASDAQ:CAKE) has risen 1.84% since April 7, 2016 and is uptrending. It has underperformed by 2.94% the S&P500.
Cheesecake Factory Inc (NASDAQ:CAKE) Ratings Coverage
Out of 8 analysts covering The Cheesecake Factory Incorporated (NASDAQ:CAKE), 3 rate it a “Buy”, 1 “Sell”, while 4 “Hold”. This means 38% are positive. $70 is the highest target while $52 is the lowest. The $58.29 average target is 6.21% above today’s ($54.88) stock price. The Cheesecake Factory Incorporated has been the topic of 15 analyst reports since July 24, 2015 according to StockzIntelligence Inc. The rating was upgraded by BTIG Research to “Buy” on Tuesday, October 27. Telsey Advisory Group maintained Cheesecake Factory Inc (NASDAQ:CAKE) rating on Tuesday, October 27. Telsey Advisory Group has “Market Perform” rating and $55 price target. The company was maintained on Thursday, July 23 by Wunderlich. Stifel Nicolaus maintained it with “Buy” rating and $70 target price in Thursday, July 23 report. On Tuesday, February 9 the stock rating was initiated by Maxim Group with “Buy”. The stock has “Sell” rating given by Stifel Nicolaus on Tuesday, July 26. The rating was maintained by Maxim Group with “Buy” on Thursday, October 27. The firm earned “Market Perform” rating on Tuesday, September 29 by Telsey Advisory Group. Stifel Nicolaus maintained it with “Buy” rating and $65 target price in Tuesday, October 27 report. On Wednesday, November 9 the stock rating was upgraded by Telsey Advisory Group to “Outperform”.
According to Zacks Investment Research, “The Cheesecake Factory operates many upscale, high volume, casual dining restaurants. They offer over 200 menu items including appetizers, pizza, seafood, steaks, chicken, burgers, pasta, salads, sandwiches, omelets and signature desserts including over 40 varieties of cheesecake.”
Insitutional Activity: The institutional sentiment decreased to 1.07 in 2016 Q2. Its down 0.05, from 1.12 in 2016Q1. The ratio dived, as 25 funds sold all Cheesecake Factory Inc shares owned while 82 reduced positions. 25 funds bought stakes while 89 increased positions. They now own 41.87 million shares or 2.30% less from 42.86 million shares in 2016Q1.
Numeric Limited Liability Company has 27,600 shares for 0.01% of their US portfolio. Mutual Of America Management Ltd Llc holds 0.03% or 33,102 shares in its portfolio. Putnam Lc accumulated 0.01% or 77,985 shares. The Maryland-based Wagner Bowman Mgmt Corp has invested 0.08% in Cheesecake Factory Inc (NASDAQ:CAKE). Sei Invests last reported 0.01% of its portfolio in the stock. Systematic Fincl Management Lp has 36,955 shares for 0.02% of their US portfolio. Analytic Ltd Llc has invested 0.03% of its portfolio in Cheesecake Factory Inc (NASDAQ:CAKE). Landscape Mngmt Limited Liability Company owns 4,364 shares or 0.03% of their US portfolio. Balyasny Asset Mgmt Ltd Limited Liability Company has 0.2% invested in the company for 630,904 shares. Parametrica Limited accumulated 4,293 shares or 0.31% of the stock. Da Davidson & last reported 1,203 shares in the company. Rh Dinel Investment Counsel reported 4,505 shares or 0.25% of all its holdings. Invesco Ltd holds 0.02% of its portfolio in Cheesecake Factory Inc (NASDAQ:CAKE) for 1.11 million shares. Commonwealth Equity Serv holds 6,553 shares or 0% of its portfolio. Long Road Invest Counsel Ltd Liability Corporation last reported 34,919 shares in the company.
Insider Transactions: Since May 27, 2016, the stock had 0 insider purchases, and 2 selling transactions for $1.04 million net activity. BYFUGLIN MAX S also sold $699,020 worth of Cheesecake Factory Inc (NASDAQ:CAKE) on Friday, May 27. BENN DOUG sold $345,135 worth of stock or 6,512 shares.
Another recent and important Cheesecake Factory Inc (NASDAQ:CAKE) news was published by Forbes.com which published an article titled: “Ex-Dividend Reminder: Cheesecake Factory, Pool and Sonic” on November 03, 2016.
CAKE Company Profile
The Cheesecake Factory Incorporated, incorporated on February 13, 1992, is engaged in the restaurant and bakery business. The Firm operates approximately 200 Company-owned restaurants, including approximately 190 restaurants under The Cheesecake Factory mark and approximately 10 restaurants under the Grand Lux Cafe mark. The Company’s divisions include The Cheesecake Factory restaurants, and other, which includes Grand Lux Cafe, RockSugar Pan Asian Kitchen, bakery and international licensing. It operates a restaurant under the RockSugar Pan Asian Kitchen mark. It also operates approximately two bakery production facilities, which produce desserts for its restaurants, international licensees and third-party bakery customers.
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