The stock of Cheesecake Factory Inc (NASDAQ:CAKE) reached all time high today, Nov, 24 and still has $63.41 target or 6.00% above today’s $59.82 share price. This indicates more upside for the $2.88B company. This technical setup was reported by Barchart.com. If the $63.41 PT is reached, the company will be worth $172.80M more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. The stock increased 0.57% or $0.34 on November 23, hitting $59.82. About 442,573 shares traded hands. Cheesecake Factory Inc (NASDAQ:CAKE) has risen 17.66% since April 22, 2016 and is uptrending. It has outperformed by 12.25% the S&P500.
Analysts await Cheesecake Factory Inc (NASDAQ:CAKE) to report earnings on February, 21. They expect $0.67 EPS, up 24.07% or $0.13 from last year’s $0.54 per share. CAKE’s profit will be $32.26 million for 22.32 P/E if the $0.67 EPS becomes a reality. After $0.70 actual EPS reported by Cheesecake Factory Inc for the previous quarter, Wall Street now forecasts -4.29% negative EPS growth.
Cheesecake Factory Inc (NASDAQ:CAKE) Ratings Coverage
Out of 10 analysts covering The Cheesecake Factory Incorporated (NASDAQ:CAKE), 3 rate it a “Buy”, 1 “Sell”, while 6 “Hold”. This means 30% are positive. The Cheesecake Factory Incorporated has been the topic of 18 analyst reports since July 24, 2015 according to StockzIntelligence Inc. Stifel Nicolaus maintained it with “Buy” rating and $65 target price in Tuesday, October 27 report. The firm has “Sell” rating by Stifel Nicolaus given on Tuesday, July 26. The rating was downgraded by Maxim Group on Tuesday, November 15 to “Hold”. The stock of Cheesecake Factory Inc (NASDAQ:CAKE) has “Hold” rating given on Thursday, July 23 by Wunderlich. The rating was upgraded by BTIG Research on Tuesday, October 27 to “Buy”. The company was downgraded on Wednesday, November 16 by Stephens. The rating was maintained by Stifel Nicolaus on Thursday, July 23 with “Buy”. The stock has “Buy” rating given by Maxim Group on Tuesday, February 9. The stock of Cheesecake Factory Inc (NASDAQ:CAKE) earned “Market Perform” rating by Telsey Advisory Group on Tuesday, October 27. The stock of Cheesecake Factory Inc (NASDAQ:CAKE) has “Market Perform” rating given on Tuesday, September 29 by Telsey Advisory Group.
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 1.01 in Q2 2016. Its down 0.06, from 1.07 in 2016Q1. The ratio turned negative, 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.
Arrow accumulated 0.01% or 1,000 shares. Teton Advsrs accumulated 55,000 shares or 0.24% of the stock. Private Wealth Prtnrs owns 7,000 shares or 0.08% of their US portfolio. Rhumbline Advisers has 0.01% invested in the company for 104,952 shares. Glenmede Tru Na holds 0% of its portfolio in Cheesecake Factory Inc (NASDAQ:CAKE) for 8,289 shares. Metropolitan Life Insur New York has 74,200 shares for 0.03% of their US portfolio. New York State Common Retirement Fund, a New York-based fund reported 61,123 shares. Dimensional Fund Advsrs Limited Partnership reported 1.23 million shares or 0.03% of all its holdings. Macquarie Gp Limited accumulated 0.1% or 1.08 million shares. Campbell & Investment Adviser Lc, a Maryland-based fund reported 8,794 shares. Voya Mngmt Ltd Liability last reported 0.13% of its portfolio in the stock. Susquehanna Gru Limited Liability Partnership accumulated 0% or 53,357 shares. Savings Bank Of Montreal Can last reported 4,469 shares in the company. Aperio Group Incorporated Ltd Limited Liability Company accumulated 286,843 shares or 0.11% of the stock. Eulav Asset Mngmt holds 0.13% of its portfolio in Cheesecake Factory Inc (NASDAQ:CAKE) for 47,900 shares.
Insider Transactions: Since May 27, 2016, the stock had 0 insider purchases, and 9 insider sales for $9.42 million net activity. OVERTON DAVID had sold 109,539 shares worth $6.32 million on Friday, November 18. The insider BENN DOUG sold 6,512 shares worth $345,135. $699,020 worth of Cheesecake Factory Inc (NASDAQ:CAKE) shares were sold by BYFUGLIN MAX S. 4,400 shares with value of $251,158 were sold by ZURZOLO DEBBY R on Thursday, November 17. KRANSDORF JEROME I sold $427,403 worth of stock or 7,500 shares. 15,000 shares were sold by Gordon David M, worth $889,506 on Tuesday, November 22. 1,000 shares were sold by SLOMANN CHERYL, worth $57,127.
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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