The Cheesecake Factory Incorporated (CAKE) Stake Reduced by Quantitative Systematic Strategies LLC

Quantitative Systematic Strategies LLC reduced its position in The Cheesecake Factory Incorporated (NASDAQ:CAKE) by 48.2% during the second quarter, Holdings Channel reports. The institutional investor owned 7,792 shares of the restaurant operator’s stock after selling 7,252 shares during the period. Quantitative Systematic Strategies LLC’s holdings in The Cheesecake Factory were worth $395,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Sawgrass Asset Management LLC raised its position in The Cheesecake Factory by 48.8% in the first quarter. Sawgrass Asset Management LLC now owns 5,445 shares of the restaurant operator’s stock worth $345,000 after buying an additional 1,785 shares in the last quarter. Profund Advisors LLC raised its position in The Cheesecake Factory by 3.7% in the first quarter. Profund Advisors LLC now owns 8,231 shares of the restaurant operator’s stock worth $522,000 after buying an additional 296 shares in the last quarter. Retirement Systems of Alabama raised its position in The Cheesecake Factory by 0.6% in the first quarter. Retirement Systems of Alabama now owns 57,300 shares of the restaurant operator’s stock worth $3,631,000 after buying an additional 339 shares in the last quarter. Capital Impact Advisors LLC raised its position in The Cheesecake Factory by 82.3% in the first quarter. Capital Impact Advisors LLC now owns 31,909 shares of the restaurant operator’s stock worth $2,022,000 after buying an additional 14,409 shares in the last quarter. Finally, Legato Capital Management LLC raised its position in The Cheesecake Factory by 6,236.0% in the first quarter. Legato Capital Management LLC now owns 57,531 shares of the restaurant operator’s stock worth $908,000 after buying an additional 56,623 shares in the last quarter. 97.02% of the stock is owned by hedge funds and other institutional investors.

The Cheesecake Factory Incorporated (NASDAQ:CAKE) traded down 2.22% during midday trading on Friday, hitting $47.67. 1,709,236 shares of the company traded hands. The stock’s 50-day moving average is $50.74 and its 200-day moving average is $58.57. The Cheesecake Factory Incorporated has a 12-month low of $47.37 and a 12-month high of $67.14. The firm has a market capitalization of $2.20 billion, a PE ratio of 16.67 and a beta of 0.33.

The Cheesecake Factory (NASDAQ:CAKE) last announced its earnings results on Wednesday, May 3rd. The restaurant operator reported $0.72 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.73 by $0.01. The Cheesecake Factory had a return on equity of 23.35% and a net margin of 6.15%. The business had revenue of $563.43 million for the quarter, compared to analyst estimates of $565.42 million. Analysts anticipate that The Cheesecake Factory Incorporated will post $2.84 EPS for the current fiscal year.

COPYRIGHT VIOLATION NOTICE: “[[title]]” was first reported by [[site]] and is owned by of [[site]]. If you are accessing this story on another domain, it was illegally stolen and reposted in violation of US and international trademark and copyright laws. The legal version of this story can be read at [[permalink]].

A number of equities research analysts have issued reports on the stock. Zacks Investment Research raised shares of The Cheesecake Factory from a “sell” rating to a “hold” rating in a research note on Tuesday, April 25th. Maxim Group reissued a “hold” rating and set a $65.00 target price (up previously from $59.00) on shares of The Cheesecake Factory in a research note on Monday, May 1st. Jefferies Group LLC raised shares of The Cheesecake Factory from an “underperform” rating to a “hold” rating and set a $52.00 target price for the company in a research note on Tuesday, June 13th. They noted that the move was a valuation call. Robert W. Baird reissued a “neutral” rating and set a $57.00 target price (down previously from $60.00) on shares of The Cheesecake Factory in a research note on Wednesday, June 14th. Finally, Morgan Stanley reissued an “equal weight” rating and set a $56.00 target price (down previously from $62.00) on shares of The Cheesecake Factory in a research note on Wednesday, June 14th. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and five have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $58.06.

In related news, VP Debby R. Zurzolo sold 6,424 shares of the stock in a transaction on Thursday, June 1st. The shares were sold at an average price of $59.09, for a total transaction of $379,594.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 8.50% of the company’s stock.

About The Cheesecake Factory

The Cheesecake Factory Incorporated is engaged in the restaurant and bakery business. As of March 2, 2017, the Company operated 208 Company-owned restaurants: 194 under The Cheesecake Factory mark, 13 under the Grand Lux Cafe mark and one under the Rock Sugar Pan Asian Kitchen mark. The Company’s segments include The Cheesecake Factory restaurants, and other.

Want to see what other hedge funds are holding CAKE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Cheesecake Factory Incorporated (NASDAQ:CAKE).