First Eagle Investment Management LLC Acquires 60,890 Shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE)

First Eagle Investment Management LLC lifted its stake in The Cheesecake Factory Incorporated (NASDAQ:CAKEFree Report) by 23.7% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 317,683 shares of the restaurant operator’s stock after purchasing an additional 60,890 shares during the period. First Eagle Investment Management LLC owned 0.62% of Cheesecake Factory worth $9,626,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Tower Research Capital LLC TRC lifted its holdings in Cheesecake Factory by 338.4% during the first quarter. Tower Research Capital LLC TRC now owns 982 shares of the restaurant operator’s stock worth $34,000 after acquiring an additional 758 shares in the last quarter. Pinebridge Investments L.P. bought a new position in Cheesecake Factory during the second quarter worth about $38,000. State of Wyoming bought a new position in Cheesecake Factory during the second quarter worth about $59,000. Quantbot Technologies LP lifted its holdings in Cheesecake Factory by 356.8% during the second quarter. Quantbot Technologies LP now owns 3,965 shares of the restaurant operator’s stock worth $104,000 after acquiring an additional 3,097 shares in the last quarter. Finally, Graham Capital Management L.P. bought a new position in Cheesecake Factory during the first quarter worth about $217,000. 88.68% of the stock is currently owned by institutional investors.

Cheesecake Factory Trading Up 1.3 %

Shares of NASDAQ:CAKE opened at $35.87 on Monday. The Cheesecake Factory Incorporated has a 12-month low of $28.58 and a 12-month high of $41.08. The stock has a market cap of $1.82 billion, a PE ratio of 20.47, a P/E/G ratio of 0.61 and a beta of 1.49. The business has a 50 day moving average of $33.81 and a 200-day moving average of $32.59. The company has a quick ratio of 0.35, a current ratio of 0.44 and a debt-to-equity ratio of 1.46.

Analyst Upgrades and Downgrades

CAKE has been the topic of several recent research reports. TheStreet downgraded Cheesecake Factory from a “b-” rating to a “c+” rating in a research note on Monday, October 30th. Piper Sandler dropped their price target on Cheesecake Factory from $36.00 to $33.00 and set a “neutral” rating on the stock in a research note on Thursday, November 2nd. Wedbush raised Cheesecake Factory from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $34.00 to $40.00 in a research report on Thursday, December 21st. Stephens lowered their target price on Cheesecake Factory from $40.00 to $35.00 and set an “overweight” rating on the stock in a research report on Thursday, November 2nd. Finally, Barclays lowered their target price on Cheesecake Factory from $28.00 to $26.00 and set an “underweight” rating on the stock in a research report on Thursday, November 2nd. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $34.85.

View Our Latest Stock Report on CAKE

About Cheesecake Factory

(Free Report)

The Cheesecake Factory Incorporated engages in restaurant business. The company operates two bakeries that produces cheesecakes and other baked products for its restaurants, international licensees, third-party bakery customers, external foodservice operators, retailers, and distributors. It also operates restaurants in the United States and Canada under brands comprising The Cheesecake Factory, North Italia, and a collection of Fox Restaurant Concepts, as well as The Cheesecake Factory restaurants under licensing agreements internationally.

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Institutional Ownership by Quarter for Cheesecake Factory (NASDAQ:CAKE)

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