The Cheesecake Factory Incorporated (NASDAQ:CAKE) Shares Sold by DAVENPORT & Co LLC

DAVENPORT & Co LLC lessened its stake in The Cheesecake Factory Incorporated (NASDAQ:CAKE) by 5.3% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 38,183 shares of the restaurant operator’s stock after selling 2,149 shares during the period. DAVENPORT & Co LLC owned 0.07% of Cheesecake Factory worth $1,811,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Hennessy Advisors Inc. bought a new position in shares of Cheesecake Factory in the fourth quarter valued at approximately $63,114,000. Victory Capital Management Inc. boosted its stake in Cheesecake Factory by 32.7% during the 3rd quarter. Victory Capital Management Inc. now owns 403,271 shares of the restaurant operator’s stock valued at $16,353,000 after purchasing an additional 99,341 shares in the last quarter. State Street Corp increased its position in shares of Cheesecake Factory by 3.7% during the 3rd quarter. State Street Corp now owns 1,876,295 shares of the restaurant operator’s stock valued at $76,084,000 after purchasing an additional 67,550 shares during the period. Fred Alger Management LLC increased its position in shares of Cheesecake Factory by 159.6% during the 3rd quarter. Fred Alger Management LLC now owns 97,765 shares of the restaurant operator’s stock valued at $3,964,000 after purchasing an additional 60,100 shares during the period. Finally, Tabor Asset Management LP bought a new stake in shares of Cheesecake Factory in the 3rd quarter worth $1,327,000. Institutional investors and hedge funds own 94.48% of the company’s stock.

Cheesecake Factory Stock Down 1.2 %

Cheesecake Factory stock opened at $55.62 on Thursday. The Cheesecake Factory Incorporated has a twelve month low of $33.05 and a twelve month high of $57.32. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.33 and a current ratio of 0.44. The firm has a market cap of $2.84 billion, a PE ratio of 21.15, a P/E/G ratio of 1.35 and a beta of 1.51. The firm’s 50 day moving average price is $50.30 and its two-hundred day moving average price is $44.14.

Analysts Set New Price Targets

CAKE has been the topic of a number of research analyst reports. The Goldman Sachs Group started coverage on Cheesecake Factory in a report on Thursday, December 5th. They set a “buy” rating and a $56.00 target price on the stock. UBS Group lifted their price objective on shares of Cheesecake Factory from $36.00 to $41.00 and gave the stock a “sell” rating in a research note on Tuesday, January 7th. Wells Fargo & Company increased their target price on shares of Cheesecake Factory from $38.00 to $45.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Bank of America lifted their price target on shares of Cheesecake Factory from $47.00 to $49.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Finally, Jefferies Financial Group increased their price objective on Cheesecake Factory from $49.00 to $58.00 and gave the company a “buy” rating in a research report on Monday, December 16th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $49.40.

Cheesecake Factory Company Profile

The Cheesecake Factory Incorporated operates and licenses restaurants in the United States and Canada. The company operates bakeries that produce cheesecakes and other baked products for its restaurants, international licensees, third-party bakery customers, external foodservice operators, retailers, and distributors.