Notable Price Action: Cheesecake Factory Inc’s Trend Up, Especially After Today’s 52-Week High Milestone

Notable Price Action: Cheesecake Factory Inc's Trend Up, Especially After Today's 52 Week High Milestone

The stock of Cheesecake Factory Inc (NASDAQ:CAKE) hit a new 52-week high and has $72.82 target or 22.00% above today’s $59.69 share price. The 7 months bullish chart indicates low risk for the $2.88 billion company. The 1-year high was reported on Nov, 14 by Barchart.com. If the $72.82 price target is reached, the company will be worth $633.60M 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 119,222 shares traded hands. Cheesecake Factory Inc (NASDAQ:CAKE) has risen 12.00% since April 12, 2016 and is uptrending. It has outperformed by 7.02% 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. The Cheesecake Factory Incorporated has been the topic of 15 analyst reports since July 24, 2015 according to StockzIntelligence Inc. The rating was maintained by Stifel Nicolaus with “Buy” on Tuesday, October 27. Telsey Advisory Group initiated the shares of CAKE in a report on Tuesday, September 29 with “Market Perform” rating. The rating was upgraded by BTIG Research on Tuesday, October 27 to “Buy”. The company was initiated on Tuesday, February 9 by Maxim Group. Stifel Nicolaus downgraded the stock to “Sell” rating in Tuesday, July 26 report. The firm earned “Hold” rating on Thursday, July 23 by Wunderlich. The stock of Cheesecake Factory Inc (NASDAQ:CAKE) has “Outperform” rating given on Wednesday, November 9 by Telsey Advisory Group. The company was maintained on Tuesday, October 27 by Telsey Advisory Group. Stifel Nicolaus maintained it with “Buy” rating and $70 target price in Thursday, July 23 report. On Thursday, October 27 the stock rating was maintained by Maxim Group with “Buy”.

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.
Royal State Bank Of Canada reported 27,626 shares or 0% of all its holdings. Perkins Coie Communications holds 1,000 shares or 0.03% of its portfolio. Wagner Bowman Mngmt reported 4,240 shares or 0.08% of all its holdings. Barclays Public Limited Co last reported 1,311 shares in the company. Lpl Ltd Liability last reported 0% of its portfolio in the stock. Sawgrass Asset Ltd Liability Corporation owns 7,590 shares or 0.02% of their US portfolio. Crystal Rock holds 4.24% or 118,920 shares in its portfolio. Lba Wealth Mngmt Llc has 0% invested in the company for 130 shares. Blackrock Group Incorporated owns 42,364 shares or 0% of their US portfolio. Gabelli Funds Ltd Llc last reported 508,000 shares in the company. Fil Limited, a Bermuda-based fund reported 289,280 shares. Ameritas Invest Prns Inc has 10,596 shares for 0.03% of their US portfolio. Parametrica Mgmt has 4,293 shares for 0.31% of their US portfolio. Northern Corp owns 970,754 shares or 0.02% of their US portfolio. Bbva Compass Natl Bank holds 26,977 shares or 0.1% of its portfolio.

Insider Transactions: Since May 27, 2016, the stock had 0 buys, and 2 sales for $1.04 million net activity. 14,000 Cheesecake Factory Inc (NASDAQ:CAKE) shares with value of $699,020 were sold by BYFUGLIN MAX S. The insider BENN DOUG sold 6,512 shares worth $345,135.

More news for Cheesecake Factory Inc (NASDAQ:CAKE) were recently published by: Forbes.com, which released: “Ex-Dividend Reminder: Cheesecake Factory, Pool and Sonic” on November 03, 2016. Wsj.com‘s article titled: “Cheesecake Factory Posts Higher Profit” and published on April 28, 2016 is yet another important article.

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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