The stock of Cheesecake Factory Inc (NASDAQ:CAKE) reached all time high today, Nov, 14 and still has $95.62 target or 60.00% above today’s $59.76 share price. This indicates more upside for the $2.88 billion company. This technical setup was reported by Barchart.com. If the $95.62 PT is reached, the company will be worth $1.73B 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. About 1.08M shares traded hands or 19.76% up from the average. 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 Wunderlich with “Hold” on Thursday, July 23. The company was upgraded on Tuesday, October 27 by BTIG Research. As per Tuesday, September 29, the company rating was initiated by Telsey Advisory Group. The rating was maintained by Stifel Nicolaus on Tuesday, October 27 with “Buy”. The firm has “Outperform” rating by Telsey Advisory Group given on Wednesday, November 9. Maxim Group initiated Cheesecake Factory Inc (NASDAQ:CAKE) rating on Tuesday, February 9. Maxim Group has “Buy” rating and $57 price target. The firm has “Buy” rating by Maxim Group given on Thursday, October 27. Stifel Nicolaus maintained the shares of CAKE in a report on Thursday, July 23 with “Buy” rating. The firm has “Sell” rating given on Tuesday, July 26 by Stifel Nicolaus. Telsey Advisory Group maintained it with “Market Perform” rating and $55 target price in Tuesday, October 27 report.
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 dropped, 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.
Teachers Advisors last reported 309,250 shares in the company. Shell Asset Mngmt Com last reported 0.02% of its portfolio in the stock. Susquehanna Grp Llp holds 0% or 53,357 shares in its portfolio. Parkside Fin Savings Bank Tru accumulated 77 shares or 0% of the stock. Weaver C Barksdale & Assoc Incorporated has invested 0.02% of its portfolio in Cheesecake Factory Inc (NASDAQ:CAKE). Fincl Bank Of Stockton holds 0.12% or 4,873 shares in its portfolio. Blackrock Japan has 2,128 shares for 0% of their US portfolio. Ubs Asset Mngmt Americas reported 27,811 shares or 0% of all its holdings. Nuveen Asset Mngmt Limited Com has invested 0.01% of its portfolio in Cheesecake Factory Inc (NASDAQ:CAKE). Scout Investments has 50,125 shares for 0.07% of their US portfolio. Proshare Advsr Ltd Liability holds 9,503 shares or 0.01% of its portfolio. The Illinois-based Balyasny Asset Management Lc has invested 0.2% in Cheesecake Factory Inc (NASDAQ:CAKE). The New Jersey-based Landscape Capital Ltd Llc has invested 0.03% in Cheesecake Factory Inc (NASDAQ:CAKE). State Board Of Administration Of Florida Retirement System holds 0.01% of its portfolio in Cheesecake Factory Inc (NASDAQ:CAKE) for 41,885 shares. Capital Fund Management holds 0.04% of its portfolio in Cheesecake Factory Inc (NASDAQ:CAKE) for 93,107 shares.
Insider Transactions: Since May 27, 2016, the stock had 0 buys, and 2 selling transactions for $1.04 million net activity. The insider BENN DOUG sold 6,512 shares worth $345,135. $699,020 worth of Cheesecake Factory Inc (NASDAQ:CAKE) was sold by BYFUGLIN MAX S on Friday, May 27.
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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