Does The Cheesecake Factory Incorporated (CAKE) Have Any Gas After Forming This Double Top?

September 16, 2018 - By Victoria Pittman

The Cheesecake Factory Incorporated (NASDAQ:CAKE) Logo

Investors sentiment decreased to 0.96 in 2018 Q2. Its down 0.14, from 1.1 in 2018Q1. It is negative, as 23 investors sold The Cheesecake Factory Incorporated shares while 89 reduced holdings. 29 funds opened positions while 79 raised stakes. 47.41 million shares or 1.92% more from 46.52 million shares in 2018Q1 were reported.
New York-based Teton Advisors has invested 0.24% in The Cheesecake Factory Incorporated (NASDAQ:CAKE). Jane Street Group Lc has invested 0% in The Cheesecake Factory Incorporated (NASDAQ:CAKE). Tdam Usa holds 19,846 shares or 0.07% of its portfolio. Advsr Asset Mngmt accumulated 22,504 shares. Zurcher Kantonalbank (Zurich Cantonalbank) reported 0% in The Cheesecake Factory Incorporated (NASDAQ:CAKE). New Amsterdam Ptnrs Lc has 0.87% invested in The Cheesecake Factory Incorporated (NASDAQ:CAKE) for 66,916 shares. Voya Ltd Com holds 0.09% of its portfolio in The Cheesecake Factory Incorporated (NASDAQ:CAKE) for 784,960 shares. Arrowstreet Cap Lp reported 0% in The Cheesecake Factory Incorporated (NASDAQ:CAKE). Epoch Invest Prns holds 0.08% or 476,095 shares. 7,330 are held by Usa Fincl Portformulas Corp. Manufacturers Life Insur The reported 98,675 shares. Ser Automobile Association reported 53,351 shares. National Bank & Trust Of Montreal Can stated it has 5,741 shares or 0% of all its holdings. Victory Mgmt accumulated 17,513 shares. Ameriprise Fin reported 0% of its portfolio in The Cheesecake Factory Incorporated (NASDAQ:CAKE).

Since April 30, 2018, it had 2 insider purchases, and 7 sales for $6.64 million activity. 93,300 shares valued at $4.84 million were sold by OVERTON DAVID on Monday, April 30. Ames Edie A bought 500 shares worth $26,415. SLOMANN CHERYL sold 1,005 shares worth $53,206.

The chart of The Cheesecake Factory Incorporated (CAKE) shows a double top with $55.58 target or 5.00 % above today’s $52.93 share price. The 7 months chart pattern indicates low risk for the $2.34 billion company. It was reported on Sep, 16 by Finviz.com. If the $55.58 price target is reached, the company will be worth $116.75M more. Double tops are rare but powerful chart patterns.

The stock decreased 0.11% or $0.06 during the last trading session, reaching $52.93. About 732,652 shares traded. The Cheesecake Factory Incorporated (NASDAQ:CAKE) has risen 33.22% since September 16, 2017 and is uptrending. It has outperformed by 17.60% the S&P500.

Analysts await The Cheesecake Factory Incorporated (NASDAQ:CAKE) to report earnings on November, 7. They expect $0.58 earnings per share, up 3.57 % or $0.02 from last year’s $0.56 per share. CAKE’s profit will be $25.59 million for 22.81 P/E if the $0.58 EPS becomes a reality. After $0.65 actual earnings per share reported by The Cheesecake Factory Incorporated for the previous quarter, Wall Street now forecasts -10.77 % negative EPS growth.

The Cheesecake Factory Incorporated (NASDAQ:CAKE) Ratings Coverage

Among 9 analysts covering Cheesecake Factory (NASDAQ:CAKE), 0 have Buy rating, 0 Sell and 9 Hold. Therefore 0 are positive. Cheesecake Factory had 14 analyst reports since April 19, 2018 according to SRatingsIntel. The rating was downgraded by Maxim Group to “Hold” on Friday, June 22. The firm has “Equal-Weight” rating given on Wednesday, July 18 by Barclays Capital. The firm earned “Equal-Weight” rating on Thursday, April 26 by Morgan Stanley. The firm has “Hold” rating given on Thursday, April 19 by Canaccord Genuity. The firm has “Equal-Weight” rating given on Wednesday, August 1 by Barclays Capital. Bank of America maintained the stock with “Neutral” rating in Tuesday, July 24 report. Morgan Stanley maintained the shares of CAKE in report on Wednesday, August 1 with “Equal-Weight” rating. The rating was maintained by Jefferies with “Hold” on Wednesday, April 25. The rating was maintained by Bank of America with “Neutral” on Wednesday, August 1. Robert W. Baird maintained the shares of CAKE in report on Wednesday, July 25 with “Neutral” rating.

Another recent and important The Cheesecake Factory Incorporated (NASDAQ:CAKE) news was published by Seekingalpha.com which published an article titled: “Venture Capital Deals Of The Week: Alphabet’s $375M Bet On Oscar Health” on August 18, 2018.

The Cheesecake Factory Incorporated operates restaurants primarily in the United States. The company has market cap of $2.34 billion. The firm also produces cheesecakes and other baked products for foodservice operators, retailers, and distributors. It has a 17.95 P/E ratio. As of December 19, 2017, it operated 214 casual dining restaurants, including 199 under The Cheesecake Factory mark, 13 under the Grand Lux Cafe mark, and 2 restaurants under the Rock Sugar Pan Asian Kitchen mark; and 18 The Cheesecake Factory branded restaurants under licensing agreements internationally.

The Cheesecake Factory Incorporated (NASDAQ:CAKE) Institutional Positions Chart

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