Fintel reports that Overton David has filed a 13G/A form with the SEC disclosing ownership of 3.77MM shares of Cheesecake Factory Incorporated (THE) (CAKE). This represents 7.2% of the company.
In their previous filing dated February 4, 2022 they reported 3.56MM shares and 6.70% of the company, an increase in shares of 6.09% and an increase in total ownership of 0.50% (calculated as current - previous percent ownership).
Analyst Price Forecast Suggests 7.88% Downside
As of February 7, 2023, the average one-year price target for Cheesecake Factory Incorporated is $34.95. The forecasts range from a low of $26.26 to a high of $42.00. The average price target represents a decrease of 7.88% from its latest reported closing price of $37.94.
The projected annual revenue for Cheesecake Factory Incorporated is $3,596MM, an increase of 12.83%. The projected annual EPS is $3.04, an increase of 206.78%.
What is the Fund Sentiment?
There are 514 funds or institutions reporting positions in Cheesecake Factory Incorporated. This is an increase of 4 owner(s) or 0.78% in the last quarter. Average portfolio weight of all funds dedicated to CAKE is 0.15%, an increase of 28.09%. Total shares owned by institutions increased in the last three months by 2.91% to 56,454K shares. The put/call ratio of CAKE is 1.40, indicating a bearish outlook.
What are large shareholders doing?
Kayne Anderson Rudnick Investment Management holds 4,015K shares representing 7.81% ownership of the company. In it's prior filing, the firm reported owning 4,064K shares, representing a decrease of 1.21%. The firm increased its portfolio allocation in CAKE by 15.05% over the last quarter.
IJR - iShares Core S&P Small-Cap ETF holds 3,546K shares representing 6.90% ownership of the company. In it's prior filing, the firm reported owning 3,413K shares, representing an increase of 3.74%. The firm increased its portfolio allocation in CAKE by 16.85% over the last quarter.
Bamco holds 3,014K shares representing 5.86% ownership of the company. In it's prior filing, the firm reported owning 2,452K shares, representing an increase of 18.65%. The firm increased its portfolio allocation in CAKE by 37.04% over the last quarter.
Frontier Capital Management Co holds 2,373K shares representing 4.61% ownership of the company. In it's prior filing, the firm reported owning 2,193K shares, representing an increase of 7.59%. The firm increased its portfolio allocation in CAKE by 22.14% over the last quarter.
BSCFX - BARON SMALL CAP FUND holds 2,250K shares representing 4.38% ownership of the company. In it's prior filing, the firm reported owning 1,700K shares, representing an increase of 24.44%. The firm increased its portfolio allocation in CAKE by 55.26% over the last quarter.
Cheesecake Factory Background Information
(This description is provided by the company.)
The Cheesecake Factory Incorporated is a leader in experiential dining. The company is culinary forward and relentlessly focused on hospitality. The Cheesecake Factory currently owns and operates 294 restaurants throughout the United States and Canada under brands including The Cheesecake Factory®, North Italia® and a collection within the Fox Restaurant Concepts subsidiary. Internationally, 27 The Cheesecake Factory® restaurants operate under licensing agreements. Its bakery division operates two facilities that produce quality cheesecakes and other baked products for its restaurants, international licensees and third-party bakery customers. In 2020, the company were named to the FORTUNE Magazine '100 Best Companies to Work For®' list for the seventh consecutive year.
This story originally appeared on Fintel.
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