KBC Group NV Raises Stock Holdings in The Cheesecake Factory Incorporated (NASDAQ:CAKE)

KBC Group NV grew its stake in shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE) by 46.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,321 shares of the restaurant operator’s stock after acquiring an additional 741 shares during the quarter. KBC Group NV’s holdings in Cheesecake Factory were worth $110,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Hennessy Advisors Inc. purchased a new stake in Cheesecake Factory in the fourth quarter worth approximately $63,114,000. Victory Capital Management Inc. lifted its holdings in shares of 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 buying an additional 99,341 shares during the period. State Street Corp boosted its stake in shares of Cheesecake Factory by 3.7% in the 3rd quarter. State Street Corp now owns 1,876,295 shares of the restaurant operator’s stock worth $76,084,000 after buying an additional 67,550 shares during the last quarter. Fred Alger Management LLC grew its holdings in shares of Cheesecake Factory by 159.6% in the third quarter. Fred Alger Management LLC now owns 97,765 shares of the restaurant operator’s stock worth $3,964,000 after acquiring an additional 60,100 shares during the period. Finally, Tabor Asset Management LP purchased a new stake in Cheesecake Factory during the third quarter valued at $1,327,000. 94.48% of the stock is currently owned by institutional investors.

Cheesecake Factory Trading Down 4.1 %

Cheesecake Factory stock opened at $53.31 on Friday. The Cheesecake Factory Incorporated has a 1 year low of $33.05 and a 1 year high of $57.32. The firm’s 50 day moving average price is $50.47 and its 200-day moving average price is $44.32. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.44 and a quick ratio of 0.33. The stock has a market cap of $2.72 billion, a P/E ratio of 20.27, a PEG ratio of 1.35 and a beta of 1.51.

Analyst Ratings Changes

CAKE has been the topic of several research reports. Raymond James raised their target price on Cheesecake Factory from $51.00 to $56.00 and gave the stock an “outperform” rating in a research report on Monday, December 16th. Jefferies Financial Group boosted their target price on shares of Cheesecake Factory from $49.00 to $58.00 and gave the company a “buy” rating in a research report on Monday, December 16th. Wells Fargo & Company upped their target price on shares of Cheesecake Factory from $38.00 to $45.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Oppenheimer raised shares of Cheesecake Factory from a “market perform” rating to an “outperform” rating and set a $65.00 price objective for the company in a research report on Tuesday, January 7th. Finally, StockNews.com cut Cheesecake Factory from a “buy” rating to a “hold” rating in a report on Thursday, November 28th. Three analysts have rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $49.93.

About Cheesecake Factory

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.