Short Interest in The Cheesecake Factory Incorporated (NASDAQ:CAKE) Expands By 28.6%

The Cheesecake Factory Incorporated (NASDAQ:CAKE) saw a large increase in short interest in the month of January. As of January 15th, there was short interest totaling 10,235,478 shares, an increase of 28.6% from the December 31st total of 7,961,649 shares. Based on an average daily volume of 1,397,361 shares, the days-to-cover ratio is currently 7.3 days. Currently, 22.3% of the company’s stock are short sold. Currently, 22.3% of the company’s stock are short sold. Based on an average daily volume of 1,397,361 shares, the days-to-cover ratio is currently 7.3 days.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of CAKE. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Cheesecake Factory by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,742 shares of the restaurant operator’s stock worth $1,399,000 after purchasing an additional 1,268 shares in the last quarter. Woodline Partners LP boosted its stake in Cheesecake Factory by 30.9% in the 1st quarter. Woodline Partners LP now owns 92,664 shares of the restaurant operator’s stock valued at $4,509,000 after buying an additional 21,887 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Cheesecake Factory by 8.5% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 109,800 shares of the restaurant operator’s stock valued at $5,343,000 after acquiring an additional 8,592 shares during the period. Wealth Enhancement Advisory Services LLC grew its position in Cheesecake Factory by 11.6% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 8,329 shares of the restaurant operator’s stock valued at $547,000 after acquiring an additional 864 shares during the period. Finally, Janney Montgomery Scott LLC raised its stake in Cheesecake Factory by 199.2% during the second quarter. Janney Montgomery Scott LLC now owns 19,882 shares of the restaurant operator’s stock worth $1,246,000 after acquiring an additional 13,237 shares in the last quarter. 94.48% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on CAKE shares. Weiss Ratings lowered Cheesecake Factory from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, January 15th. Robert W. Baird set a $57.00 price target on shares of Cheesecake Factory in a research report on Wednesday, October 29th. Oppenheimer set a $70.00 price objective on shares of Cheesecake Factory in a research note on Wednesday, October 29th. Argus decreased their target price on shares of Cheesecake Factory from $72.00 to $55.00 and set a “buy” rating for the company in a research note on Friday, November 7th. Finally, Morgan Stanley upped their price target on shares of Cheesecake Factory from $49.00 to $50.00 and gave the stock an “underweight” rating in a research note on Tuesday, January 20th. Eight research analysts have rated the stock with a Buy rating, seven have given a Hold rating and four have issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $59.41.

Cheesecake Factory Stock Performance

Shares of NASDAQ CAKE traded up $0.64 during trading hours on Monday, hitting $58.60. 905,054 shares of the stock were exchanged, compared to its average volume of 1,260,784. Cheesecake Factory has a one year low of $42.69 and a one year high of $69.70. The company’s 50 day moving average is $52.94 and its 200 day moving average is $55.31. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.55 and a quick ratio of 0.47. The firm has a market capitalization of $2.92 billion, a P/E ratio of 17.76, a P/E/G ratio of 1.47 and a beta of 1.01.

About Cheesecake Factory

The Cheesecake Factory Incorporated (NASDAQ:CAKE) is an American restaurant company and distributor renowned for its full-service casual-dining concept and specialty cheesecakes. Headquartered in Calabasas Hills, California, the company operates more than 200 restaurants under The Cheesecake Factory® brand across the United States, Puerto Rico and select international markets. In addition to sit-down dining, Cheesecake Factory franchised locations offer catering and take-out services, while a separate manufacturing arm supplies branded cheesecakes and desserts to supermarkets, hotels and other foodservice operators.

The origins of the brand trace back to a small cheesecake bakery founded in Detroit in the 1940s.