What Next for The Cheesecake Factory Incorporated (CAKE) After Forming Bullish Double Top Pattern?

September 16, 2018 - By Michele Cranor

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 turned 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.
Jane Street Grp Lc stated it has 0% in The Cheesecake Factory Incorporated (NASDAQ:CAKE). Mutual Of America Mgmt Ltd Llc invested in 0.03% or 36,439 shares. Moreover, Td Asset has 0% invested in The Cheesecake Factory Incorporated (NASDAQ:CAKE) for 41,800 shares. Bankshares Of Ny Mellon has 0.03% invested in The Cheesecake Factory Incorporated (NASDAQ:CAKE) for 1.77 million shares. Hsbc Holding Public Ltd Liability, a United Kingdom-based fund reported 10,649 shares. Ls Advsrs Ltd Limited Liability Company stated it has 0.01% in The Cheesecake Factory Incorporated (NASDAQ:CAKE). Moreover, Rhumbline Advisers has 0.01% invested in The Cheesecake Factory Incorporated (NASDAQ:CAKE). Birch Run Capital Advisors Lp reported 66,000 shares or 1.27% of all its holdings. 122 were accumulated by Huntington Commercial Bank. Moreover, Envestnet Asset Mgmt Incorporated has 0% invested in The Cheesecake Factory Incorporated (NASDAQ:CAKE). Manufacturers Life Insur The holds 0.01% in The Cheesecake Factory Incorporated (NASDAQ:CAKE) or 98,675 shares. Usa Portformulas Corporation invested in 7,330 shares. Stone Ridge Asset Mgmt Llc holds 17,869 shares or 0.06% of its portfolio. Moreover, Gamco Invsts Et Al has 0.23% invested in The Cheesecake Factory Incorporated (NASDAQ:CAKE) for 608,553 shares. Louisiana State Employees Retirement System holds 11,500 shares.

Since April 30, 2018, it had 2 insider purchases, and 7 selling transactions for $6.64 million activity. OVERTON DAVID had sold 93,300 shares worth $4.84 million. 200 shares were bought by Ames Edie A, worth $10,488. $53,206 worth of stock was sold by SLOMANN CHERYL on Monday, August 27.

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. Barclays Capital maintained the stock with “Equal-Weight” rating in Wednesday, August 1 report. The firm earned “Equal-Weight” rating on Thursday, April 26 by Morgan Stanley. The stock of The Cheesecake Factory Incorporated (NASDAQ:CAKE) has “Equal-Weight” rating given on Thursday, April 26 by Barclays Capital. The rating was maintained by Barclays Capital on Wednesday, July 18 with “Equal-Weight”. Morgan Stanley maintained The Cheesecake Factory Incorporated (NASDAQ:CAKE) on Wednesday, August 1 with “Equal-Weight” rating. The firm has “Hold” rating by Jefferies given on Wednesday, April 25. On Thursday, April 26 the stock rating was maintained by Wedbush with “Neutral”. BTIG Research downgraded The Cheesecake Factory Incorporated (NASDAQ:CAKE) on Monday, June 18 to “Neutral” rating. The rating was maintained by Canaccord Genuity on Thursday, April 19 with “Hold”. Robert W. Baird maintained The Cheesecake Factory Incorporated (NASDAQ:CAKE) 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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