Saturday, June 25, 2022

An Analysis of The Cheesecake Factory Incorporated (CAKE)’s Potential Price Growth

In a filing, The Cheesecake Factory Incorporated revealed its Director PITTAWAY DAVID BRUCE acquired Company’s shares for reported $17255.0 on Mar 08. In the deal valued at $34.51 per share,500 shares were bought. As a result of this transaction, PITTAWAY DAVID BRUCE now holds 15,101 shares worth roughly $ 0.41 million.

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Then, CAPPELLO ALEXANDER L bought 400 shares, generating $16,276 in total proceeds. Upon buying the shares at $40.69, the Director now owns 5,716 shares.

Before that, PITTAWAY DAVID BRUCE bought 500 shares. The Cheesecake Factory Incorporated shares valued at $21,025 were divested by the Director at a price of $42.05 per share. As a result of the transaction, PITTAWAY DAVID BRUCE now holds 14,601 shares, worth roughly $0.4 million.

Taking this into account, Citigroup initiated its The Cheesecake Factory Incorporated [CAKE] rating to a Buy in a research note published on Tuesday, April 12, 2022; the price target was $52. PT values the company’s stock at a premium of 47.94 to its Tuesday closing price. A number of analysts have revised their coverage, including Stephens’s analysts, who increased its forecast for the stock in early January from “an Equal-weight” to “an Overweight”. Piper Sandler also remained covering CAKE and has decreased its forecast on January 03, 2022 with a “Neutral” recommendation from previously “an Overweight” rating. Wells Fargo maintained its rating on November 04, 2021. It rated CAKE as “an Overweight”.

Price Performance Review of CAKE

On Tuesday, The Cheesecake Factory Incorporated [NASDAQ:CAKE] saw its stock fall -3.46% to $27.07. On the same session, the stock had its day’s lowest price of $27.06, but rose to a high of $28.91. Over the last five days, the stock has lost -5.51%. The Cheesecake Factory Incorporated shares have fallen nearly -30.86% since the year began. Nevertheless, the stocks have fallen -48.85% over the past one year. While a 52-week high of $55.31 was reached on 02/17/22, a 52-week low of $26.72 was recorded on 06/16/22. SMA at 50 days reached $33.58, while 200 days put it at $39.00. A total of 0.89 million shares were traded, compared to the trading of 0.9 million shares in the previous session.

Levels Of Support And Resistance For CAKE Stock

The 24-hour chart illustrates a support level at 26.45, which if violated will result in even more drops to 25.83. On the upside, there is a resistance level at 28.30. A further resistance level may holdings at 29.53. The Relative Strength Index (RSI) on the 14-day chart is 35.62, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -2.86, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 94.58%. Stochastics %K at 13.50% indicates the stock is a buying.

How much short interest is there in The Cheesecake Factory Incorporated?

A steep rise in short interest was recorded in The Cheesecake Factory Incorporated stocks on Apr 28, 2022, dropping by 90000.0 shares to a total of 6.92 million shares. Yahoo Finance data shows the prior-month short interest on Mar 30, 2022 was 7.01 million shares. There was a decline of -1.3%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 19.20% of the overall stock float, the days-to-cover ratio (short ratio) fell to 6.52.

The Cheesecake Factory Incorporated [CAKE] – Who Are The Largest Shareholders?

In filings from BlackRock Fund Advisors, it is revealed that the company now owns 7,237,901 shares, or roughly 13.71% of the outstanding CAKE shares. In other words, the investor’s shares have risen by 57,272 from its previous 13-F filing of 7180629.0. Additionally, The Vanguard Group, Inc. increased 2.11% of its stake after which the total value it holdings stand at $171,712,987, while Kayne Anderson Rudnick Investment added 1.59% of its stake to hold $141.85 million in the firm. Over the last quarter, BAMCO, Inc. purchased 17,062 shares of The Cheesecake Factory Incorporated, while Frontier Capital Management Co. L bought 445,208 shares. At present, SSgA Funds Management, Inc. is holding 1,721,492 shares valued at $56.22 million. Fred Alger Management LLC owned 1,396,058 shares of the company at the time of its most recent 13F filing, worth $45.6 million.

According to FactSet, The Cheesecake Factory Incorporated’s share price will average $42.40 in the next year, based on opinions of analysts polled by the firm. This is up nearly 53.35 percent from its previous closing price of $28.04. Analysts expect The Cheesecake Factory Incorporated stock to reach the higher price of $50.00, while the lowest price estimate is $32.00. However, 19 analysts have rated CAKE stock as an Overweight in their predictions for 2022. The most recent change occurred on November 04, 2021 when Raymond James resumed its ‘”an Outperform”‘ rating for the stock and retained the price target to $52.50.

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