Sat Sep 21 11:35:09 UTC 2024: ## Cheesecake Factory Sees Increased Institutional Interest Amidst Mixed Analyst Opinions

**New York, NY** – The Cheesecake Factory Incorporated (NASDAQ: CAKE) saw a flurry of activity from hedge funds and institutional investors in the second quarter of 2024, according to recent SEC filings. Wealth Alliance acquired a new stake in the restaurant operator, purchasing 5,431 shares valued at approximately $213,000. This activity was mirrored by other institutional investors, including Allspring Global Investments Holdings LLC, Ables Iannone Moore & Associates Inc., Quadrant Capital Group LLC, GAMMA Investing LLC, and nVerses Capital LLC.

While institutional interest is growing, analysts remain divided on the future of CAKE. Wedbush reiterated an “outperform” rating and set a $45.00 price target, while Robert W. Baird upped their target price from $37.00 to $40.00 but maintained a “neutral” rating. Stephens issued an “overweight” rating and a $50.00 price target, but JPMorgan Chase & Co. lowered their price target to $38.00 and assigned an “underweight” rating. Wells Fargo & Company increased their price objective to $38.00, giving the company an “equal weight” rating.

Overall, the stock currently holds an average rating of “Hold” with an average price target of $40.08, according to MarketBeat.com.

The company reported strong second-quarter earnings, beating analysts’ estimates with earnings per share of $1.09. Revenue for the quarter reached $904.04 million, slightly below analysts’ expectations. The Cheesecake Factory also announced a quarterly dividend of $0.27 per share.

The stock opened at $38.73 on Friday, with a market cap of $1.97 billion.

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