In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Cheesecake Factory Inc. (NASDAQ:CAKE) reported that Overton David has picked up 3,507,903 of common stock as of 2017-02-10.
The acquisition brings the aggregate amount owned by Overton David to a total of 3,507,903 representing a 7.4% stake in the company.
For those not familiar with the company, The Cheesecake Factory Incorporated is engaged in the restaurant and bakery business. The Company operates approximately 200 Company-owned restaurants, including approximately 190 restaurants under The Cheesecake Factory mark and approximately 10 restaurants under the Grand Lux Cafe mark. The Company’s segments include The Cheesecake Factory restaurants, and other, which includes Grand Lux Cafe, RockSugar Pan Asian Kitchen, bakery and international licensing. It operates a restaurant under the RockSugar Pan Asian Kitchen mark. It also operates approximately two bakery production facilities, which produce desserts for its restaurants, international licensees and third-party bakery customers. The Company’s restaurants offer lunch and dinner, as well as Sunday brunch. Its restaurants also offer a bar. Its menu consists of over 200 items in addition to items presented on supplemental menus, such as its SkinnyLicious menu, which offers approximately 50 items.
A glance at Cheesecake Factory Inc. (NASDAQ:CAKE)’s key stats reveals a current market capitalization of 3.01 billion based on 47.43 million shares outstanding and a price at last close of $62.46 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2016-02-19, Mindel picked up 1,500 at a purchase price of $49.95. This brings their total holding to 6,500 as of the date of the filing.
On the sell side, the most recent transaction saw Zurzolo unload 1,497 shares at a sale price of $61.27. This brings their total holding to 26,097.
It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Cheesecake Factory Inc. (NASDAQ:CAKE) as things move forward to see if its progress aligns with these transactions.
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