Xponance Inc. Increases Position in Shake Shack Inc. (NYSE:SHAK)

Xponance Inc. increased its stake in shares of Shake Shack Inc. (NYSE:SHAK) by 4.5% during the second quarter, Holdings Channel reports. The institutional investor owned 2,395 shares of the company’s stock after acquiring an additional 103 shares during the period. Xponance Inc.’s holdings in Shake Shack were worth $216,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Brighton Jones LLC lifted its position in shares of Shake Shack by 1.1% during the 2nd quarter. Brighton Jones LLC now owns 17,909 shares of the company’s stock valued at $1,612,000 after acquiring an additional 187 shares during the period. Arizona State Retirement System boosted its position in Shake Shack by 1.9% during the second quarter. Arizona State Retirement System now owns 10,500 shares of the company’s stock worth $945,000 after purchasing an additional 196 shares in the last quarter. CWM LLC grew its holdings in Shake Shack by 24.7% in the second quarter. CWM LLC now owns 1,046 shares of the company’s stock valued at $94,000 after purchasing an additional 207 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its position in shares of Shake Shack by 5.8% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 3,855 shares of the company’s stock valued at $347,000 after buying an additional 212 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC acquired a new position in shares of Shake Shack during the 1st quarter worth $25,000. 86.07% of the stock is currently owned by institutional investors and hedge funds.

Shake Shack Stock Up 3.1 %

Shares of NYSE SHAK opened at $104.90 on Thursday. The company has a quick ratio of 2.03, a current ratio of 2.06 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $4.46 billion, a PE ratio of 190.73, a P/E/G ratio of 3.14 and a beta of 1.83. The firm has a fifty day moving average of $100.06 and a 200-day moving average of $97.49. Shake Shack Inc. has a 52-week low of $52.79 and a 52-week high of $111.29.

Shake Shack (NYSE:SHAK) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.27 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.27. The firm had revenue of $316.50 million during the quarter, compared to the consensus estimate of $314.37 million. Shake Shack had a return on equity of 5.63% and a net margin of 2.23%. The firm’s quarterly revenue was up 16.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.18 earnings per share. On average, analysts anticipate that Shake Shack Inc. will post 0.73 EPS for the current year.

Analyst Upgrades and Downgrades

SHAK has been the topic of a number of research reports. Truist Financial reissued a “buy” rating and issued a $127.00 price objective on shares of Shake Shack in a research note on Wednesday, August 28th. Capital One Financial started coverage on shares of Shake Shack in a research report on Monday, July 29th. They issued an “overweight” rating and a $95.00 price target on the stock. Bank of America lifted their price objective on Shake Shack from $104.00 to $116.00 and gave the stock a “neutral” rating in a research report on Monday, August 19th. Morgan Stanley lowered their target price on Shake Shack from $108.00 to $100.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 16th. Finally, Piper Sandler downgraded Shake Shack from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $121.00 to $114.00 in a research report on Monday, August 19th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $107.39.

Insider Buying and Selling

In other Shake Shack news, CFO Katherine Irene Fogertey sold 321 shares of Shake Shack stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $98.57, for a total transaction of $31,640.97. Following the transaction, the chief financial officer now directly owns 36,822 shares of the company’s stock, valued at $3,629,544.54. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, CFO Katherine Irene Fogertey sold 321 shares of the company’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $98.57, for a total value of $31,640.97. Following the completion of the sale, the chief financial officer now owns 36,822 shares of the company’s stock, valued at $3,629,544.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Daniel Harris Meyer sold 10,000 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $110.24, for a total value of $1,102,400.00. Following the sale, the director now owns 470,437 shares in the company, valued at $51,860,974.88. The disclosure for this sale can be found here. In the last quarter, insiders sold 12,313 shares of company stock valued at $1,322,180. 9.73% of the stock is currently owned by corporate insiders.

Shake Shack Company Profile

Shake Shack Inc owns, operates, and licenses Shake Shack restaurants (Shacks) in the United States and internationally. Its Shacks offers hamburgers, chicken, hot dogs, crinkle cut fries, shakes, frozen custard, beer, wine, and other products. The company was founded in 2001 and is headquartered in New York, New York.