Swiss National Bank Sells 400 Shares of Shake Shack Inc. (NYSE:SHAK)

Swiss National Bank trimmed its holdings in Shake Shack Inc. (NYSE:SHAK) by 0.5% in the 3rd quarter, HoldingsChannel reports. The firm owned 73,500 shares of the company’s stock after selling 400 shares during the quarter. Swiss National Bank’s holdings in Shake Shack were worth $7,586,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in SHAK. Quest Partners LLC bought a new position in shares of Shake Shack during the 2nd quarter valued at approximately $38,000. Mowery & Schoenfeld Wealth Management LLC bought a new position in shares of Shake Shack during the 3rd quarter valued at approximately $41,000. Kimelman & Baird LLC bought a new position in shares of Shake Shack during the 2nd quarter valued at approximately $45,000. Covestor Ltd boosted its position in shares of Shake Shack by 41.6% during the 3rd quarter. Covestor Ltd now owns 698 shares of the company’s stock valued at $72,000 after acquiring an additional 205 shares during the last quarter. Finally, CWM LLC boosted its position in shares of Shake Shack by 24.7% during the 2nd quarter. CWM LLC now owns 1,046 shares of the company’s stock valued at $94,000 after acquiring an additional 207 shares during the last quarter. 86.07% of the stock is currently owned by institutional investors.

Insider Activity

In other Shake Shack news, Director Daniel Harris Meyer sold 10,000 shares of Shake Shack stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $110.08, for a total value of $1,100,800.00. Following the transaction, the director now owns 460,337 shares in the company, valued at $50,673,896.96. The trade was a 2.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Katherine Irene Fogertey sold 321 shares of Shake Shack stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $98.57, for a total value of $31,640.97. Following the completion of the transaction, the chief financial officer now owns 36,822 shares in the company, valued at $3,629,544.54. This trade represents a 0.86 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 63,433 shares of company stock worth $7,654,856. Company insiders own 9.73% of the company’s stock.

Shake Shack Stock Performance

SHAK stock opened at $129.42 on Tuesday. The firm has a market cap of $5.50 billion, a price-to-earnings ratio of 761.29, a PEG ratio of 2.79 and a beta of 1.81. The company has a quick ratio of 1.98, a current ratio of 2.01 and a debt-to-equity ratio of 0.51. Shake Shack Inc. has a twelve month low of $59.92 and a twelve month high of $134.90. The business’s fifty day simple moving average is $113.75 and its two-hundred day simple moving average is $101.34.

Shake Shack (NYSE:SHAK) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.25 EPS for the quarter, beating the consensus estimate of $0.20 by $0.05. The firm had revenue of $316.92 million for the quarter, compared to analyst estimates of $316.03 million. Shake Shack had a return on equity of 6.28% and a net margin of 0.68%. The business’s revenue for the quarter was up 14.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.17 earnings per share. Analysts predict that Shake Shack Inc. will post 0.82 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on SHAK shares. Oppenheimer increased their target price on Shake Shack from $122.00 to $135.00 and gave the company an “outperform” rating in a research report on Monday, October 28th. Capital One Financial started coverage on Shake Shack in a research report on Monday, July 29th. They set an “overweight” rating and a $95.00 target price for the company. The Goldman Sachs Group raised their price target on Shake Shack from $110.00 to $125.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Truist Financial raised their price target on Shake Shack from $127.00 to $144.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Finally, Wedbush restated a “neutral” rating and issued a $90.00 price target on shares of Shake Shack in a research report on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $112.94.

About Shake Shack

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.