Thrivent Financial for Lutherans Grows Position in Shake Shack Inc. (NYSE:SHAK)

Thrivent Financial for Lutherans increased its stake in shares of Shake Shack Inc. (NYSE:SHAK) by 0.4% in the third quarter, Holdings Channel.com reports. The fund owned 31,398 shares of the company’s stock after purchasing an additional 139 shares during the period. Thrivent Financial for Lutherans’ holdings in Shake Shack were worth $3,241,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Dimensional Fund Advisors LP boosted its holdings in shares of Shake Shack by 9.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 801,003 shares of the company’s stock valued at $72,088,000 after purchasing an additional 66,090 shares during the last quarter. Armistice Capital LLC lifted its position in shares of Shake Shack by 69.1% in the second quarter. Armistice Capital LLC now owns 579,904 shares of the company’s stock worth $52,191,000 after buying an additional 236,950 shares in the last quarter. Marshall Wace LLP boosted its stake in Shake Shack by 101.2% during the second quarter. Marshall Wace LLP now owns 544,336 shares of the company’s stock valued at $48,990,000 after buying an additional 273,822 shares during the last quarter. Renaissance Technologies LLC grew its holdings in Shake Shack by 41.9% during the 2nd quarter. Renaissance Technologies LLC now owns 437,600 shares of the company’s stock valued at $39,384,000 after buying an additional 129,200 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in Shake Shack by 1.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 300,539 shares of the company’s stock worth $27,048,000 after acquiring an additional 4,201 shares during the last quarter. 86.07% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Shake Shack

In other news, Director Daniel Harris Meyer sold 22,691 shares of the stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $124.47, for a total transaction of $2,824,348.77. Following the transaction, the director now directly owns 437,646 shares in the company, valued at approximately $54,473,797.62. This trade represents a 4.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Katherine Irene Fogertey sold 321 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $98.57, for a total transaction of $31,640.97. Following the completion of the transaction, the chief financial officer now directly owns 36,822 shares of the company’s stock, 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. Insiders sold a total of 63,433 shares of company stock valued at $7,654,856 in the last ninety days. Corporate insiders own 9.73% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on SHAK shares. Barclays increased their target price on Shake Shack from $115.00 to $125.00 and gave the company an “equal weight” rating in a research report on Thursday, October 31st. Robert W. Baird lifted their price objective on shares of Shake Shack from $93.00 to $105.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Oppenheimer upped their target price on shares of Shake Shack from $122.00 to $135.00 and gave the company an “outperform” rating in a research report on Monday, October 28th. The Goldman Sachs Group lifted 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. Finally, Truist Financial upped their price objective on Shake Shack from $127.00 to $144.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Shake Shack presently has an average rating of “Hold” and an average target price of $112.94.

Shake Shack Trading Up 5.2 %

Shares of SHAK opened at $129.42 on Tuesday. The firm has a market capitalization 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 debt-to-equity ratio of 0.51, a current ratio of 2.01 and a quick ratio of 1.98. Shake Shack Inc. has a 1-year low of $59.92 and a 1-year high of $134.90. The company has a 50-day moving average of $113.75 and a 200 day moving average of $101.34.

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

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.