Victory Capital Management Inc. Boosts Stock Position in Shake Shack Inc. (NYSE:SHAK)

Victory Capital Management Inc. boosted its position in Shake Shack Inc. (NYSE:SHAK) by 47.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 12,977 shares of the company’s stock after purchasing an additional 4,181 shares during the quarter. Victory Capital Management Inc.’s holdings in Shake Shack were worth $1,339,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. lifted its stake in shares of Shake Shack by 61,625.0% during the 1st quarter. Russell Investments Group Ltd. now owns 2,469 shares of the company’s stock worth $257,000 after purchasing an additional 2,465 shares during the period. O Shaughnessy Asset Management LLC purchased a new position in Shake Shack during the first quarter worth about $311,000. Price T Rowe Associates Inc. MD lifted its position in Shake Shack by 7.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 20,883 shares of the company’s stock worth $2,173,000 after buying an additional 1,358 shares during the period. Silvercrest Asset Management Group LLC acquired a new stake in Shake Shack in the 1st quarter worth about $418,000. Finally, Virtu Financial LLC purchased a new stake in Shake Shack in the 1st quarter valued at about $653,000. 86.07% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CFO Katherine Irene Fogertey sold 321 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $103.93, for a total value of $33,361.53. Following the completion of the sale, the chief financial officer now directly owns 36,180 shares in the company, valued at approximately $3,760,187.40. The trade was a 0.88 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Daniel Harris Meyer sold 22,691 shares of the firm’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $124.47, for a total value of $2,824,348.77. Following the transaction, the director now owns 437,646 shares in the company, valued at $54,473,797.62. This trade represents a 4.93 % decrease in their ownership of the stock. 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.

Shake Shack Price Performance

SHAK stock opened at $132.66 on Wednesday. The stock’s 50 day moving average is $114.30 and its two-hundred day moving average is $101.51. Shake Shack Inc. has a 52-week low of $59.92 and a 52-week high of $134.90. The company has a market capitalization of $5.64 billion, a PE ratio of 780.35, a P/E/G 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 (NYSE:SHAK) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.05. The business had revenue of $316.92 million during the quarter, compared to the consensus estimate of $316.03 million. Shake Shack had a net margin of 0.68% and a return on equity of 6.28%. The business’s quarterly revenue was up 14.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.17 earnings per share. Analysts predict that Shake Shack Inc. will post 0.82 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on SHAK. JPMorgan Chase & Co. reiterated an “underweight” rating and set a $102.00 price objective (down from $105.00) on shares of Shake Shack in a report on Tuesday, September 24th. Bank of America increased their price target on shares of Shake Shack from $104.00 to $116.00 and gave the stock a “neutral” rating in a research note on Monday, August 19th. Truist Financial lifted their price target on shares of Shake Shack from $127.00 to $144.00 and gave the company a “buy” rating in a report on Friday, November 1st. Wedbush restated a “neutral” rating and set a $90.00 price objective on shares of Shake Shack in a report on Thursday, August 1st. Finally, TD Cowen reiterated a “buy” rating and issued a $125.00 target price on shares of Shake Shack in a report on Wednesday, September 18th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Shake Shack currently has an average rating of “Hold” and an average target price 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.