Everence Capital Management Inc. Decreases Stake in Shake Shack Inc. (NYSE:SHAK)

Everence Capital Management Inc. decreased its holdings in Shake Shack Inc. (NYSE:SHAK) by 39.7% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 3,960 shares of the company’s stock after selling 2,610 shares during the quarter. Everence Capital Management Inc.’s holdings in Shake Shack were worth $514,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of SHAK. State Street Corp lifted its holdings in shares of Shake Shack by 3.5% during the 3rd quarter. State Street Corp now owns 1,452,736 shares of the company’s stock valued at $149,937,000 after acquiring an additional 49,324 shares in the last quarter. Holocene Advisors LP boosted its position in shares of Shake Shack by 68.3% in the third quarter. Holocene Advisors LP now owns 946,350 shares of the company’s stock worth $97,673,000 after buying an additional 384,131 shares during the period. Geode Capital Management LLC grew its stake in shares of Shake Shack by 3.1% in the third quarter. Geode Capital Management LLC now owns 876,380 shares of the company’s stock valued at $90,470,000 after buying an additional 26,620 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Shake Shack by 9.0% in the second quarter. Dimensional Fund Advisors LP now owns 801,003 shares of the company’s stock valued at $72,088,000 after buying an additional 66,090 shares in the last quarter. Finally, Point72 Asset Management L.P. raised its holdings in shares of Shake Shack by 154.8% during the 3rd quarter. Point72 Asset Management L.P. now owns 650,685 shares of the company’s stock valued at $67,157,000 after buying an additional 395,311 shares during the period. 86.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CFO Katherine Irene Fogertey sold 642 shares of the business’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $137.51, for a total transaction of $88,281.42. Following the completion of the transaction, the chief financial officer now owns 30,717 shares of the company’s stock, valued at approximately $4,223,894.67. The trade was a 2.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Daniel Harris Meyer sold 22,691 shares of the stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $124.47, for a total transaction of $2,824,348.77. Following the completion of the sale, 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 position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 53,333 shares of company stock valued at $6,566,330. 9.73% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages have issued reports on SHAK. JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a $102.00 price objective (down previously from $105.00) on shares of Shake Shack in a research report on Tuesday, September 24th. Barclays raised their price target on shares of Shake Shack from $115.00 to $125.00 and gave the company an “equal weight” rating in a report on Thursday, October 31st. Oppenheimer boosted their price objective on shares of Shake Shack from $122.00 to $135.00 and gave the stock an “outperform” rating in a report on Monday, October 28th. TD Cowen restated a “buy” rating and set a $125.00 target price on shares of Shake Shack in a research note on Wednesday, September 18th. Finally, Truist Financial boosted their price target on Shake Shack from $144.00 to $147.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $115.56.

Shake Shack Stock Performance

Shake Shack stock opened at $133.38 on Monday. 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 12 month low of $64.16 and a 12 month high of $139.89. The company has a fifty day moving average price of $128.88 and a two-hundred day moving average price of $108.97. The company has a market cap of $5.67 billion, a PE ratio of 784.59, a P/E/G ratio of 2.83 and a beta of 1.86.

Shake Shack (NYSE:SHAK) last posted 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 business had revenue of $316.92 million during the quarter, compared to analyst estimates of $316.03 million. Shake Shack had a net margin of 0.68% and a return on equity of 6.28%. The company’s quarterly revenue was up 14.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.17 EPS. Research analysts expect that Shake Shack Inc. will post 0.82 earnings per share 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.