Shellback Capital LP Has $5.85 Million Stock Position in Shake Shack Inc. (NYSE:SHAK)

Shellback Capital LP boosted its holdings in Shake Shack Inc. (NYSE:SHAK) by 18.2% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 65,000 shares of the company’s stock after buying an additional 10,000 shares during the quarter. Shellback Capital LP’s holdings in Shake Shack were worth $5,850,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Madison Asset Management LLC boosted its stake in shares of Shake Shack by 52.6% during the fourth quarter. Madison Asset Management LLC now owns 84,062 shares of the company’s stock valued at $6,231,000 after purchasing an additional 28,975 shares in the last quarter. Virtu Financial LLC bought a new stake in Shake Shack during the 1st quarter worth approximately $653,000. Janney Montgomery Scott LLC acquired a new position in Shake Shack in the 1st quarter valued at approximately $853,000. Jennison Associates LLC bought a new position in shares of Shake Shack during the first quarter valued at $16,365,000. Finally, Los Angeles Capital Management LLC lifted its holdings in shares of Shake Shack by 190.4% during the first quarter. Los Angeles Capital Management LLC now owns 16,532 shares of the company’s stock worth $1,720,000 after purchasing an additional 10,840 shares during the period. Institutional investors own 86.07% of the company’s stock.

Shake Shack Stock Performance

Shares of SHAK opened at $106.13 on Friday. Shake Shack Inc. has a one year low of $52.79 and a one year high of $111.29. The company has a market cap of $4.49 billion, a PE ratio of 192.96, a P/E/G ratio of 3.20 and a beta of 1.83. The stock has a 50-day moving average of $98.86 and a 200-day moving average of $97.54. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.06 and a quick ratio of 2.03.

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

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on SHAK shares. Morgan Stanley lowered their target price on Shake Shack from $108.00 to $100.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 16th. Piper Sandler downgraded Shake Shack from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $121.00 to $114.00 in a research report on Monday, August 19th. TD Cowen reaffirmed a “buy” rating and issued a $125.00 price objective on shares of Shake Shack in a research note on Wednesday, September 18th. Robert W. Baird increased their target price on shares of Shake Shack from $93.00 to $105.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Finally, Bank of America boosted their price target on shares of Shake Shack from $104.00 to $116.00 and gave the stock a “neutral” rating in a research report on Monday, August 19th. Two research analysts have rated the stock with a sell rating, ten have issued 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, Shake Shack has a consensus rating of “Hold” and a consensus price target of $107.39.

Insider Activity at Shake Shack

In other Shake Shack news, CFO Katherine Irene Fogertey sold 321 shares of the company’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $95.10, for a total transaction of $30,527.10. Following the transaction, the chief financial officer now owns 37,143 shares in the company, valued at $3,532,299.30. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, CFO Katherine Irene Fogertey sold 321 shares of the company’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $95.10, for a total transaction of $30,527.10. Following the completion of the sale, the chief financial officer now owns 37,143 shares in the company, valued at $3,532,299.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Jeffrey Flug sold 304 shares of the firm’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $90.39, for a total value of $27,478.56. Following the transaction, the director now owns 3,347 shares in the company, valued at $302,535.33. The disclosure for this sale can be found here. In the last 90 days, insiders sold 12,213 shares of company stock valued at $1,311,175. 9.73% of the stock is owned by company insiders.

Shake Shack 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.