Nisa Investment Advisors LLC Boosts Position in Shake Shack Inc. (NYSE:SHAK)

Nisa Investment Advisors LLC increased its holdings in Shake Shack Inc. (NYSE:SHAK) by 35.8% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,110 shares of the company’s stock after acquiring an additional 820 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Shake Shack were worth $321,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in SHAK. Allspring Global Investments Holdings LLC bought a new position in Shake Shack in the 1st quarter worth $25,000. Quest Partners LLC bought a new position in Shake Shack in the second quarter worth about $38,000. Mowery & Schoenfeld Wealth Management LLC purchased a new stake in Shake Shack in the third quarter worth about $41,000. Kimelman & Baird LLC bought a new stake in Shake Shack during the 2nd quarter valued at approximately $45,000. Finally, Covestor Ltd grew its holdings in shares of Shake Shack by 32,150.0% during the 1st quarter. Covestor Ltd now owns 645 shares of the company’s stock worth $67,000 after acquiring an additional 643 shares during the period. Institutional investors own 86.07% of the company’s stock.

Insiders Place Their Bets

In other news, Director Daniel Harris Meyer sold 30,000 shares of Shake Shack stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $121.79, for a total transaction of $3,653,700.00. Following the sale, the director now owns 407,646 shares in the company, valued at $49,647,206.34. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Shake Shack news, Director Daniel Harris Meyer sold 30,000 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $121.79, for a total transaction of $3,653,700.00. Following the completion of the transaction, the director now owns 407,646 shares of the company’s stock, valued at $49,647,206.34. This represents a 0.00 % decrease in their position. 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, 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 $3,760,187.40. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 73,433 shares of company stock worth $8,757,256 in the last three months. 9.73% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on SHAK shares. Bank of America lifted their price target on Shake Shack from $104.00 to $116.00 and gave the company a “neutral” rating in a research report on Monday, August 19th. Wedbush reaffirmed a “neutral” rating and issued a $90.00 target price on shares of Shake Shack in a research report on Thursday, August 1st. Barclays lifted their price target on shares of Shake Shack from $115.00 to $125.00 and gave the company an “equal weight” rating in a research report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $115.00 price objective on shares of Shake Shack in a report on Wednesday, August 28th. Finally, Truist Financial raised their target price on shares of Shake Shack from $127.00 to $144.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $110.00.

Shake Shack Stock Performance

Shares of SHAK stock opened at $126.89 on Wednesday. Shake Shack Inc. has a 52 week low of $54.06 and a 52 week high of $130.20. The company has a 50 day moving average price of $106.49 and a 200-day moving average price of $99.08. The company has a quick ratio of 1.98, a current ratio of 2.01 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $5.39 billion, a PE ratio of 744.47, a P/E/G ratio of 3.35 and a beta of 1.81.

Shake Shack (NYSE:SHAK) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $316.03 million. During the same period in the prior year, the company posted $0.17 earnings per share. The company’s revenue for the quarter was up 14.7% compared to the same quarter last year. As a group, equities research analysts expect that Shake Shack Inc. will post 0.8 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.