Covestor Ltd Acquires 205 Shares of Shake Shack Inc. (NYSE:SHAK)

Covestor Ltd raised its stake in shares of Shake Shack Inc. (NYSE:SHAK) by 41.6% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 698 shares of the company’s stock after acquiring an additional 205 shares during the period. Covestor Ltd’s holdings in Shake Shack were worth $72,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC bought a new position in Shake Shack during the first quarter valued at approximately $25,000. Janney Montgomery Scott LLC purchased a new position in shares of Shake Shack in the 1st quarter worth $853,000. Quantbot Technologies LP bought a new stake in shares of Shake Shack in the first quarter worth $344,000. SG Americas Securities LLC increased its position in Shake Shack by 43.6% during the first quarter. SG Americas Securities LLC now owns 3,389 shares of the company’s stock valued at $353,000 after acquiring an additional 1,029 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its holdings in Shake Shack by 61,625.0% in the first quarter. Russell Investments Group Ltd. now owns 2,469 shares of the company’s stock valued at $257,000 after acquiring an additional 2,465 shares during the period. Hedge funds and other institutional investors own 86.07% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on SHAK. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $115.00 price target on shares of Shake Shack in a research note on Wednesday, August 28th. Piper Sandler cut shares of Shake Shack from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $121.00 to $114.00 in a report on Monday, August 19th. Oppenheimer lifted their price target on shares of Shake Shack from $122.00 to $135.00 and gave the stock an “outperform” rating in a research note on Monday, October 28th. The Goldman Sachs Group upped their price objective on Shake Shack from $110.00 to $125.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Finally, Wedbush reiterated a “neutral” rating and set a $90.00 target price on shares of Shake Shack in a research report on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $110.00.

Insiders Place Their Bets

In other news, Director Daniel Harris Meyer sold 30,000 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was 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 directly owns 407,646 shares in the company, valued at approximately $49,647,206.34. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related 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 value 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 approximately $49,647,206.34. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 sale, the chief financial officer now directly owns 36,180 shares in the company, valued at $3,760,187.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 63,433 shares of company stock valued at $7,654,856 in the last quarter. 9.73% of the stock is currently owned by insiders.

Shake Shack Price Performance

Shares of NYSE:SHAK opened at $127.64 on Thursday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.98 and a current ratio of 2.01. The firm has a market cap of $5.42 billion, a price-to-earnings ratio of 750.79, a P/E/G ratio of 2.99 and a beta of 1.81. The firm has a fifty day moving average price of $110.54 and a 200 day moving average price of $100.60. Shake Shack Inc. has a fifty-two week low of $57.09 and a fifty-two week high of $134.90.

Shake Shack (NYSE:SHAK) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.25 EPS 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 business had revenue of $316.92 million during the quarter, compared to the consensus estimate of $316.03 million. During the same quarter in the prior year, the firm earned $0.17 EPS. The business’s revenue was up 14.7% on a year-over-year basis. As a group, sell-side analysts expect that Shake Shack Inc. will post 0.81 earnings per share for the current fiscal year.

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.