Shake Shack Inc. (NYSE:SHAK) Shares Acquired by Pathstone Holdings LLC

Pathstone Holdings LLC lifted its stake in shares of Shake Shack Inc. (NYSE:SHAK) by 8.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 14,840 shares of the company’s stock after buying an additional 1,146 shares during the period. Pathstone Holdings LLC’s holdings in Shake Shack were worth $1,532,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Xponance Inc. boosted its position in Shake Shack by 4.5% in the second quarter. Xponance Inc. now owns 2,395 shares of the company’s stock valued at $216,000 after buying an additional 103 shares during the last quarter. Thrivent Financial for Lutherans boosted its holdings in shares of Shake Shack by 0.4% in the 3rd quarter. Thrivent Financial for Lutherans now owns 31,398 shares of the company’s stock valued at $3,241,000 after acquiring an additional 139 shares during the last quarter. Brighton Jones LLC increased its stake in shares of Shake Shack by 1.1% in the second quarter. Brighton Jones LLC now owns 17,909 shares of the company’s stock worth $1,612,000 after acquiring an additional 187 shares during the period. Arizona State Retirement System lifted its position in Shake Shack by 1.9% during the second quarter. Arizona State Retirement System now owns 10,500 shares of the company’s stock valued at $945,000 after purchasing an additional 196 shares during the period. Finally, Covestor Ltd boosted its holdings in Shake Shack by 41.6% in the third quarter. Covestor Ltd now owns 698 shares of the company’s stock valued at $72,000 after purchasing an additional 205 shares during the last quarter. 86.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Barclays boosted their price objective on Shake Shack from $115.00 to $125.00 and gave the company an “equal weight” rating in a report on Thursday, October 31st. Piper Sandler lowered 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. Bank of America lifted their target price on shares of Shake Shack from $104.00 to $116.00 and gave the company a “neutral” rating in a report on Monday, August 19th. Robert W. Baird boosted their target price on shares of Shake Shack from $93.00 to $105.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Finally, Wedbush restated a “neutral” rating and set a $90.00 price target on shares of Shake Shack in a research report on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Shake Shack currently has a consensus rating of “Hold” and a consensus price target of $112.94.

Shake Shack Trading Down 0.2 %

Shares of SHAK stock opened at $132.35 on Friday. Shake Shack Inc. has a fifty-two week low of $59.92 and a fifty-two week high of $134.90. 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 stock’s fifty day moving average is $115.48 and its two-hundred day moving average is $101.93. The firm has a market capitalization of $5.62 billion, a P/E ratio of 779.09, a PEG ratio of 2.94 and a beta of 1.81.

Shake Shack (NYSE:SHAK) last posted 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. 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 for the quarter, compared to analyst estimates of $316.03 million. During the same period in the previous year, the business posted $0.17 earnings per share. Shake Shack’s quarterly revenue was up 14.7% on a year-over-year basis. Research analysts expect that Shake Shack Inc. will post 0.82 earnings per share for the current fiscal year.

Insider Activity at Shake Shack

In other Shake Shack news, CFO Katherine Irene Fogertey sold 321 shares of the firm’s stock in a transaction 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 of the company’s stock, valued at $3,760,187.40. This trade represents a 0.88 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Daniel Harris Meyer sold 10,000 shares of Shake Shack stock in a transaction on Friday, October 4th. The stock was sold at an average price of $110.08, for a total value of $1,100,800.00. Following the transaction, the director now owns 460,337 shares in the company, valued at approximately $50,673,896.96. This represents a 2.13 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 63,433 shares of company stock valued at $7,654,856. 9.73% of the stock is currently owned by insiders.

Shake Shack Company 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.