Bridgewater Associates LP Has $1.01 Million Stock Position in Shake Shack Inc. (NYSE:SHAK)

Bridgewater Associates LP trimmed its position in Shake Shack Inc. (NYSE:SHAK) by 12.3% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 9,805 shares of the company’s stock after selling 1,378 shares during the period. Bridgewater Associates LP’s holdings in Shake Shack were worth $1,012,000 at the end of the most recent quarter.

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

Analyst Ratings Changes

Several research firms recently commented on SHAK. JPMorgan Chase & Co. restated an “underweight” rating and set a $102.00 price target (down from $105.00) on shares of Shake Shack in a report on Tuesday, September 24th. Bank of America raised their price target on shares of Shake Shack from $104.00 to $116.00 and gave the stock a “neutral” rating in a report on Monday, August 19th. Truist Financial raised their price target on shares of Shake Shack from $127.00 to $144.00 and gave the stock a “buy” rating in a report on Friday, November 1st. TD Cowen restated a “buy” rating and set a $125.00 price target on shares of Shake Shack in a report on Wednesday, September 18th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $115.00 target price on shares of Shake Shack in a research note on Wednesday, August 28th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $112.94.

Shake Shack Trading Up 1.0 %

NYSE:SHAK opened at $133.73 on Monday. Shake Shack Inc. has a 12 month low of $59.94 and a 12 month high of $134.90. The firm has a market cap of $5.68 billion, a price-to-earnings ratio of 786.65, a P/E/G ratio of 3.04 and a beta of 1.81. 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 company’s 50 day moving average is $116.51 and its 200-day moving average is $102.36.

Shake Shack (NYSE:SHAK) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.25 EPS for the quarter, beating 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 company had revenue of $316.92 million for the quarter, compared to analyst estimates of $316.03 million. During the same quarter last year, the firm posted $0.17 earnings per share. The company’s quarterly revenue was up 14.7% compared to the same quarter last year. Equities analysts anticipate that Shake Shack Inc. will post 0.82 EPS for the current year.

Insider Buying and Selling

In related news, Director Daniel Harris Meyer sold 30,000 shares of the business’s stock in a transaction 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 transaction, the director now owns 407,646 shares of the company’s stock, valued at approximately $49,647,206.34. The trade was a 6.85 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Katherine Irene Fogertey sold 321 shares of the business’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $98.57, for a total transaction of $31,640.97. Following the completion of the sale, the chief financial officer now directly owns 36,822 shares in the company, valued at $3,629,544.54. This trade represents a 0.86 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 63,433 shares of company stock valued at $7,654,856. 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.