National Bank of Canada FI Sells 210 Shares of Shake Shack Inc. (NYSE:SHAK)

National Bank of Canada FI trimmed its holdings in shares of Shake Shack Inc. (NYSE:SHAK) by 6.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,890 shares of the company’s stock after selling 210 shares during the period. National Bank of Canada FI’s holdings in Shake Shack were worth $298,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. State Street Corp boosted its position in Shake Shack by 3.5% during the third quarter. State Street Corp now owns 1,452,736 shares of the company’s stock valued at $149,937,000 after purchasing an additional 49,324 shares during the last quarter. Holocene Advisors LP increased its position in shares of Shake Shack by 68.3% during the 3rd quarter. Holocene Advisors LP now owns 946,350 shares of the company’s stock worth $97,673,000 after purchasing an additional 384,131 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Shake Shack by 9.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 801,003 shares of the company’s stock worth $72,088,000 after purchasing an additional 66,090 shares in the last quarter. Point72 Asset Management L.P. boosted its holdings in shares of Shake Shack by 154.8% in the 3rd quarter. Point72 Asset Management L.P. now owns 650,685 shares of the company’s stock valued at $67,157,000 after buying an additional 395,311 shares during the last quarter. Finally, Champlain Investment Partners LLC boosted its holdings in shares of Shake Shack by 4.7% in the 3rd quarter. Champlain Investment Partners LLC now owns 614,747 shares of the company’s stock valued at $63,448,000 after buying an additional 27,707 shares during the last quarter. Institutional investors own 86.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on SHAK shares. Bank of America boosted their target price 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. TD Cowen reissued a “buy” rating and issued a $125.00 price objective on shares of Shake Shack in a research report on Wednesday, September 18th. Truist Financial upped their target price on shares of Shake Shack from $127.00 to $144.00 and gave the company a “buy” rating in a report on Friday, November 1st. Oppenheimer lifted their price target on Shake Shack from $122.00 to $135.00 and gave the stock an “outperform” rating in a report on Monday, October 28th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $115.00 price target on shares of Shake Shack in a research report on Wednesday, August 28th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Shake Shack currently has an average rating of “Hold” and a consensus target price of $112.94.

Insider Activity

In related news, 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 completion of the sale, the chief financial officer now directly owns 36,180 shares in the company, valued at approximately $3,760,187.40. The trade was a 0.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Daniel Harris Meyer sold 22,691 shares of the firm’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $124.47, for a total value of $2,824,348.77. Following the transaction, the director now owns 437,646 shares in the company, valued at approximately $54,473,797.62. This trade represents a 4.93 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 63,754 shares of company stock valued at $7,711,497. 9.73% of the stock is owned by company insiders.

Shake Shack Price Performance

Shake Shack stock opened at $131.59 on Monday. The company has a market capitalization of $5.59 billion, a price-to-earnings ratio of 774.06, a PEG ratio of 2.83 and a beta of 1.85. The company has a current ratio of 2.01, a quick ratio of 1.98 and a debt-to-equity ratio of 0.51. Shake Shack Inc. has a 12 month low of $64.16 and a 12 month high of $139.89. The stock’s 50 day moving average is $122.41 and its 200-day moving average is $104.95.

Shake Shack (NYSE:SHAK) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.25 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.05. The firm had revenue of $316.92 million for the quarter, compared to analyst estimates of $316.03 million. Shake Shack had a return on equity of 6.28% and a net margin of 0.68%. The company’s revenue for the quarter was up 14.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.17 EPS. Equities research analysts expect that Shake Shack Inc. will post 0.82 EPS for the current year.

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.