Shake Shack Inc. (NYSE:SHAK) Shares Sold by US Bancorp DE

US Bancorp DE decreased its position in Shake Shack Inc. (NYSE:SHAK) by 6.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,167 shares of the company’s stock after selling 149 shares during the period. US Bancorp DE’s holdings in Shake Shack were worth $224,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SHAK. Dimensional Fund Advisors LP raised its stake in shares of Shake Shack by 9.0% in the second 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 during the last quarter. Armistice Capital LLC increased its holdings in Shake Shack by 69.1% in the 2nd quarter. Armistice Capital LLC now owns 579,904 shares of the company’s stock worth $52,191,000 after buying an additional 236,950 shares during the period. Marshall Wace LLP raised its position in Shake Shack by 101.2% during the 2nd quarter. Marshall Wace LLP now owns 544,336 shares of the company’s stock worth $48,990,000 after buying an additional 273,822 shares during the last quarter. Renaissance Technologies LLC raised its position in Shake Shack by 41.9% during the 2nd quarter. Renaissance Technologies LLC now owns 437,600 shares of the company’s stock worth $39,384,000 after buying an additional 129,200 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in Shake Shack by 1.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 300,539 shares of the company’s stock valued at $27,048,000 after acquiring an additional 4,201 shares during the period. Institutional investors and hedge funds own 86.07% of the company’s stock.

Shake Shack Price Performance

Shares of NYSE SHAK opened at $124.05 on Friday. The firm has a fifty day moving average of $111.10 and a 200 day moving average of $100.76. Shake Shack Inc. has a one year low of $59.51 and a one year high of $134.90. The firm has a market cap of $5.27 billion, a PE ratio of 729.71, a PEG ratio of 2.99 and a beta of 1.81. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.98 and a current ratio of 2.01.

Shake Shack (NYSE:SHAK) last issued its quarterly earnings results 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. 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 business’s revenue was up 14.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.17 earnings per share. As a group, research analysts predict that Shake Shack Inc. will post 0.81 EPS for the current fiscal year.

Insider Activity

In other Shake Shack news, Director Daniel Harris Meyer sold 30,000 shares of the business’s stock in a transaction 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 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Katherine Irene Fogertey sold 321 shares of the firm’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $98.57, for a total value of $31,640.97. Following the completion of the sale, the chief financial officer now directly owns 36,822 shares of the company’s stock, valued at $3,629,544.54. This trade represents a 0.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 63,433 shares of company stock worth $7,654,856 over the last three months. Insiders own 9.73% of the company’s stock.

Wall Street Analysts Forecast Growth

SHAK has been the subject of several recent research reports. Wedbush reissued a “neutral” rating and set a $90.00 target price on shares of Shake Shack in a report on Thursday, August 1st. The Goldman Sachs Group lifted their price objective on Shake Shack from $110.00 to $125.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Barclays upped their target price on Shake Shack from $115.00 to $125.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 31st. Robert W. Baird lifted their price target on Shake Shack from $93.00 to $105.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Finally, Piper Sandler downgraded Shake Shack from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $121.00 to $114.00 in a report on Monday, August 19th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $112.94.

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.