KBC Group NV Buys 234 Shares of Shake Shack Inc. (NYSE:SHAK)

KBC Group NV boosted its stake in shares of Shake Shack Inc. (NYSE:SHAK) by 24.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,206 shares of the company’s stock after purchasing an additional 234 shares during the period. KBC Group NV’s holdings in Shake Shack were worth $124,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Victory Capital Management Inc. raised its stake in Shake Shack by 47.5% during the 3rd quarter. Victory Capital Management Inc. now owns 12,977 shares of the company’s stock valued at $1,339,000 after buying an additional 4,181 shares during the last quarter. Entropy Technologies LP purchased a new position in shares of Shake Shack in the 3rd quarter worth $345,000. GDS Wealth Management bought a new stake in shares of Shake Shack in the third quarter worth $417,000. River Global Investors LLP increased its position in Shake Shack by 3.9% during the third quarter. River Global Investors LLP now owns 13,798 shares of the company’s stock valued at $1,423,000 after acquiring an additional 512 shares during the last quarter. Finally, Covestor Ltd lifted 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 acquiring an additional 205 shares during the period. Hedge funds and other institutional investors own 86.07% of the company’s stock.

Insider Transactions at Shake Shack

In other news, Director Daniel Harris Meyer sold 30,000 shares of the business’s 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 transaction, the director now directly owns 407,646 shares in the company, valued at $49,647,206.34. The trade was a 6.85 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Katherine Irene Fogertey sold 321 shares of the business’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 transaction, the chief financial officer now directly owns 36,180 shares in the company, valued at $3,760,187.40. This trade represents a 0.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 63,433 shares of company stock valued at $7,654,856 over the last 90 days. Corporate insiders own 9.73% of the company’s stock.

Shake Shack Stock Performance

Shares of SHAK stock opened at $122.45 on Friday. Shake Shack Inc. has a 52-week low of $59.92 and a 52-week high of $134.90. 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 stock has a market cap of $5.20 billion, a PE ratio of 720.82, a price-to-earnings-growth ratio of 2.71 and a beta of 1.81. The business has a 50-day simple moving average of $112.92 and a 200-day simple moving average of $101.11.

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

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Oppenheimer upped their price target on shares of Shake Shack from $122.00 to $135.00 and gave the company an “outperform” rating in a research report on Monday, October 28th. Robert W. Baird increased their price target on shares of Shake Shack from $93.00 to $105.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Wedbush reissued a “neutral” rating and set a $90.00 price objective on shares of Shake Shack in a research report on Thursday, August 1st. Barclays raised their target price on Shake Shack from $115.00 to $125.00 and gave the stock an “equal weight” rating in a report on Thursday, October 31st. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $115.00 price target on shares of Shake Shack in a report on Wednesday, August 28th. Two investment 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. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average 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.