Shake Shack Inc. (NYSE:SHAK) Shares Bought by Glenmede Trust Co. NA

Glenmede Trust Co. NA raised its position in Shake Shack Inc. (NYSE:SHAK) by 1.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,293 shares of the company’s stock after purchasing an additional 199 shares during the quarter. Glenmede Trust Co. NA’s holdings in Shake Shack were worth $1,372,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Quest Partners LLC purchased a new position in Shake Shack in the second quarter valued at approximately $38,000. Mowery & Schoenfeld Wealth Management LLC purchased a new position in shares of Shake Shack in the 3rd quarter valued at $41,000. Kimelman & Baird LLC acquired a new position in shares of Shake Shack during the 2nd quarter valued at $45,000. Covestor Ltd boosted its position in Shake Shack by 41.6% during the 3rd quarter. Covestor Ltd now owns 698 shares of the company’s stock worth $72,000 after purchasing an additional 205 shares during the period. Finally, CWM LLC increased its holdings in Shake Shack by 24.7% in the 2nd quarter. CWM LLC now owns 1,046 shares of the company’s stock valued at $94,000 after purchasing an additional 207 shares in the last quarter. 86.07% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CFO Katherine Irene Fogertey sold 321 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $103.93, for a total transaction of $33,361.53. Following the completion of the transaction, the chief financial officer now owns 36,180 shares in the company, valued at approximately $3,760,187.40. This represents a 0.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Daniel Harris Meyer sold 30,000 shares of Shake Shack stock in a transaction dated 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 completion of the sale, the director now owns 407,646 shares in the company, valued at approximately $49,647,206.34. This represents a 6.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 63,433 shares of company stock worth $7,654,856 over the last quarter. 9.73% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have commented on SHAK shares. JPMorgan Chase & Co. restated an “underweight” rating and set a $102.00 price objective (down previously from $105.00) on shares of Shake Shack in a research note on Tuesday, September 24th. Piper Sandler cut Shake Shack from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $121.00 to $114.00 in a report on Monday, August 19th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $115.00 price objective on shares of Shake Shack in a research note on Wednesday, August 28th. Truist Financial raised their price target 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. Finally, Oppenheimer boosted their price objective on shares of Shake Shack from $122.00 to $135.00 and gave the stock an “outperform” rating in a report on Monday, October 28th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $112.94.

Shake Shack Price Performance

Shares of NYSE SHAK opened at $133.73 on Monday. The company has a current ratio of 2.01, a quick ratio of 1.98 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $5.68 billion, a price-to-earnings ratio of 786.65, a price-to-earnings-growth ratio of 3.04 and a beta of 1.81. Shake Shack Inc. has a twelve month low of $59.94 and a twelve month high of $134.90. The business has a 50 day simple moving average of $116.51 and a 200-day simple moving average of $102.36.

Shake Shack (NYSE:SHAK) last released its earnings results on Wednesday, October 30th. The company reported $0.25 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $316.03 million. During the same quarter in the previous year, the firm earned $0.17 earnings per share. The firm’s revenue for the quarter was up 14.7% compared to the same quarter last year. As a group, equities research analysts expect that Shake Shack Inc. will post 0.82 earnings per share 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.