BNP Paribas Financial Markets Increases Stake in Shake Shack Inc. (NYSE:SHAK)

BNP Paribas Financial Markets boosted its stake in Shake Shack Inc. (NYSE:SHAK) by 30.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 36,588 shares of the company’s stock after purchasing an additional 8,606 shares during the period. BNP Paribas Financial Markets’ holdings in Shake Shack were worth $3,776,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of SHAK. Mowery & Schoenfeld Wealth Management LLC purchased a new position in shares of Shake Shack during the third quarter valued at approximately $41,000. Quest Partners LLC purchased a new position in shares of Shake Shack during the second quarter valued at approximately $38,000. Kimelman & Baird LLC purchased a new position in shares of Shake Shack during the second quarter valued at approximately $45,000. Covestor Ltd increased its stake in shares of Shake Shack by 41.6% during the third quarter. Covestor Ltd now owns 698 shares of the company’s stock valued at $72,000 after buying an additional 205 shares during the period. Finally, CWM LLC increased its stake in shares of Shake Shack by 24.7% during the second quarter. CWM LLC now owns 1,046 shares of the company’s stock valued at $94,000 after buying an additional 207 shares during the period. 86.07% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CFO Katherine Irene Fogertey sold 321 shares of the company’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $103.93, for a total transaction of $33,361.53. Following the transaction, the chief financial officer now directly owns 36,180 shares of the company’s stock, valued at $3,760,187.40. This represents a 0.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Daniel Harris Meyer sold 22,691 shares of the company’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $124.47, for a total value of $2,824,348.77. Following the transaction, the director now directly owns 437,646 shares in the company, valued at approximately $54,473,797.62. The trade was a 4.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 63,112 shares of company stock valued at $7,623,215 over the last ninety days. 9.73% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Truist Financial boosted their target price on Shake Shack from $127.00 to $144.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Piper Sandler cut Shake Shack from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $121.00 to $114.00 in a research note on Monday, August 19th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $115.00 target price on shares of Shake Shack in a research note on Wednesday, August 28th. Barclays lifted their price target on Shake Shack from $115.00 to $125.00 and gave the company an “equal weight” rating in a research report on Thursday, October 31st. Finally, 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 research report on Tuesday, September 24th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $112.94.

Shake Shack Trading Up 0.7 %

Shake Shack stock opened at $133.27 on Thursday. 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 business’s fifty day simple moving average is $118.16 and its two-hundred day simple moving average is $103.03. Shake Shack Inc. has a 12 month low of $60.84 and a 12 month high of $135.76. The company has a market capitalization of $5.66 billion, a price-to-earnings ratio of 783.94, a price-to-earnings-growth ratio of 3.03 and a beta of 1.85.

Shake Shack (NYSE:SHAK) last released its earnings results on Wednesday, October 30th. The company reported $0.25 EPS for the quarter, topping the consensus estimate of $0.20 by $0.05. The business had revenue of $316.92 million for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the previous year, the company posted $0.17 earnings per share. As a group, equities analysts predict that Shake Shack Inc. will post 0.82 earnings per share for the current fiscal 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.