National Bank of Canada FI Has $298,000 Holdings in Shake Shack Inc. (NYSE:SHAK)

National Bank of Canada FI trimmed its position in shares of Shake Shack Inc. (NYSE:SHAK) by 6.8% in the 3rd 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 quarter. National Bank of Canada FI’s holdings in Shake Shack were worth $298,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in SHAK. Hsbc Holdings PLC increased its position in Shake Shack by 303.3% in the 2nd quarter. Hsbc Holdings PLC now owns 16,604 shares of the company’s stock worth $1,460,000 after buying an additional 12,487 shares during the period. Fisher Asset Management LLC lifted its stake in shares of Shake Shack by 4.8% in the third quarter. Fisher Asset Management LLC now owns 354,114 shares of the company’s stock valued at $36,548,000 after buying an additional 16,097 shares during the period. GDS Wealth Management bought a new position in Shake Shack during the third quarter valued at about $417,000. Jennison Associates LLC raised its holdings in Shake Shack by 10.8% in the 3rd quarter. Jennison Associates LLC now owns 294,111 shares of the company’s stock valued at $30,355,000 after acquiring an additional 28,661 shares in the last quarter. Finally, FMR LLC grew its holdings in shares of Shake Shack by 3.6% during the 3rd quarter. FMR LLC now owns 243,549 shares of the company’s stock worth $25,137,000 after purchasing an additional 8,512 shares in the last quarter. Institutional investors own 86.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on SHAK shares. Bank of America increased their price target on shares of Shake Shack from $104.00 to $116.00 and gave the stock a “neutral” rating in a research report on Monday, August 19th. TD Cowen reiterated a “buy” rating and issued a $125.00 price target on shares of Shake Shack in a research report on Wednesday, September 18th. Piper Sandler cut Shake Shack from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $121.00 to $114.00 in a report on Monday, August 19th. Oppenheimer boosted their target price on shares of Shake Shack from $122.00 to $135.00 and gave the company an “outperform” rating in a research note on Monday, October 28th. Finally, Truist Financial lifted 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. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $112.94.

Insider Transactions at Shake Shack

In other news, Director Daniel Harris Meyer sold 30,000 shares of the business’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $121.79, for a total value of $3,653,700.00. Following the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Katherine Irene Fogertey sold 321 shares of the stock in a transaction dated 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 owns 36,180 shares of the company’s stock, valued at approximately $3,760,187.40. The trade was a 0.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 63,754 shares of company stock valued at $7,711,497 over the last 90 days. 9.73% of the stock is owned by company insiders.

Shake Shack Stock Down 2.4 %

Shake Shack stock opened at $131.59 on Monday. Shake Shack Inc. has a fifty-two week low of $64.16 and a fifty-two week high of $139.89. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.01 and a quick ratio of 1.98. The firm 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’s 50 day simple moving average is $122.41 and its 200 day simple moving average is $104.95.

Shake Shack (NYSE:SHAK) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.05. The company had revenue of $316.92 million during the quarter, compared to analyst estimates of $316.03 million. Shake Shack had a net margin of 0.68% and a return on equity of 6.28%. The firm’s revenue was up 14.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.17 EPS. As a group, sell-side analysts anticipate 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.