HighTower Advisors LLC Has $577,000 Holdings in Shake Shack Inc. (NYSE:SHAK)

HighTower Advisors LLC lowered its position in Shake Shack Inc. (NYSE:SHAK) by 13.3% during the third quarter, according to its most recent filing with the SEC. The firm owned 5,594 shares of the company’s stock after selling 855 shares during the period. HighTower Advisors LLC’s holdings in Shake Shack were worth $577,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of SHAK. Quest Partners LLC bought a new stake in shares of Shake Shack during the 2nd quarter valued at about $38,000. Mowery & Schoenfeld Wealth Management LLC acquired a new position in Shake Shack in the third quarter valued at approximately $41,000. Kimelman & Baird LLC bought a new position in shares of Shake Shack during the 2nd quarter worth approximately $45,000. Covestor Ltd grew its position in shares of Shake Shack by 41.6% during the 3rd quarter. Covestor Ltd now owns 698 shares of the company’s stock worth $72,000 after buying an additional 205 shares during the period. Finally, KBC Group NV increased its stake in shares of Shake Shack by 24.1% in the 3rd quarter. KBC Group NV now owns 1,206 shares of the company’s stock valued at $124,000 after acquiring an additional 234 shares in the last quarter. 86.07% of the stock is owned by institutional investors.

Insider Buying and Selling at Shake Shack

In other Shake Shack news, Director Daniel Harris Meyer sold 30,000 shares of the 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 completion of the transaction, the director now directly owns 407,646 shares of the company’s stock, valued at approximately $49,647,206.34. This represents a 6.85 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Katherine Irene Fogertey sold 321 shares of the business’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $103.93, for a total value of $33,361.53. Following the completion of the sale, the chief financial officer now owns 36,180 shares in the company, 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 sold 63,754 shares of company stock worth $7,711,497 in the last quarter. 9.73% of the stock is currently owned by company insiders.

Analyst Ratings Changes

SHAK has been the topic of several research analyst reports. 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 boosted their target price 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. Oppenheimer increased their price target on Shake Shack from $122.00 to $135.00 and gave the stock an “outperform” rating in a report on Monday, October 28th. TD Cowen restated a “buy” rating and set a $125.00 price objective on shares of Shake Shack in a report on Wednesday, September 18th. Finally, JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $102.00 target price (down from $105.00) on shares of Shake Shack in a report on Tuesday, September 24th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Shake Shack currently has a consensus rating of “Hold” and an average target price of $113.12.

Shake Shack Trading Up 3.0 %

Shares of SHAK stock opened at $129.63 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.98 and a current ratio of 2.01. The company has a market capitalization of $5.51 billion, a price-to-earnings ratio of 762.53, a PEG ratio of 2.83 and a beta of 1.85. Shake Shack Inc. has a 52-week low of $64.16 and a 52-week high of $139.89. The company has a 50-day simple moving average of $123.64 and a two-hundred day simple moving average of $105.59.

Shake Shack (NYSE:SHAK) last announced its earnings results on Wednesday, October 30th. The company reported $0.25 earnings per share 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 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 was up 14.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.17 EPS. Research analysts anticipate that Shake Shack Inc. will post 0.82 EPS for the current fiscal year.

Shake Shack 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.