Eagle Asset Management Inc. Decreases Position in Shake Shack Inc. (NYSE:SHAK)

Eagle Asset Management Inc. lowered its position in Shake Shack Inc. (NYSE:SHAK) by 7.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 168,852 shares of the company’s stock after selling 12,873 shares during the quarter. Eagle Asset Management Inc. owned approximately 0.40% of Shake Shack worth $17,427,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Mowery & Schoenfeld Wealth Management LLC purchased a new stake in Shake Shack in the third quarter valued at approximately $41,000. Quest Partners LLC purchased a new stake in Shake Shack in the second quarter valued at approximately $38,000. Kimelman & Baird LLC purchased a new stake in Shake Shack in the second quarter valued at approximately $45,000. Covestor Ltd lifted its stake 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 buying an additional 205 shares during the last quarter. Finally, CWM LLC lifted its stake in Shake Shack by 24.7% in 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 last quarter. Hedge funds and other institutional investors own 86.07% of the company’s stock.

Shake Shack Stock Up 0.4 %

Shake Shack stock opened at $122.97 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 firm has a market capitalization of $5.22 billion, a price-to-earnings ratio of 723.35, a price-to-earnings-growth ratio of 2.78 and a beta of 1.81. Shake Shack Inc. has a fifty-two week low of $59.92 and a fifty-two week high of $134.90. The stock’s fifty day moving average is $113.33 and its two-hundred day moving average is $101.25.

Shake Shack (NYSE:SHAK) last posted 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. The company had revenue of $316.92 million for the quarter, compared to analyst estimates of $316.03 million. Shake Shack had a return on equity of 6.28% and a net margin of 0.68%. Shake Shack’s revenue was up 14.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.17 earnings per share. Analysts predict that Shake Shack Inc. will post 0.82 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on SHAK shares. Wedbush reiterated a “neutral” rating and issued a $90.00 price objective on shares of Shake Shack in a research note on Thursday, August 1st. The Goldman Sachs Group upped their price target on Shake Shack from $110.00 to $125.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $115.00 price target on shares of Shake Shack in a research note on Wednesday, August 28th. Piper Sandler cut Shake Shack from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $121.00 to $114.00 in a research note on Monday, August 19th. Finally, JPMorgan Chase & Co. restated an “underweight” rating and set a $102.00 price target (down previously from $105.00) on shares of Shake Shack in a research note on Tuesday, September 24th. 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’s stock. According to MarketBeat, Shake Shack currently has an average rating of “Hold” and an average price target of $112.94.

Insider Activity at Shake Shack

In related news, CFO Katherine Irene Fogertey sold 321 shares of the 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 sale, the chief financial officer now owns 36,180 shares of the company’s stock, valued at $3,760,187.40. This trade 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 available at the SEC website. Also, Director Daniel Harris Meyer sold 30,000 shares of the stock in a transaction on Friday, November 1st. The shares were 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 approximately $49,647,206.34. The trade was a 6.85 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 63,433 shares of company stock valued at $7,654,856 over the last quarter. Insiders own 9.73% of the company’s stock.

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.