Shake Shack Inc. (NYSE:SHAK) Shares Sold by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC decreased its position in Shake Shack Inc. (NYSE:SHAK) by 3.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,703 shares of the company’s stock after selling 152 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Shake Shack were worth $382,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SHAK. Allspring Global Investments Holdings LLC purchased a new position in shares of Shake Shack during the 1st quarter valued at about $25,000. Quest Partners LLC purchased a new position in shares of Shake Shack during the 2nd quarter valued at about $38,000. Mowery & Schoenfeld Wealth Management LLC purchased a new position in shares of Shake Shack during the 3rd quarter valued at about $41,000. Kimelman & Baird LLC purchased a new position in shares of Shake Shack during the 2nd quarter valued at about $45,000. Finally, Covestor Ltd raised its stake in shares of Shake Shack by 32,150.0% during the 1st quarter. Covestor Ltd now owns 645 shares of the company’s stock valued at $67,000 after buying an additional 643 shares during the last quarter. Hedge funds and other institutional investors own 86.07% of the company’s stock.

Shake Shack Stock Down 0.4 %

Shares of NYSE SHAK opened at $131.33 on Friday. The stock has a market cap of $5.58 billion, a P/E ratio of 772.53, a PEG ratio of 3.05 and a beta of 1.81. The company has a current ratio of 2.01, a quick ratio of 1.98 and a debt-to-equity ratio of 0.51. Shake Shack Inc. has a 12-month low of $54.06 and a 12-month high of $134.90. The business’s fifty day simple moving average is $108.69 and its 200-day simple moving average is $100.02.

Shake Shack (NYSE:SHAK) last announced its quarterly earnings data 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 business had revenue of $316.92 million for the quarter, compared to analysts’ expectations 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 last year, the firm earned $0.17 earnings per share. As a group, equities analysts predict that Shake Shack Inc. will post 0.81 EPS for the current fiscal year.

Insider Activity at Shake Shack

In related news, Director Daniel Harris Meyer sold 22,691 shares of the stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $124.47, for a total value of $2,824,348.77. Following the transaction, the director now owns 437,646 shares of the company’s stock, valued at $54,473,797.62. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other Shake Shack news, Director Daniel Harris Meyer sold 22,691 shares of the firm’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $124.47, for a total transaction of $2,824,348.77. Following the transaction, the director now owns 437,646 shares of the company’s stock, valued at approximately $54,473,797.62. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Katherine Irene Fogertey sold 321 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $98.57, for a total value of $31,640.97. Following the transaction, the chief financial officer now directly owns 36,822 shares in the company, valued at approximately $3,629,544.54. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 73,433 shares of company stock valued at $8,757,256 over the last quarter. 9.73% of the stock is owned by insiders.

Analyst Ratings Changes

Several brokerages recently weighed in on SHAK. Morgan Stanley cut their price target on Shake Shack from $108.00 to $100.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 16th. Capital One Financial initiated coverage on Shake Shack in a report on Monday, July 29th. They issued an “overweight” rating and a $95.00 price objective on the stock. Piper Sandler cut Shake Shack from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $121.00 to $114.00 in a report on Monday, August 19th. Truist Financial lifted their price objective on Shake Shack from $127.00 to $144.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Finally, Barclays lifted their price objective on Shake Shack from $115.00 to $125.00 and gave the stock an “equal weight” rating in a report on Thursday, October 31st. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $110.00.

About Shake Shack

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.