US Bancorp DE Sells 149 Shares of Shake Shack Inc. (NYSE:SHAK)

US Bancorp DE trimmed its stake in Shake Shack Inc. (NYSE:SHAK) by 6.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,167 shares of the company’s stock after selling 149 shares during the period. US Bancorp DE’s holdings in Shake Shack were worth $224,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of SHAK. New York State Teachers Retirement System lifted its position in Shake Shack by 1.7% in the third quarter. New York State Teachers Retirement System now owns 39,025 shares of the company’s stock worth $4,028,000 after buying an additional 650 shares during the last quarter. Strategic Blueprint LLC bought a new stake in shares of Shake Shack in the 3rd quarter worth about $228,000. Nisa Investment Advisors LLC lifted its holdings in shares of Shake Shack by 35.8% in the 3rd quarter. Nisa Investment Advisors LLC now owns 3,110 shares of the company’s stock worth $321,000 after acquiring an additional 820 shares during the last quarter. State of Alaska Department of Revenue boosted its stake in shares of Shake Shack by 3.2% during the 3rd quarter. State of Alaska Department of Revenue now owns 22,816 shares of the company’s stock worth $2,354,000 after purchasing an additional 708 shares during the period. Finally, Louisiana State Employees Retirement System grew its holdings in Shake Shack by 2.1% during the 3rd quarter. Louisiana State Employees Retirement System now owns 19,300 shares of the company’s stock valued at $1,992,000 after purchasing an additional 400 shares during the last quarter. Hedge funds and other institutional investors own 86.07% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on SHAK. Capital One Financial began coverage on shares of Shake Shack in a research note on Monday, July 29th. They issued an “overweight” rating and a $95.00 price objective for the company. JPMorgan Chase & Co. restated an “underweight” rating and set a $102.00 price objective (down previously from $105.00) on shares of Shake Shack in a report on Tuesday, September 24th. Bank of America increased their target price on Shake Shack from $104.00 to $116.00 and gave the stock a “neutral” rating in a research note on Monday, August 19th. Robert W. Baird boosted their target price on shares of Shake Shack from $93.00 to $105.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Finally, Truist Financial upped their price target on shares of Shake Shack from $127.00 to $144.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $112.94.

Insider Buying and Selling

In other Shake Shack news, 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 completion of the sale, the chief financial officer now owns 36,822 shares of the company’s stock, valued at approximately $3,629,544.54. This trade represents a 0.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Daniel Harris Meyer sold 10,000 shares of the company’s stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $110.08, for a total transaction of $1,100,800.00. Following the transaction, the director now owns 460,337 shares in the company, valued at approximately $50,673,896.96. This trade represents a 2.13 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 63,433 shares of company stock worth $7,654,856 in the last 90 days. 9.73% of the stock is owned by corporate insiders.

Shake Shack Stock Down 2.8 %

Shake Shack stock opened at $124.05 on Friday. The company has a quick ratio of 1.98, a current ratio of 2.01 and a debt-to-equity ratio of 0.51. The firm has a market cap of $5.27 billion, a P/E ratio of 729.71, a P/E/G ratio of 2.99 and a beta of 1.81. The business has a fifty day moving average of $111.10 and a two-hundred day moving average of $100.76. Shake Shack Inc. has a twelve month low of $59.51 and a twelve month high of $134.90.

Shake Shack (NYSE:SHAK) last issued its quarterly earnings data 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. Shake Shack had a return on equity of 6.28% and a net margin of 0.68%. The firm had revenue of $316.92 million during the quarter, compared to analysts’ expectations of $316.03 million. During the same period in the prior year, the business posted $0.17 EPS. The firm’s quarterly revenue was up 14.7% on a year-over-year basis. On average, analysts forecast that Shake Shack Inc. will post 0.81 earnings per share 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.