Shake Shack Inc. (NYSE:SHAK) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC lessened its position in Shake Shack Inc. (NYSE:SHAK) by 2.8% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,013 shares of the company’s stock after selling 176 shares during the period. Mutual of America Capital Management LLC’s holdings in Shake Shack were worth $621,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of SHAK. Quest Partners LLC acquired a new position in shares of Shake Shack during the second quarter valued at $38,000. Mowery & Schoenfeld Wealth Management LLC acquired a new stake in shares of Shake Shack in the 3rd quarter worth approximately $41,000. Kimelman & Baird LLC acquired a new position in shares of Shake Shack during the second quarter valued at approximately $45,000. Covestor Ltd raised its holdings in Shake Shack by 41.6% during the third quarter. Covestor Ltd now owns 698 shares of the company’s stock worth $72,000 after purchasing an additional 205 shares in the last quarter. Finally, CWM LLC lifted its position in Shake Shack by 24.7% in the second quarter. CWM LLC now owns 1,046 shares of the company’s stock worth $94,000 after purchasing an additional 207 shares during the period. 86.07% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Shake Shack

In other Shake Shack news, CFO Katherine Irene Fogertey sold 321 shares of the company’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $98.57, for a total transaction of $31,640.97. Following the completion of the sale, the chief financial officer now directly owns 36,822 shares in the company, valued at $3,629,544.54. This represents a 0.86 % 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 10,000 shares of Shake Shack stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $110.08, for a total value of $1,100,800.00. Following the completion of the transaction, the director now owns 460,337 shares in the company, valued at $50,673,896.96. The trade was a 2.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 63,433 shares of company stock worth $7,654,856 over the last 90 days. Insiders own 9.73% of the company’s stock.

Shake Shack Stock Up 2.5 %

Shake Shack stock opened at $132.66 on Wednesday. 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 1-year low of $59.92 and a 1-year high of $134.90. The firm’s fifty day simple moving average is $114.30 and its 200-day simple moving average is $101.51. The company has a market capitalization of $5.64 billion, a P/E ratio of 780.35, a P/E/G ratio of 2.79 and a beta of 1.81.

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%. The business’s revenue was up 14.7% compared to the same quarter last year. During the same period last year, the company earned $0.17 earnings per share. Sell-side analysts forecast that Shake Shack Inc. will post 0.82 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently commented on SHAK shares. Bank of America upped their price objective on Shake Shack from $104.00 to $116.00 and gave the company a “neutral” rating in a report on Monday, August 19th. Wedbush restated a “neutral” rating and set a $90.00 price objective on shares of Shake Shack in a research report on Thursday, August 1st. Oppenheimer lifted their price objective on shares of Shake Shack from $122.00 to $135.00 and gave the stock an “outperform” rating in a research note on Monday, October 28th. Barclays increased their target price on shares of Shake Shack from $115.00 to $125.00 and gave the company an “equal weight” rating in a research note on Thursday, October 31st. Finally, TD Cowen restated a “buy” rating and issued a $125.00 target price on shares of Shake Shack in a report on Wednesday, September 18th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $112.94.

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.