Charles Schwab Investment Management Inc. Raises Holdings in Shake Shack Inc. (NYSE:SHAK)

Charles Schwab Investment Management Inc. boosted its stake in shares of Shake Shack Inc. (NYSE:SHAK) by 7.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 353,501 shares of the company’s stock after buying an additional 24,813 shares during the period. Charles Schwab Investment Management Inc. owned 0.83% of Shake Shack worth $36,485,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Quest Partners LLC acquired a new stake in Shake Shack in the second quarter worth about $38,000. Mowery & Schoenfeld Wealth Management LLC acquired a new position in Shake Shack in the 3rd quarter worth approximately $41,000. Kimelman & Baird LLC acquired a new stake in shares of Shake Shack in the second quarter worth $45,000. Covestor Ltd grew its position in Shake Shack by 41.6% during the 3rd quarter. Covestor Ltd now owns 698 shares of the company’s stock worth $72,000 after purchasing an additional 205 shares during the period. Finally, CWM LLC increased its holdings in shares of Shake Shack by 24.7% during the 2nd quarter. CWM LLC now owns 1,046 shares of the company’s stock valued at $94,000 after purchasing an additional 207 shares in the last quarter. Institutional investors own 86.07% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on SHAK. Barclays increased their price target on Shake Shack from $115.00 to $125.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 31st. Truist Financial lifted their target price on shares of Shake Shack from $127.00 to $144.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Oppenheimer raised their target price 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. Piper Sandler cut shares of Shake Shack from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $121.00 to $114.00 in a research report on Monday, August 19th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $115.00 target price on shares of Shake Shack in a research note on Wednesday, August 28th. 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 assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $112.94.

Shake Shack Trading Down 0.2 %

NYSE SHAK opened at $133.50 on Tuesday. 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 50-day moving average price of $117.05 and a 200 day moving average price of $102.58. The stock has a market capitalization of $5.67 billion, a P/E ratio of 785.29, a P/E/G ratio of 3.04 and a beta of 1.81. Shake Shack Inc. has a 52-week low of $60.84 and a 52-week high of $135.76.

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 the consensus estimate of $316.03 million. Shake Shack had a net margin of 0.68% and a return on equity of 6.28%. The company’s quarterly revenue was up 14.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.17 earnings per share. Equities research analysts expect that Shake Shack Inc. will post 0.82 EPS for the current year.

Insider Activity at Shake Shack

In other Shake Shack news, CFO Katherine Irene Fogertey sold 321 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $103.93, for a total transaction of $33,361.53. Following the transaction, the chief financial officer now owns 36,180 shares in the company, valued at $3,760,187.40. The trade was a 0.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Daniel Harris Meyer sold 30,000 shares of the firm’s stock in a transaction dated 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 owns 407,646 shares in the company, valued at approximately $49,647,206.34. The trade was a 6.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 63,433 shares of company stock worth $7,654,856. 9.73% of the stock is owned by company insiders.

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.