HighTower Advisors LLC Sells 855 Shares of Shake Shack Inc. (NYSE:SHAK)

HighTower Advisors LLC trimmed its stake in Shake Shack Inc. (NYSE:SHAK) by 13.3% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,594 shares of the company’s stock after selling 855 shares during the quarter. HighTower Advisors LLC’s holdings in Shake Shack were worth $577,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. Mowery & Schoenfeld Wealth Management LLC bought a new stake in shares of Shake Shack in the 3rd quarter valued at about $41,000. Quest Partners LLC bought a new stake in Shake Shack in the second quarter valued at approximately $38,000. Kimelman & Baird LLC acquired a new stake in shares of Shake Shack in the second quarter valued at approximately $45,000. Covestor Ltd boosted its stake in shares of Shake Shack by 41.6% during the 3rd quarter. Covestor Ltd now owns 698 shares of the company’s stock worth $72,000 after acquiring an additional 205 shares during the period. Finally, KBC Group NV boosted its stake in shares of Shake Shack by 24.1% during the 3rd quarter. KBC Group NV now owns 1,206 shares of the company’s stock worth $124,000 after acquiring an additional 234 shares during the period. Institutional investors and hedge funds own 86.07% of the company’s stock.

Analyst Ratings Changes

SHAK has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $115.00 price target on shares of Shake Shack in a research note on Wednesday, August 28th. Barclays upped their target price on Shake Shack from $115.00 to $125.00 and gave the company an “equal weight” rating in a research report on Thursday, October 31st. Oppenheimer lifted their price target on Shake Shack from $122.00 to $135.00 and gave the stock an “outperform” rating in a report on Monday, October 28th. JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a $102.00 price objective (down from $105.00) on shares of Shake Shack in a report on Tuesday, September 24th. Finally, TD Cowen reissued a “buy” rating and set a $125.00 target price on shares of Shake Shack in a report on Wednesday, September 18th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Shake Shack has a consensus rating of “Hold” and an average target price of $113.12.

Shake Shack Trading Up 3.0 %

Shares of SHAK opened at $129.63 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. Shake Shack Inc. has a 52-week low of $64.16 and a 52-week high of $139.89. The firm has a market cap of $5.51 billion, a price-to-earnings ratio of 762.53, a PEG ratio of 2.83 and a beta of 1.85. The business’s fifty day moving average is $123.64 and its 200-day moving average is $105.59.

Shake Shack (NYSE:SHAK) last released its earnings results on Wednesday, October 30th. The company reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.05. The firm 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 business’s revenue for the quarter was up 14.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.17 earnings per share. Equities analysts anticipate that Shake Shack Inc. will post 0.82 EPS for the current fiscal year.

Insider Activity at Shake Shack

In other news, CFO Katherine Irene Fogertey sold 321 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $103.93, for a total value of $33,361.53. Following the completion of the transaction, the chief financial officer now owns 36,180 shares of the company’s stock, valued at $3,760,187.40. This represents a 0.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Daniel Harris Meyer sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $110.08, for a total transaction of $1,100,800.00. Following the sale, the director now directly 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 sold a total of 63,754 shares of company stock valued at $7,711,497 in 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.