Stifel Financial Corp Trims Stock Holdings in Shake Shack Inc. (NYSE:SHAK)

Stifel Financial Corp decreased its position in Shake Shack Inc. (NYSE:SHAK) by 4.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,937 shares of the company’s stock after selling 134 shares during the quarter. Stifel Financial Corp’s holdings in Shake Shack were worth $303,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in SHAK. Bank of New York Mellon Corp increased its stake in shares of Shake Shack by 1.4% during the second quarter. Bank of New York Mellon Corp now owns 300,539 shares of the company’s stock valued at $27,048,000 after purchasing an additional 4,201 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Shake Shack by 3.4% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,340 shares of the company’s stock valued at $751,000 after buying an additional 274 shares in the last quarter. Summit Financial LLC raised its stake in Shake Shack by 8.3% during the second quarter. Summit Financial LLC now owns 12,788 shares of the company’s stock valued at $1,151,000 after buying an additional 976 shares during the last quarter. Rhumbline Advisers boosted its holdings in Shake Shack by 1.5% in the second quarter. Rhumbline Advisers now owns 106,272 shares of the company’s stock worth $9,564,000 after acquiring an additional 1,523 shares in the last quarter. Finally, Larson Financial Group LLC grew its stake in shares of Shake Shack by 2.3% in the second quarter. Larson Financial Group LLC now owns 37,946 shares of the company’s stock worth $3,415,000 after acquiring an additional 866 shares during the last quarter. Hedge funds and other institutional investors own 86.07% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Katherine Irene Fogertey sold 642 shares of the business’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $137.51, for a total value of $88,281.42. Following the completion of the sale, the chief financial officer now owns 30,717 shares in the company, valued at approximately $4,223,894.67. The trade was a 2.05 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Daniel Harris Meyer sold 22,691 shares of the stock in a transaction that occurred on Wednesday, October 30th. The shares were 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 in the company, valued at approximately $54,473,797.62. This represents a 4.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 63,654 shares of company stock worth $7,700,492 over the last quarter. Company insiders own 9.73% of the company’s stock.

Shake Shack Stock Up 0.1 %

Shares of SHAK opened at $132.55 on Friday. The business’s 50 day simple moving average is $126.71 and its 200-day simple moving average is $107.35. Shake Shack Inc. has a 1 year low of $64.16 and a 1 year high of $139.89. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.01 and a quick ratio of 1.98. The stock has a market capitalization of $5.63 billion, a price-to-earnings ratio of 779.71, a price-to-earnings-growth ratio of 2.83 and a beta of 1.85.

Shake Shack (NYSE:SHAK) last released its quarterly 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 company 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%. Shake Shack’s revenue was up 14.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.17 earnings per share. As a group, equities analysts expect that Shake Shack Inc. will post 0.82 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Barclays upped their price target on shares of Shake Shack from $115.00 to $125.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 31st. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $102.00 target price (down previously from $105.00) on shares of Shake Shack in a research note on Tuesday, September 24th. Truist Financial raised their price target on shares of Shake Shack from $144.00 to $147.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Oppenheimer boosted their price objective on shares of Shake Shack from $122.00 to $135.00 and gave the stock an “outperform” rating in a report on Monday, October 28th. Finally, TD Cowen reiterated a “buy” rating and set a $125.00 target price on shares of Shake Shack in a research note on Wednesday, September 18th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Shake Shack has a consensus rating of “Hold” and a consensus price target of $115.56.

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.