KBC Group NV Boosts Stake in Shake Shack Inc. (NYSE:SHAK)

KBC Group NV lifted its holdings in shares of Shake Shack Inc. (NYSE:SHAK) by 50.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,809 shares of the company’s stock after buying an additional 603 shares during the period. KBC Group NV’s holdings in Shake Shack were worth $235,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of SHAK. State Street Corp increased its holdings in Shake Shack by 3.5% during the third quarter. State Street Corp now owns 1,452,736 shares of the company’s stock valued at $149,937,000 after buying an additional 49,324 shares during the last quarter. Holocene Advisors LP increased its stake in shares of Shake Shack by 68.3% in the 3rd quarter. Holocene Advisors LP now owns 946,350 shares of the company’s stock worth $97,673,000 after purchasing an additional 384,131 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Shake Shack by 3.1% in the 3rd quarter. Geode Capital Management LLC now owns 876,380 shares of the company’s stock worth $90,470,000 after purchasing an additional 26,620 shares in the last quarter. Point72 Asset Management L.P. lifted its position in Shake Shack by 154.8% during the third quarter. Point72 Asset Management L.P. now owns 650,685 shares of the company’s stock valued at $67,157,000 after purchasing an additional 395,311 shares in the last quarter. Finally, Champlain Investment Partners LLC grew its holdings in Shake Shack by 4.7% during the third quarter. Champlain Investment Partners LLC now owns 614,747 shares of the company’s stock valued at $63,448,000 after purchasing an additional 27,707 shares during the period. 86.07% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently commented on SHAK shares. Wedbush reaffirmed a “neutral” rating and issued a $130.00 price objective on shares of Shake Shack in a research note on Wednesday, January 15th. Gordon Haskett upgraded shares of Shake Shack from a “hold” rating to a “buy” rating and set a $154.00 target price on the stock in a research note on Wednesday, January 8th. Oppenheimer upped their price target on shares of Shake Shack from $145.00 to $155.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 7th. Stifel Nicolaus decreased their price objective on shares of Shake Shack from $128.00 to $110.00 and set a “hold” rating on the stock in a research report on Friday, January 17th. Finally, UBS Group upped their target price on shares of Shake Shack from $130.00 to $140.00 and gave the stock a “neutral” rating in a report on Tuesday, January 7th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Shake Shack currently has an average rating of “Hold” and a consensus price target of $123.78.

Shake Shack Price Performance

Shake Shack stock opened at $119.65 on Wednesday. The firm has a market capitalization of $5.08 billion, a PE ratio of 703.82 and a beta of 1.86. Shake Shack Inc. has a 12-month low of $73.75 and a 12-month high of $139.89. The firm has a 50-day moving average price of $127.63 and a 200-day moving average price of $114.40. The company has a current ratio of 2.01, a quick ratio of 1.98 and a debt-to-equity ratio of 0.51.

Insiders Place Their Bets

In other news, CFO Katherine Irene Fogertey sold 642 shares of the company’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 transaction, the chief financial officer now directly owns 30,717 shares in the company, valued at approximately $4,223,894.67. This represents a 2.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 9.73% of the stock is owned by insiders.

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.