Victory Capital Management Inc. Has $792,000 Stake in Shake Shack Inc. (NYSE:SHAK)

Victory Capital Management Inc. decreased its position in Shake Shack Inc. (NYSE:SHAK) by 95.0% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 8,796 shares of the company’s stock after selling 167,482 shares during the period. Victory Capital Management Inc.’s holdings in Shake Shack were worth $792,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. CWM LLC increased its position in Shake Shack by 24.7% during the second quarter. CWM LLC now owns 1,046 shares of the company’s stock worth $94,000 after buying an additional 207 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in Shake Shack by 5.8% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 3,855 shares of the company’s stock worth $347,000 after purchasing an additional 212 shares during the period. Allspring Global Investments Holdings LLC acquired a new position in Shake Shack during the first quarter valued at approximately $25,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Shake Shack by 3.4% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,340 shares of the company’s stock valued at $751,000 after purchasing an additional 274 shares during the last quarter. Finally, Louisiana State Employees Retirement System raised its position in shares of Shake Shack by 1.6% in the second quarter. Louisiana State Employees Retirement System now owns 18,900 shares of the company’s stock valued at $1,701,000 after purchasing an additional 300 shares during the period. Institutional investors and hedge funds own 86.07% of the company’s stock.

Shake Shack Price Performance

Shares of SHAK stock opened at $106.94 on Friday. Shake Shack Inc. has a 1 year low of $52.79 and a 1 year high of $111.29. The firm’s 50 day moving average is $97.29 and its 200-day moving average is $97.43. The firm has a market capitalization of $4.54 billion, a price-to-earnings ratio of 194.44, a PEG ratio of 3.02 and a beta of 1.83. The company has a current ratio of 2.06, a quick ratio of 2.03 and a debt-to-equity ratio of 0.51.

Shake Shack (NYSE:SHAK) last announced its earnings results on Thursday, August 1st. The company reported $0.27 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.27. The company had revenue of $316.50 million for the quarter, compared to analyst estimates of $314.37 million. Shake Shack had a net margin of 2.23% and a return on equity of 5.63%. Shake Shack’s quarterly revenue was up 16.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.18 earnings per share. Sell-side analysts forecast that Shake Shack Inc. will post 0.73 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Katherine Irene Fogertey sold 321 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $95.10, for a total transaction of $30,527.10. Following the completion of the sale, the chief financial officer now directly owns 37,143 shares of the company’s stock, valued at $3,532,299.30. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, Director Daniel Harris Meyer sold 10,000 shares of the stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $110.24, for a total transaction of $1,102,400.00. Following the completion of the sale, the director now owns 470,437 shares of the company’s stock, valued at $51,860,974.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Katherine Irene Fogertey sold 321 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $95.10, for a total transaction of $30,527.10. Following the sale, the chief financial officer now directly owns 37,143 shares of the company’s stock, valued at approximately $3,532,299.30. The disclosure for this sale can be found here. Insiders sold a total of 12,213 shares of company stock valued at $1,311,175 over the last ninety days. Insiders own 9.73% of the company’s stock.

Analyst Ratings Changes

SHAK has been the topic of several recent analyst reports. Wedbush reiterated a “neutral” rating and issued a $90.00 target price on shares of Shake Shack in a report on Thursday, August 1st. Truist Financial reiterated a “buy” rating and issued a $127.00 target price on shares of Shake Shack in a report on Wednesday, August 28th. Piper Sandler downgraded shares of Shake Shack from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $121.00 to $114.00 in a report on Monday, August 19th. Morgan Stanley dropped their target price on shares of Shake Shack from $108.00 to $100.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 16th. Finally, Bank of America boosted their price objective on shares of Shake Shack from $104.00 to $116.00 and gave the stock a “neutral” rating in a report on Monday, August 19th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Shake Shack has a consensus rating of “Hold” and a consensus price target of $107.56.

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.