Thrivent Financial for Lutherans Has $2.81 Million Stock Holdings in Shake Shack Inc. (NYSE:SHAK)

Thrivent Financial for Lutherans lowered its position in Shake Shack Inc. (NYSE:SHAK) by 18.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 31,259 shares of the company’s stock after selling 6,891 shares during the quarter. Thrivent Financial for Lutherans owned 0.07% of Shake Shack worth $2,813,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC bought a new stake in Shake Shack in the first quarter valued at approximately $25,000. Quest Partners LLC bought a new stake in shares of Shake Shack in the 2nd quarter valued at $38,000. Covestor Ltd increased its position in shares of Shake Shack by 32,150.0% during the first quarter. Covestor Ltd now owns 645 shares of the company’s stock worth $67,000 after buying an additional 643 shares during the period. CWM LLC raised its stake 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. Finally, BI Asset Management Fondsmaeglerselskab A S acquired a new position in Shake Shack in the first quarter valued at $97,000. Institutional investors own 86.07% of the company’s stock.

Shake Shack Price Performance

Shake Shack stock opened at $104.71 on Monday. Shake Shack Inc. has a one year low of $52.79 and a one year high of $111.29. The business has a fifty day moving average price of $99.26 and a 200-day moving average price of $97.50. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.06 and a quick ratio of 2.03. The firm has a market capitalization of $4.45 billion, a P/E ratio of 190.39, a PEG ratio of 3.13 and a beta of 1.83.

Shake Shack (NYSE:SHAK) last posted its quarterly earnings data on Thursday, August 1st. The company reported $0.27 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.27. The company had revenue of $316.50 million during the quarter, compared to analyst estimates of $314.37 million. Shake Shack had a return on equity of 5.63% and a net margin of 2.23%. The firm’s quarterly revenue was up 16.4% on a year-over-year basis. During the same quarter last year, the company earned $0.18 earnings per share. As a group, equities research analysts forecast that Shake Shack Inc. will post 0.73 EPS for the current year.

Insider Activity at Shake Shack

In related news, Director Daniel Harris Meyer sold 10,000 shares of Shake Shack stock in a transaction on Thursday, August 15th. The stock was 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Shake Shack news, Director Daniel Harris Meyer sold 10,000 shares of the stock in a transaction that occurred 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 transaction, the director now directly owns 470,437 shares in the company, valued at $51,860,974.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Katherine Irene Fogertey sold 963 shares of Shake Shack stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $96.03, for a total transaction of $92,476.89. Following the completion of the transaction, the chief financial officer now owns 37,464 shares in the company, valued at approximately $3,597,667.92. The disclosure for this sale can be found here. Over the last quarter, insiders sold 12,213 shares of company stock valued at $1,311,175. Company insiders own 9.73% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Wedbush restated a “neutral” rating and set a $90.00 target price on shares of Shake Shack in a research report on Thursday, August 1st. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $115.00 target price on shares of Shake Shack in a research report on Wednesday, August 28th. Truist Financial restated a “buy” rating and set a $127.00 target price on shares of Shake Shack in a research report on Wednesday, August 28th. The Goldman Sachs Group upped their target price on Shake Shack from $110.00 to $125.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Finally, Capital One Financial assumed coverage on Shake Shack in a research report on Monday, July 29th. They set an “overweight” rating and a $95.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $107.39.

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.