Victory Capital Management Inc. Grows Stock Holdings in Shake Shack Inc. (NYSE:SHAK)

Victory Capital Management Inc. boosted its holdings in Shake Shack Inc. (NYSE:SHAK) by 47.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,977 shares of the company’s stock after buying an additional 4,181 shares during the quarter. Victory Capital Management Inc.’s holdings in Shake Shack were worth $1,339,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Quest Partners LLC acquired a new position in shares of Shake Shack during the 2nd quarter worth about $38,000. Mowery & Schoenfeld Wealth Management LLC acquired a new position in Shake Shack in the third quarter valued at approximately $41,000. Kimelman & Baird LLC acquired a new position in Shake Shack in the second quarter valued at approximately $45,000. Covestor Ltd increased its stake in Shake Shack by 41.6% in the third quarter. Covestor Ltd now owns 698 shares of the company’s stock valued at $72,000 after purchasing an additional 205 shares during the last quarter. Finally, CWM LLC raised its holdings 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 purchasing an additional 207 shares in the last quarter. 86.07% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SHAK has been the subject of several research analyst reports. JPMorgan Chase & Co. restated an “underweight” rating and issued a $102.00 target price (down previously from $105.00) on shares of Shake Shack in a report on Tuesday, September 24th. Robert W. Baird upped their price objective on shares of Shake Shack from $93.00 to $105.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Oppenheimer raised their price objective on Shake Shack from $122.00 to $135.00 and gave the stock an “outperform” rating in a report on Monday, October 28th. Truist Financial boosted their target price on Shake Shack from $127.00 to $144.00 and gave the company a “buy” rating in a report on Friday, November 1st. Finally, Wedbush restated a “neutral” rating and set a $90.00 price target on shares of Shake Shack in a research note on Thursday, August 1st. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $112.94.

Shake Shack Price Performance

Shares of NYSE SHAK opened at $132.66 on Wednesday. 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 one year low of $59.92 and a one year high of $134.90. The firm has a market capitalization of $5.64 billion, a P/E ratio of 780.35, a PEG ratio of 2.79 and a beta of 1.81. The company’s fifty day moving average is $114.30 and its two-hundred day moving average is $101.51.

Shake Shack (NYSE:SHAK) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.25 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.05. Shake Shack had a net margin of 0.68% and a return on equity of 6.28%. The firm had revenue of $316.92 million for the quarter, compared to the consensus estimate of $316.03 million. During the same quarter in the previous year, the firm earned $0.17 earnings per share. The firm’s revenue was up 14.7% on a year-over-year basis. Analysts forecast that Shake Shack Inc. will post 0.82 EPS for the current fiscal year.

Insider Transactions at Shake Shack

In other news, CFO Katherine Irene Fogertey sold 321 shares of the stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $98.57, for a total value of $31,640.97. Following the sale, the chief financial officer now directly owns 36,822 shares in the company, valued at $3,629,544.54. This represents a 0.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Daniel Harris Meyer sold 10,000 shares of the firm’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 transaction, the director now directly owns 460,337 shares of the company’s stock, valued at approximately $50,673,896.96. This trade represents a 2.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 63,433 shares of company stock valued at $7,654,856 in the last quarter. 9.73% of the stock is currently owned by corporate insiders.

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.