Edgestream Partners L.P. Acquires Shares of 7,585 Shake Shack Inc. (NYSE:SHAK)

Edgestream Partners L.P. acquired a new position in Shake Shack Inc. (NYSE:SHAK) during the third quarter, Holdings Channel.com reports. The firm acquired 7,585 shares of the company’s stock, valued at approximately $783,000.

Several other institutional investors have also recently made changes to their positions in SHAK. Xponance Inc. grew its position in Shake Shack by 4.5% during the 2nd quarter. Xponance Inc. now owns 2,395 shares of the company’s stock worth $216,000 after purchasing an additional 103 shares during the period. Thrivent Financial for Lutherans grew its holdings in Shake Shack by 0.4% during the third quarter. Thrivent Financial for Lutherans now owns 31,398 shares of the company’s stock worth $3,241,000 after acquiring an additional 139 shares during the period. Brighton Jones LLC lifted its holdings in Shake Shack by 1.1% in the second quarter. Brighton Jones LLC now owns 17,909 shares of the company’s stock valued at $1,612,000 after acquiring an additional 187 shares during the period. Arizona State Retirement System lifted its holdings in Shake Shack by 1.9% in the second quarter. Arizona State Retirement System now owns 10,500 shares of the company’s stock valued at $945,000 after acquiring an additional 196 shares during the period. Finally, Glenmede Trust Co. NA boosted its position in Shake Shack by 1.5% in the 3rd quarter. Glenmede Trust Co. NA now owns 13,293 shares of the company’s stock worth $1,372,000 after purchasing an additional 199 shares in the last quarter. Hedge funds and other institutional investors own 86.07% of the company’s stock.

Shake Shack Stock Up 0.7 %

Shares of NYSE SHAK opened at $133.27 on Thursday. The stock has a market cap of $5.66 billion, a PE ratio of 783.94, a P/E/G ratio of 3.03 and a beta of 1.85. The company has a current ratio of 2.01, a quick ratio of 1.98 and a debt-to-equity ratio of 0.51. Shake Shack Inc. has a 12-month low of $60.84 and a 12-month high of $135.76. The company has a 50-day moving average of $118.16 and a 200 day moving average of $103.03.

Shake Shack (NYSE:SHAK) last posted 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. Shake Shack had a return on equity of 6.28% and a net margin of 0.68%. The business had revenue of $316.92 million during the quarter, compared to analyst estimates of $316.03 million. During the same period in the prior year, the business earned $0.17 earnings per share. The business’s revenue was up 14.7% compared to the same quarter last year. As a group, sell-side analysts predict that Shake Shack Inc. will post 0.82 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on SHAK. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $102.00 target price (down from $105.00) on shares of Shake Shack in a research note on Tuesday, September 24th. Truist Financial upped their price objective on shares of Shake Shack from $127.00 to $144.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Barclays raised their target price on Shake Shack from $115.00 to $125.00 and gave the company an “equal weight” rating in a research report on Thursday, October 31st. Piper Sandler lowered Shake Shack from an “overweight” rating to a “neutral” rating and cut their price target for the company from $121.00 to $114.00 in a research note on Monday, August 19th. Finally, Bank of America raised their price objective on Shake Shack from $104.00 to $116.00 and gave the company a “neutral” rating in a report on Monday, August 19th. Two analysts have rated the stock with a sell rating, nine have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Shake Shack has an average rating of “Hold” and a consensus price target of $112.94.

Insiders Place Their Bets

In related news, Director Daniel Harris Meyer sold 22,691 shares of the stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $124.47, for a total value of $2,824,348.77. Following the completion of the transaction, the director now directly 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Katherine Irene Fogertey sold 321 shares of the company’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $103.93, for a total value of $33,361.53. Following the completion of the transaction, the chief financial officer now directly owns 36,180 shares in the company, valued at approximately $3,760,187.40. This trade represents a 0.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 63,112 shares of company stock valued at $7,623,215 in the last three months. 9.73% of the stock is currently owned by insiders.

Shake Shack Company 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.