Geode Capital Management LLC lifted its holdings in Shake Shack Inc. (NYSE:SHAK - Free Report) by 3.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 876,380 shares of the company's stock after acquiring an additional 26,620 shares during the period. Geode Capital Management LLC owned approximately 2.06% of Shake Shack worth $90,470,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors also recently made changes to their positions in SHAK. Quest Partners LLC acquired a new stake in shares of Shake Shack during the 2nd quarter worth approximately $38,000. Mowery & Schoenfeld Wealth Management LLC acquired a new stake in Shake Shack in the third quarter worth $41,000. Kimelman & Baird LLC bought a new stake in Shake Shack in the second quarter valued at $45,000. Covestor Ltd raised its holdings in shares of Shake Shack by 41.6% during 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 period. Finally, KBC Group NV boosted its position in shares of Shake Shack by 24.1% during the 3rd quarter. KBC Group NV now owns 1,206 shares of the company's stock worth $124,000 after purchasing an additional 234 shares in the last quarter. 86.07% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE:SHAK opened at $129.63 on Friday. The company has a market capitalization of $5.51 billion, a PE ratio of 762.53, a price-to-earnings-growth ratio of 2.83 and a beta of 1.85. Shake Shack Inc. has a 1 year low of $64.16 and a 1 year high of $139.89. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.01 and a quick ratio of 1.98. The business has a fifty day moving average price of $123.64 and a two-hundred day moving average price of $105.59.
Shake Shack (NYSE:SHAK - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.25 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.20 by $0.05. The business had revenue of $316.92 million during the quarter, compared to the consensus estimate of $316.03 million. Shake Shack had a net margin of 0.68% and a return on equity of 6.28%. The firm's quarterly revenue was up 14.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.17 earnings per share. Analysts forecast that Shake Shack Inc. will post 0.82 earnings per share for the current year.
A number of research firms recently weighed in on SHAK. Truist Financial upped their price target on Shake Shack from $144.00 to $147.00 and gave the stock a "buy" rating in a research note on Thursday. TD Cowen reiterated a "buy" rating and issued a $125.00 target price on shares of Shake Shack in a report on Wednesday, September 18th. Barclays boosted their price target on shares of Shake Shack from $115.00 to $125.00 and gave the company an "equal weight" rating in a research note on Thursday, October 31st. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and issued a $115.00 price objective on shares of Shake Shack in a research note on Wednesday, August 28th. Finally, JPMorgan Chase & Co. reissued an "underweight" rating and set a $102.00 target price (down from $105.00) on shares of Shake Shack in a research report on Tuesday, September 24th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $113.12.
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In related news, Director Daniel Harris Meyer sold 10,000 shares of the business's stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $110.08, for a total value of $1,100,800.00. Following the sale, the director now directly owns 460,337 shares in the company, valued at approximately $50,673,896.96. The trade was a 2.13 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Katherine Irene Fogertey sold 321 shares of the stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $103.93, for a total transaction of $33,361.53. Following the transaction, the chief financial officer now owns 36,180 shares of the company's stock, valued at $3,760,187.40. This represents a 0.88 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 63,754 shares of company stock worth $7,711,497. Insiders own 9.73% of the company's stock.
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.
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