Cornerstone Capital Inc. Decreases Stock Holdings in Shake Shack Inc. (NYSE:SHAK)

Cornerstone Capital Inc. reduced its stake in shares of Shake Shack Inc. (NYSE:SHAK) by 0.1% in the fourth quarter, HoldingsChannel reports. The firm owned 236,683 shares of the company’s stock after selling 305 shares during the period. Shake Shack makes up approximately 1.9% of Cornerstone Capital Inc.’s investment portfolio, making the stock its 20th largest position. Cornerstone Capital Inc.’s holdings in Shake Shack were worth $17,543,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in SHAK. GAMMA Investing LLC purchased a new stake in Shake Shack in the fourth quarter valued at about $32,000. Ramirez Asset Management Inc. purchased a new stake in Shake Shack in the third quarter valued at about $35,000. C M Bidwell & Associates Ltd. raised its stake in Shake Shack by 122.6% in the third quarter. C M Bidwell & Associates Ltd. now owns 1,111 shares of the company’s stock valued at $65,000 after buying an additional 612 shares during the last quarter. CWM LLC raised its stake in Shake Shack by 37.4% in the third quarter. CWM LLC now owns 1,349 shares of the company’s stock valued at $78,000 after buying an additional 367 shares during the last quarter. Finally, QRG Capital Management Inc. purchased a new stake in Shake Shack in the third quarter valued at about $206,000. 86.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on SHAK. TD Cowen reiterated a “buy” rating and issued a $125.00 price target on shares of Shake Shack in a research note on Wednesday, April 10th. Wedbush reiterated a “neutral” rating and issued a $80.00 price target on shares of Shake Shack in a research note on Wednesday, February 14th. UBS Group raised their price objective on Shake Shack from $80.00 to $88.00 and gave the stock a “neutral” rating in a research note on Monday, February 12th. Truist Financial raised their price objective on Shake Shack from $112.00 to $115.00 and gave the stock a “buy” rating in a research note on Tuesday, April 2nd. Finally, Robert W. Baird raised their price objective on Shake Shack from $67.00 to $82.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 13th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $88.67.

Insider Buying and Selling at Shake Shack

In other Shake Shack news, Director Jeffrey Flug sold 304 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $108.05, for a total value of $32,847.20. Following the sale, the director now directly owns 4,058 shares of the company’s stock, valued at $438,466.90. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, Director Daniel Harris Meyer sold 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $95.25, for a total value of $2,857,500.00. Following the transaction, the director now owns 550,437 shares in the company, valued at $52,429,124.25. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Jeffrey Flug sold 304 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $108.05, for a total value of $32,847.20. Following the completion of the transaction, the director now owns 4,058 shares in the company, valued at approximately $438,466.90. The disclosure for this sale can be found here. Over the last three months, insiders have sold 100,912 shares of company stock valued at $10,201,834. Company insiders own 10.06% of the company’s stock.

Shake Shack Stock Up 3.5 %

Shake Shack stock opened at $104.88 on Friday. The firm has a market cap of $4.44 billion, a price-to-earnings ratio of 228.00, a price-to-earnings-growth ratio of 3.78 and a beta of 1.80. Shake Shack Inc. has a 52 week low of $52.64 and a 52 week high of $110.90. The business’s 50-day moving average price is $101.55 and its 200 day moving average price is $78.83. The company has a quick ratio of 2.01, a current ratio of 2.04 and a debt-to-equity ratio of 0.52.

Shake Shack (NYSE:SHAK) last posted its earnings results on Thursday, February 15th. The company reported $0.02 EPS for the quarter. The firm had revenue of $286.20 million for the quarter, compared to analyst estimates of $280.45 million. Shake Shack had a return on equity of 3.67% and a net margin of 1.82%. Shake Shack’s revenue for the quarter was up 20.0% compared to the same quarter last year. During the same period last year, the company earned ($0.06) earnings per share. As a group, sell-side analysts anticipate that Shake Shack Inc. will post 0.71 earnings per share for the current year.

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.