Shake Shack Inc. (NYSE:SHAK) is Hedges Asset Management LLC’s 10th Largest Position

Hedges Asset Management LLC lessened its holdings in shares of Shake Shack Inc. (NYSE:SHAK) by 7.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 20,825 shares of the company’s stock after selling 1,690 shares during the quarter. Shake Shack accounts for about 1.8% of Hedges Asset Management LLC’s investment portfolio, making the stock its 10th largest holding. Hedges Asset Management LLC’s holdings in Shake Shack were worth $2,703,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of SHAK. American Century Companies Inc. increased its position in shares of Shake Shack by 18.6% in the second quarter. American Century Companies Inc. now owns 9,577 shares of the company’s stock worth $862,000 after acquiring an additional 1,505 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Shake Shack by 9.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 801,003 shares of the company’s stock worth $72,088,000 after purchasing an additional 66,090 shares during the period. Hsbc Holdings PLC increased its holdings in Shake Shack by 303.3% in the 2nd quarter. Hsbc Holdings PLC now owns 16,604 shares of the company’s stock valued at $1,460,000 after purchasing an additional 12,487 shares in the last quarter. Intech Investment Management LLC purchased a new position in Shake Shack in the second quarter valued at about $622,000. Finally, Canada Pension Plan Investment Board lifted its stake in shares of Shake Shack by 1.5% during the second quarter. Canada Pension Plan Investment Board now owns 26,900 shares of the company’s stock worth $2,421,000 after purchasing an additional 400 shares in the last quarter. Hedge funds and other institutional investors own 86.07% of the company’s stock.

Insider Buying and Selling

In other news, CFO Katherine Irene Fogertey sold 642 shares of the firm’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $137.51, for a total transaction of $88,281.42. Following the completion of the sale, the chief financial officer now directly owns 30,717 shares of the company’s stock, valued at $4,223,894.67. This trade represents a 2.05 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Daniel Harris Meyer sold 30,000 shares of the business’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $121.79, for a total value of $3,653,700.00. Following the sale, the director now directly owns 407,646 shares in the company, valued at $49,647,206.34. This trade represents a 6.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 53,333 shares of company stock valued at $6,566,330 over the last three months. Company insiders own 9.73% of the company’s stock.

Analyst Upgrades and Downgrades

SHAK has been the subject of a number of recent research reports. Stifel Nicolaus lowered their target price on Shake Shack from $128.00 to $110.00 and set a “hold” rating for the company in a research note on Friday, January 17th. Truist Financial dropped their price objective on shares of Shake Shack from $149.00 to $143.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Barclays raised shares of Shake Shack from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $125.00 to $159.00 in a research report on Tuesday, January 7th. Oppenheimer raised their target price on Shake Shack from $145.00 to $155.00 and gave the company an “outperform” rating in a research note on Tuesday, January 7th. Finally, Wedbush restated a “neutral” rating and issued a $130.00 price target on shares of Shake Shack in a research note on Wednesday, January 15th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $123.78.

Shake Shack Trading Up 0.3 %

Shake Shack stock opened at $121.53 on Friday. Shake Shack Inc. has a 12-month low of $70.68 and a 12-month high of $139.89. The stock has a market capitalization of $5.16 billion, a PE ratio of 714.85, a price-to-earnings-growth ratio of 1.67 and a beta of 1.86. The firm has a 50 day simple moving average of $128.28 and a 200-day simple moving average of $112.13. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.01 and a quick ratio of 1.98.

Shake Shack (NYSE:SHAK) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.05. The company had revenue of $316.92 million for the quarter, compared to analysts’ expectations of $316.03 million. Shake Shack had a return on equity of 6.28% and a net margin of 0.68%. The firm’s revenue for the quarter was up 14.7% on a year-over-year basis. During the same period last year, the firm earned $0.17 EPS. As a group, equities research analysts expect that Shake Shack Inc. will post 0.89 EPS for the current fiscal year.

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.