Wealth Enhancement Advisory Services LLC Lowers Stock Holdings in Shake Shack Inc. (NYSE:SHAK)

Wealth Enhancement Advisory Services LLC lowered its stake in shares of Shake Shack Inc. (NYSE:SHAK) by 3.9% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 3,703 shares of the company’s stock after selling 152 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Shake Shack were worth $382,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in SHAK. Allspring Global Investments Holdings LLC acquired a new stake in Shake Shack in the first quarter valued at about $25,000. BNP Paribas Financial Markets lifted its position in Shake Shack by 7.8% in the first quarter. BNP Paribas Financial Markets now owns 41,487 shares of the company’s stock valued at $4,316,000 after purchasing an additional 2,996 shares during the period. Janney Montgomery Scott LLC acquired a new stake in Shake Shack in the first quarter valued at about $853,000. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in Shake Shack in the first quarter valued at about $97,000. Finally, GSA Capital Partners LLP acquired a new stake in Shake Shack in the first quarter valued at about $675,000. Hedge funds and other institutional investors own 86.07% of the company’s stock.

Insiders Place Their Bets

In other news, Director Daniel Harris Meyer sold 30,000 shares of the business’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $121.79, for a total transaction of $3,653,700.00. Following the completion of the sale, the director now directly owns 407,646 shares of the company’s stock, valued at $49,647,206.34. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, CFO Katherine Irene Fogertey sold 321 shares of the business’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $98.57, for a total transaction of $31,640.97. Following the completion of the sale, the chief financial officer now directly owns 36,822 shares of the company’s stock, valued at $3,629,544.54. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Daniel Harris Meyer sold 30,000 shares of the business’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $121.79, for a total transaction of $3,653,700.00. Following the sale, the director now directly owns 407,646 shares of the company’s stock, valued at $49,647,206.34. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 73,433 shares of company stock valued at $8,757,256. Company insiders own 9.73% of the company’s stock.

Analyst Upgrades and Downgrades

SHAK has been the subject of a number of recent analyst reports. Bank of America raised their price objective on shares of Shake Shack from $104.00 to $116.00 and gave the company a “neutral” rating in a research report on Monday, August 19th. Barclays lifted 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 report on Thursday, October 31st. Piper Sandler downgraded shares of Shake Shack from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $121.00 to $114.00 in a research report on Monday, August 19th. The Goldman Sachs Group lifted their price target on shares of Shake Shack from $110.00 to $125.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Finally, Capital One Financial assumed coverage on shares of Shake Shack in a research report on Monday, July 29th. They set an “overweight” rating and a $95.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $110.00.

Shake Shack Stock Down 0.4 %

SHAK stock opened at $131.33 on Friday. The stock has a market capitalization of $5.58 billion, a P/E ratio of 772.53, a PEG ratio of 3.05 and a beta of 1.81. 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 $54.06 and a one year high of $134.90. The company has a 50 day moving average price of $108.69 and a two-hundred day moving average price of $100.02.

Shake Shack (NYSE:SHAK) last released its earnings results on Wednesday, October 30th. The company reported $0.25 EPS for the quarter, topping the consensus estimate of $0.20 by $0.05. The firm had revenue of $316.92 million during the quarter, compared to analysts’ expectations of $316.03 million. Shake Shack had a net margin of 0.68% and a return on equity of 6.28%. Shake Shack’s revenue for the quarter was up 14.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.17 EPS. As a group, sell-side analysts expect that Shake Shack Inc. will post 0.81 EPS for the current year.

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.