Shake Shack Inc. (NYSE:SHAK) Shares Purchased by Glenmede Trust Co. NA

Glenmede Trust Co. NA boosted its position in shares of Shake Shack Inc. (NYSE:SHAK) by 1.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,293 shares of the company’s stock after acquiring an additional 199 shares during the quarter. Glenmede Trust Co. NA’s holdings in Shake Shack were worth $1,372,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Hsbc Holdings PLC raised its stake in shares of Shake Shack by 303.3% in the second quarter. Hsbc Holdings PLC now owns 16,604 shares of the company’s stock valued at $1,460,000 after acquiring an additional 12,487 shares in the last quarter. Fisher Asset Management LLC boosted its stake in Shake Shack by 4.8% during the 3rd quarter. Fisher Asset Management LLC now owns 354,114 shares of the company’s stock worth $36,548,000 after purchasing an additional 16,097 shares during the period. GDS Wealth Management acquired a new stake in shares of Shake Shack during the third quarter worth about $417,000. Qsemble Capital Management LP purchased a new position in shares of Shake Shack during the second quarter worth about $661,000. Finally, Jennison Associates LLC increased its position in Shake Shack by 10.8% in the 3rd quarter. Jennison Associates LLC now owns 294,111 shares of the company’s stock valued at $30,355,000 after acquiring an additional 28,661 shares during the period. 86.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SHAK has been the topic of several analyst reports. Oppenheimer lifted their target price on Shake Shack from $122.00 to $135.00 and gave the company an “outperform” rating in a research note on Monday, October 28th. Truist Financial lifted their price objective on shares of Shake Shack from $127.00 to $144.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Bank of America upped their price objective on shares of Shake Shack from $104.00 to $116.00 and gave the stock a “neutral” rating in a research report on Monday, August 19th. JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a $102.00 target price (down previously from $105.00) on shares of Shake Shack in a report on Tuesday, September 24th. Finally, TD Cowen reissued a “buy” rating and issued a $125.00 price target on shares of Shake Shack in a report on Wednesday, September 18th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Shake Shack presently has a consensus rating of “Hold” and an average target price of $112.94.

Insider Activity at Shake Shack

In related news, CFO Katherine Irene Fogertey sold 321 shares of the company’s stock in a transaction on Wednesday, October 2nd. The stock was 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 represents a 0.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Daniel Harris Meyer sold 30,000 shares of the firm’s stock in a transaction dated 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 completion of the sale, the director now directly owns 407,646 shares in the company, valued at approximately $49,647,206.34. The trade was 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 63,433 shares of company stock valued at $7,654,856 over the last quarter. Insiders own 9.73% of the company’s stock.

Shake Shack Stock Up 1.0 %

Shares of NYSE SHAK opened at $133.73 on Monday. 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 firm’s 50-day moving average is $116.51 and its two-hundred day moving average is $102.36. Shake Shack Inc. has a 12-month low of $59.94 and a 12-month high of $134.90. The company has a market capitalization of $5.68 billion, a PE ratio of 786.65, a price-to-earnings-growth ratio of 3.04 and a beta of 1.81.

Shake Shack (NYSE:SHAK) last posted its 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. The firm had revenue of $316.92 million for the quarter, compared to analyst estimates of $316.03 million. Shake Shack had a return on equity of 6.28% and a net margin of 0.68%. Shake Shack’s revenue was up 14.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.17 EPS. Equities analysts anticipate that Shake Shack Inc. will post 0.82 EPS for the current fiscal 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.