State Street Corp Has $149.94 Million Stock Position in Shake Shack Inc. (NYSE:SHAK)

State Street Corp grew its stake in shares of Shake Shack Inc. (NYSE:SHAK) by 3.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,452,736 shares of the company’s stock after purchasing an additional 49,324 shares during the period. State Street Corp owned approximately 3.42% of Shake Shack worth $149,937,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Hsbc Holdings PLC increased its position in shares of Shake Shack by 303.3% during the second quarter. Hsbc Holdings PLC now owns 16,604 shares of the company’s stock worth $1,460,000 after acquiring an additional 12,487 shares in the last quarter. Fisher Asset Management LLC increased its position in shares of Shake Shack by 4.8% during the third quarter. Fisher Asset Management LLC now owns 354,114 shares of the company’s stock worth $36,548,000 after acquiring an additional 16,097 shares in the last quarter. GDS Wealth Management bought a new stake in shares of Shake Shack during the third quarter worth about $417,000. Jennison Associates LLC increased its position in shares of Shake Shack by 10.8% during the third quarter. Jennison Associates LLC now owns 294,111 shares of the company’s stock worth $30,355,000 after acquiring an additional 28,661 shares in the last quarter. Finally, Qsemble Capital Management LP bought a new stake in shares of Shake Shack during the second quarter worth about $661,000. 86.07% of the stock is owned by institutional investors.

Insider Activity at Shake Shack

In other Shake Shack news, Director Daniel Harris Meyer sold 10,000 shares of the stock in a transaction that occurred on Friday, October 4th. The shares were 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 $50,673,896.96. This represents a 2.13 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Katherine Irene Fogertey sold 642 shares of the stock in a transaction that occurred 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 owns 30,717 shares in the company, valued at $4,223,894.67. This represents a 2.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 63,754 shares of company stock worth $7,711,497. 9.73% of the stock is owned by corporate insiders.

Shake Shack Stock Down 2.4 %

SHAK opened at $131.62 on Friday. The stock has a market cap of $5.59 billion, a price-to-earnings ratio of 774.24, a PEG ratio of 2.97 and a beta of 1.85. The company has a quick ratio of 1.98, a current ratio of 2.01 and a debt-to-equity ratio of 0.51. The company’s 50-day moving average price is $122.41 and its two-hundred day moving average price is $104.82. Shake Shack Inc. has a twelve month low of $64.16 and a twelve month high of $139.89.

Shake Shack (NYSE:SHAK) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.25 EPS for the quarter, beating analysts’ consensus estimates 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 net margin of 0.68% and a return on equity of 6.28%. Shake Shack’s revenue was up 14.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.17 EPS. As a group, equities analysts expect that Shake Shack Inc. will post 0.82 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have recently commented on SHAK shares. Bank of America boosted their target price 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. TD Cowen reaffirmed a “buy” rating and issued a $125.00 price objective on shares of Shake Shack in a research report on Wednesday, September 18th. Oppenheimer upped their price objective on shares of Shake Shack from $122.00 to $135.00 and gave the stock an “outperform” rating in a research report on Monday, October 28th. Barclays upped their price objective on shares of Shake Shack from $115.00 to $125.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 31st. Finally, Truist Financial upped their price objective on shares of Shake Shack from $127.00 to $144.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Shake Shack has a consensus rating of “Hold” and a consensus target price of $112.94.

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.