2,417 Shares in Shake Shack Inc. (NYSE:SHAK) Bought by World Investment Advisors LLC

World Investment Advisors LLC acquired a new stake in Shake Shack Inc. (NYSE:SHAK) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 2,417 shares of the company’s stock, valued at approximately $249,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of SHAK. Wealth Enhancement Advisory Services LLC lifted its position in shares of Shake Shack by 5.8% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 3,855 shares of the company’s stock worth $347,000 after purchasing an additional 212 shares in the last quarter. Louisiana State Employees Retirement System lifted its holdings in Shake Shack by 1.6% in the 2nd quarter. Louisiana State Employees Retirement System now owns 18,900 shares of the company’s stock worth $1,701,000 after buying an additional 300 shares in the last quarter. Bank of New York Mellon Corp boosted its position in Shake Shack by 1.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 300,539 shares of the company’s stock valued at $27,048,000 after buying an additional 4,201 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Shake Shack by 3.4% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,340 shares of the company’s stock valued at $751,000 after acquiring an additional 274 shares in the last quarter. Finally, Panagora Asset Management Inc. increased its position in shares of Shake Shack by 35.6% during the second quarter. Panagora Asset Management Inc. now owns 114,054 shares of the company’s stock worth $10,265,000 after acquiring an additional 29,952 shares during the last quarter. Institutional investors and hedge funds own 86.07% of the company’s stock.

Insider Transactions at Shake Shack

In other Shake Shack news, Director Daniel Harris Meyer sold 22,691 shares of the company’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $124.47, for a total value of $2,824,348.77. Following the completion of the sale, the director now directly owns 437,646 shares in the company, valued at $54,473,797.62. This represents a 4.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Katherine Irene Fogertey sold 642 shares of Shake Shack stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $137.51, for a total value of $88,281.42. Following the transaction, the chief financial officer now owns 30,717 shares in the company, valued at approximately $4,223,894.67. This trade represents a 2.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 63,754 shares of company stock valued at $7,711,497. 9.73% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on SHAK. 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. Barclays raised their price target 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. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $115.00 price target on shares of Shake Shack in a report on Wednesday, August 28th. JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $102.00 target price (down previously from $105.00) on shares of Shake Shack in a report on Tuesday, September 24th. Finally, Oppenheimer boosted their target price on shares of Shake Shack from $122.00 to $135.00 and gave the company an “outperform” rating in a research note on Monday, October 28th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Shake Shack has a consensus rating of “Hold” and an average price target of $113.12.

Shake Shack Price Performance

Shares of NYSE:SHAK opened at $129.63 on Friday. The firm’s 50 day moving average is $123.64 and its two-hundred day moving average is $105.59. The firm has a market capitalization of $5.51 billion, a P/E ratio of 762.53, a PEG ratio of 2.83 and a beta of 1.85. The company has a current ratio of 2.01, a quick ratio of 1.98 and a debt-to-equity ratio of 0.51. Shake Shack Inc. has a 52 week low of $64.16 and a 52 week high of $139.89.

Shake Shack (NYSE:SHAK) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.05. The business had revenue of $316.92 million during 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%. The business’s revenue for the quarter 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. Analysts anticipate that Shake Shack Inc. will post 0.82 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.