Swiss National Bank Sells 400 Shares of Shake Shack Inc. (NYSE:SHAK)

Swiss National Bank lessened its holdings in shares of Shake Shack Inc. (NYSE:SHAK) by 0.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 73,500 shares of the company’s stock after selling 400 shares during the period. Swiss National Bank owned 0.17% of Shake Shack worth $7,586,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. Dimensional Fund Advisors LP boosted its holdings in shares of Shake Shack by 9.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 801,003 shares of the company’s stock valued at $72,088,000 after buying an additional 66,090 shares in the last quarter. Armistice Capital LLC boosted its stake in Shake Shack by 69.1% in the 2nd quarter. Armistice Capital LLC now owns 579,904 shares of the company’s stock worth $52,191,000 after purchasing an additional 236,950 shares in the last quarter. Marshall Wace LLP boosted its stake in Shake Shack by 101.2% in the 2nd quarter. Marshall Wace LLP now owns 544,336 shares of the company’s stock worth $48,990,000 after purchasing an additional 273,822 shares in the last quarter. Renaissance Technologies LLC boosted its stake in Shake Shack by 41.9% in the 2nd quarter. Renaissance Technologies LLC now owns 437,600 shares of the company’s stock worth $39,384,000 after purchasing an additional 129,200 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake 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 worth $27,048,000 after purchasing an additional 4,201 shares in the last quarter. Institutional investors own 86.07% of the company’s stock.

Insider Buying and Selling

In related news, Director Daniel Harris Meyer sold 30,000 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were 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 of the company’s stock, valued at approximately $49,647,206.34. This represents a 6.85 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Katherine Irene Fogertey sold 321 shares of the stock in a transaction that occurred on Wednesday, September 4th. The stock was 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. This represents a 0.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 63,433 shares of company stock valued at $7,654,856. 9.73% of the stock is owned by corporate insiders.

Shake Shack Price Performance

NYSE SHAK opened at $129.42 on Tuesday. Shake Shack Inc. has a 52 week low of $59.92 and a 52 week high of $134.90. The firm has a market capitalization of $5.50 billion, a P/E ratio of 761.29, a PEG ratio of 2.79 and a beta of 1.81. 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 has a 50-day moving average price of $113.75 and a 200-day moving average price of $101.34.

Shake Shack (NYSE:SHAK) last released its earnings results on Wednesday, October 30th. The company reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.05. The company had revenue of $316.92 million during the quarter, compared to analyst estimates of $316.03 million. Shake Shack had a net margin of 0.68% and a return on equity of 6.28%. The firm’s quarterly revenue was up 14.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.17 EPS. Equities research analysts anticipate that Shake Shack Inc. will post 0.82 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on SHAK. Capital One Financial began coverage on shares of Shake Shack in a research note on Monday, July 29th. They issued an “overweight” rating and a $95.00 price target on the stock. Oppenheimer upped their price target on shares of Shake Shack from $122.00 to $135.00 and gave the stock an “outperform” rating in a research note on Monday, October 28th. The Goldman Sachs Group upped their price target on shares of Shake Shack from $110.00 to $125.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $115.00 price target on shares of Shake Shack in a research note on Wednesday, August 28th. Finally, Bank of America upped their target price on shares of Shake Shack from $104.00 to $116.00 and gave the company a “neutral” rating in a research note on Monday, August 19th. 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 stock. Based on data from MarketBeat.com, Shake Shack currently has a consensus rating of “Hold” and an average target price of $112.94.

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.