Shake Shack Inc. (NYSE:SHAK) is Hedges Asset Management LLC’s 10th Largest Position

Hedges Asset Management LLC lowered its stake in shares of Shake Shack Inc. (NYSE:SHAK) by 7.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 20,825 shares of the company’s stock after selling 1,690 shares during the quarter. Shake Shack comprises about 1.8% of Hedges Asset Management LLC’s holdings, making the stock its 10th largest position. Hedges Asset Management LLC’s holdings in Shake Shack were worth $2,703,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Mowery & Schoenfeld Wealth Management LLC purchased a new position in shares of Shake Shack in the 3rd quarter valued at approximately $41,000. Kimelman & Baird LLC acquired a new stake in shares of Shake Shack during the second quarter worth $45,000. Covestor Ltd grew its position in Shake Shack by 41.6% in the 3rd quarter. Covestor Ltd now owns 698 shares of the company’s stock valued at $72,000 after buying an additional 205 shares during the last quarter. GAMMA Investing LLC increased its stake in Shake Shack by 56.3% in the 4th quarter. GAMMA Investing LLC now owns 736 shares of the company’s stock valued at $96,000 after buying an additional 265 shares during the period. Finally, Quest Partners LLC raised its position in Shake Shack by 76.1% during the 3rd quarter. Quest Partners LLC now owns 752 shares of the company’s stock worth $78,000 after buying an additional 325 shares during the last quarter. Institutional investors and hedge funds own 86.07% of the company’s stock.

Shake Shack Stock Performance

NYSE SHAK opened at $121.53 on Friday. 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 stock has a market cap of $5.16 billion, a price-to-earnings ratio of 714.85, a price-to-earnings-growth ratio of 1.67 and a beta of 1.86. Shake Shack Inc. has a fifty-two week low of $70.68 and a fifty-two week high of $139.89. The business has a fifty day moving average of $128.28 and a 200-day moving average of $112.13.

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, beating analysts’ consensus estimates of $0.20 by $0.05. The company had revenue of $316.92 million for 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% on a year-over-year basis. During the same period in the prior year, the firm earned $0.17 EPS. As a group, analysts predict that Shake Shack Inc. will post 0.89 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. UBS Group lifted their target price on shares of Shake Shack from $130.00 to $140.00 and gave the company a “neutral” rating in a report on Tuesday, January 7th. Barclays upgraded Shake Shack from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $125.00 to $159.00 in a research report on Tuesday, January 7th. Truist Financial reduced their price target on Shake Shack from $149.00 to $143.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. Wedbush reaffirmed a “neutral” rating and set a $130.00 price objective on shares of Shake Shack in a report on Wednesday, January 15th. Finally, Stifel Nicolaus reduced their target price on Shake Shack from $128.00 to $110.00 and set a “hold” rating for the company in a report on Friday, January 17th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $123.78.

Insider Activity at Shake Shack

In other news, CFO Katherine Irene Fogertey sold 642 shares of the stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $137.51, for a total transaction of $88,281.42. Following the transaction, the chief financial officer now directly owns 30,717 shares in the company, valued at $4,223,894.67. This represents a 2.05 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Daniel Harris Meyer sold 30,000 shares of the business’s stock in a transaction that occurred 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 owns 407,646 shares of the company’s stock, 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. Over the last 90 days, insiders have sold 53,333 shares of company stock valued at $6,566,330. Company insiders own 9.73% of the company’s stock.

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.