Cornerstone Capital Inc. Sells 305 Shares of Shake Shack Inc. (NYSE:SHAK)

Cornerstone Capital Inc. lowered its stake in shares of Shake Shack Inc. (NYSE:SHAK) by 0.1% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 236,683 shares of the company’s stock after selling 305 shares during the quarter. Shake Shack makes up approximately 1.9% of Cornerstone Capital Inc.’s portfolio, making the stock its 20th largest holding. Cornerstone Capital Inc. owned about 0.56% of Shake Shack worth $17,543,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in SHAK. GAMMA Investing LLC bought a new position in Shake Shack during the fourth quarter valued at about $32,000. Ramirez Asset Management Inc. purchased a new stake in Shake Shack during the third quarter valued at about $35,000. C M Bidwell & Associates Ltd. lifted its holdings in Shake Shack by 122.6% during the third quarter. C M Bidwell & Associates Ltd. now owns 1,111 shares of the company’s stock valued at $65,000 after purchasing an additional 612 shares during the last quarter. CWM LLC lifted its holdings in Shake Shack by 37.4% during the third quarter. CWM LLC now owns 1,349 shares of the company’s stock valued at $78,000 after purchasing an additional 367 shares during the last quarter. Finally, QRG Capital Management Inc. purchased a new stake in Shake Shack during the third quarter valued at about $206,000. Institutional investors own 86.07% of the company’s stock.

Shake Shack Stock Up 3.5 %

SHAK stock opened at $104.88 on Friday. Shake Shack Inc. has a 1-year low of $52.64 and a 1-year high of $110.90. The company has a current ratio of 2.04, a quick ratio of 2.01 and a debt-to-equity ratio of 0.52. The company’s 50 day moving average is $101.55 and its 200 day moving average is $78.83. The stock has a market cap of $4.44 billion, a price-to-earnings ratio of 228.00, a price-to-earnings-growth ratio of 3.78 and a beta of 1.80.

Shake Shack (NYSE:SHAK) last issued its quarterly earnings results on Thursday, February 15th. The company reported $0.02 EPS for the quarter. Shake Shack had a net margin of 1.82% and a return on equity of 3.67%. The business had revenue of $286.20 million for the quarter, compared to analysts’ expectations of $280.45 million. During the same period last year, the business earned ($0.06) earnings per share. The business’s quarterly revenue was up 20.0% on a year-over-year basis. Sell-side analysts predict that Shake Shack Inc. will post 0.71 EPS for the current fiscal year.

Insider Buying and Selling at Shake Shack

In other Shake Shack news, Director Daniel Harris Meyer sold 30,000 shares of the stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $95.25, for a total transaction of $2,857,500.00. Following the transaction, the director now directly owns 550,437 shares in the company, valued at $52,429,124.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Daniel Harris Meyer sold 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $95.25, for a total value of $2,857,500.00. Following the transaction, the director now owns 550,437 shares in the company, valued at $52,429,124.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jeffrey Flug sold 304 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $108.05, for a total transaction of $32,847.20. Following the completion of the transaction, the director now owns 4,058 shares in the company, valued at approximately $438,466.90. The disclosure for this sale can be found here. Insiders have sold 100,912 shares of company stock worth $10,201,834 over the last ninety days. Insiders own 10.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on SHAK. Wedbush reaffirmed a “neutral” rating and set a $80.00 price objective on shares of Shake Shack in a report on Wednesday, February 14th. UBS Group upped their price objective on shares of Shake Shack from $80.00 to $88.00 and gave the company a “neutral” rating in a report on Monday, February 12th. Morgan Stanley increased their price target on shares of Shake Shack from $88.00 to $105.00 and gave the stock an “equal weight” rating in a report on Friday, April 12th. BTIG Research increased their price target on shares of Shake Shack from $110.00 to $120.00 and gave the stock a “buy” rating in a report on Thursday, March 14th. Finally, JPMorgan Chase & Co. increased their price target on shares of Shake Shack from $65.00 to $100.00 and gave the stock an “underweight” rating in a report on Monday, March 4th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $88.67.

Shake Shack 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.