Mutual of America Capital Management LLC Has $621,000 Stake in Shake Shack Inc. (NYSE:SHAK)

Mutual of America Capital Management LLC lowered its stake in shares of Shake Shack Inc. (NYSE:SHAK) by 2.8% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 6,013 shares of the company’s stock after selling 176 shares during the period. Mutual of America Capital Management LLC’s holdings in Shake Shack were worth $621,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in SHAK. Quest Partners LLC bought a new stake in shares of Shake Shack in the 2nd quarter worth approximately $38,000. Mowery & Schoenfeld Wealth Management LLC bought a new position in shares of Shake Shack during the 3rd quarter worth about $41,000. Kimelman & Baird LLC acquired a new stake in shares of Shake Shack during the 2nd quarter valued at about $45,000. Covestor Ltd increased its stake in Shake Shack by 41.6% in the third quarter. Covestor Ltd now owns 698 shares of the company’s stock valued at $72,000 after acquiring an additional 205 shares during the period. Finally, CWM LLC increased its stake in Shake Shack by 24.7% in the second quarter. CWM LLC now owns 1,046 shares of the company’s stock valued at $94,000 after acquiring an additional 207 shares during the period. Institutional investors own 86.07% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on SHAK shares. Barclays lifted their price objective on Shake Shack from $115.00 to $125.00 and gave the company an “equal weight” rating in a report on Thursday, October 31st. Oppenheimer boosted their price target on Shake Shack from $122.00 to $135.00 and gave the company an “outperform” rating in a research note on Monday, October 28th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $115.00 price objective on shares of Shake Shack in a research note on Wednesday, August 28th. TD Cowen restated a “buy” rating and issued a $125.00 target price on shares of Shake Shack in a research note on Wednesday, September 18th. Finally, Piper Sandler cut shares of Shake Shack from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $121.00 to $114.00 in a research report on Monday, August 19th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Shake Shack presently has a consensus rating of “Hold” and an average price target of $112.94.

Insider Buying and Selling at Shake Shack

In other news, 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 value of $3,653,700.00. Following the completion of the transaction, the director now directly owns 407,646 shares in the company, valued at approximately $49,647,206.34. The trade was a 6.85 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Katherine Irene Fogertey sold 321 shares of the company’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $103.93, for a total value of $33,361.53. Following the sale, the chief financial officer now owns 36,180 shares of the company’s stock, valued at $3,760,187.40. The trade was a 0.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 63,433 shares of company stock valued at $7,654,856 in the last quarter. Company insiders own 9.73% of the company’s stock.

Shake Shack Price Performance

NYSE:SHAK opened at $132.66 on Wednesday. The company has a market cap of $5.64 billion, a P/E ratio of 780.35, a P/E/G ratio of 2.79 and a beta of 1.81. The firm’s fifty day moving average price is $114.30 and its two-hundred day moving average price is $101.51. Shake Shack Inc. has a one year low of $59.92 and a one year high of $134.90. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.01 and a quick ratio of 1.98.

Shake Shack (NYSE:SHAK) last posted its earnings results on Wednesday, October 30th. The company reported $0.25 EPS for the quarter, beating the consensus estimate of $0.20 by $0.05. Shake Shack had a return on equity of 6.28% and a net margin of 0.68%. The company had revenue of $316.92 million for the quarter, compared to the consensus estimate of $316.03 million. During the same quarter in the prior year, the business earned $0.17 earnings per share. The firm’s revenue for the quarter was up 14.7% on a year-over-year basis. Equities analysts expect 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.